AAVE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.279%

7d average—if it closes, per $10,000$28funding while held, a day−$1.66

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AAVE	143.47	0.0100	pay 0.0013% / 1h	30m 16s	$331K	$476K	10x
Short	Phoenix AAVE	143.07	0.0045	get 0.0006% / 1h	30m 16s	$4K	$78K	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee PacificabpFee PhoenixbpOrdersClose when spread is

Spread captured: −$27.88
Funding while held: −$1.66
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$44.54
Spread needed to break even: 0.150%

Slippage unknown: Pacifica: live order book, 15 min ago; Phoenix: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0055%
Per $10,000 a day: −$1.66
Average in range /8h: —

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 15 min ago	1.75 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE price on every exchange

against the cheapest. Click to use as the short leg.

Injective136.96cheapest Bulk142.84+4.295%ApeX Omni142.87+4.315%edgeX142.88+4.323%Variational Omni142.94+4.368%BloFin143.04+4.439%

Phoenix143.07+4.461%

Backpack143.12+4.498%Coinbase International143.29+4.622%Kalshi143.31+4.636%Nado143.38+4.687%Phemex143.38+4.688%Reya143.38+4.691%Gate143.42+4.717%MEXC143.42+4.717%SoDEX143.42+4.717%SunX143.42+4.720%Extended143.45+4.736%Binance143.45+4.739%OKX143.45+4.739%KuCoin143.45+4.739%BingX143.45+4.739%dYdX143.45+4.741%Bybit143.46+4.746%

Pacifica143.47+4.753%

Orderly143.47+4.753%Deribit143.47+4.753%Bitget143.48+4.761%Aevo143.49+4.766%GMX143.49+4.768%01 Exchange143.49+4.768%Polymarket Perps143.49+4.768%HTX143.49+4.768%Kraken Futures143.50+4.774%gTrade (Gains Network)143.52+4.791%RISEx143.52+4.792%Paradex143.53+4.799%Arcus143.54+4.804%Hyperliquid143.57+4.826%Aster143.57+4.828%Lighter143.61+4.855%

AAVE on 41 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	−4.538%	+0.0033%	1h	$422	$145K	12x	as long as short
Bulk AAVE-USD	−0.438%	+0.0100%	1h	$58K	$512	10x	as long as short
ApeX Omni AAVEUSDT	−0.418%	+0.0100%	1h	$132K	$239K	50x	as long as short
edgeX AAVEUSDC	−0.411%	+0.0100%	4h	$97K	$310K	20x	as long as short
Variational Omni AAVE	−0.367%	+0.0041%	8h	$3.8M	$1.4M	—	as long as short
BloFin AAVE-USDT	−0.300%	+0.0205%	8h	$3.6M	$5.6M	100x	as long as short
Phoenix AAVEshort	−0.279%	+0.0045%	1h	$4K	$78K	10x
Backpack AAVE_USDC_PERP	−0.244%	+0.0100%	1h	$257K	$556K	10x	as long as short
Coinbase International AAVE-PERP-INTX	−0.125%	+0.0216%	1h	$775K	$2.7M	50x	as long as short
Kalshi KXAAVEPERP	−0.112%	0.0000%	8h	$52K	$1.3M	3.4x	as long as short

Show all 41 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Nado AAVE-PERP	−0.063%	+0.0016%	1h	$816K	$430K	10x	as long as short
Phemex AAVEUSDT	−0.063%	+0.0100%	8h	$4.0M	$3.9M	50x	as long as short
Reya AAVERUSDPERP	−0.059%	+0.0044%	1h	—	—	20x	as long as short
Gate AAVE_USDT	−0.035%	+0.0100%	8h	$7.7M	$13.2M	75x	as long as short
MEXC AAVE_USDT	−0.035%	+0.0084%	8h	$23.3M	$24.2M	200x	as long as short
SoDEX AAVE-USD	−0.035%	+0.0100%	1h	$5K	$300K	10x	as long as short
SunX AAVE-USDT	−0.032%	+0.0100%	8h	$1K	$1.2M	20x	as long as short
Extended AAVE-USD	−0.016%	+0.0104%	1h	$1.0M	$1.4M	50x	as long as short
Binance AAVEUSDT	−0.014%	+0.0085%	8h	$64.9M	$174.6M	75x	as long as short
OKX AAVE-USDT-SWAP	−0.014%	+0.0061%	8h	$18.0M	$63.4M	50x	as long as short
KuCoin AAVEUSDTM	−0.014%	+0.0100%	8h	$10.1M	$8.3M	75x	as long as short
BingX AAVE-USDC	−0.014%	+0.0100%	8h	—	$6.5M	—	as long as short
dYdX AAVE-USD	−0.012%	0.0000%	1h	$103K	$5K	10x	as long as short
Bybit AAVEUSDT	−0.007%	+0.0100%	8h	$61.3M	$62.5M	75x	as long as short
Pacifica AAVElong	0.000%	+0.0100%	1h	$331K	$476K	10x
Orderly PERP_AAVE_USDC	0.000%	+0.0058%	8h	$18K	$17K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.000%	0.0000%	1h	$197K	$354K	50x	as long as short
Bitget AAVEUSDT	+0.007%	+0.0100%	8h	$29.5M	$16.3M	75x	as long as short
Aevo AAVE-PERP	+0.012%	+0.0104%	1h	$121K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	+0.014%	L +0.0266% / S −0.0440%	1h	$124K	—	100x	as long as short
01 Exchange AAVEUSD	+0.014%	+0.0056%	1h	$10K	$2K	5x	as long as short
Polymarket Perps AAVE-USD	+0.014%	+0.0100%	1h	$133K	$607K	10x	as long as short
HTX AAVE-USDT	+0.014%	+0.0100%	8h	$703K	$4.5M	75x	as long as short
Kraken Futures PF_AAVEUSD	+0.019%	−0.0077%	1h	$3.4M	$2.0M	50x	as long as short
gTrade (Gains Network) AAVE/USD	+0.036%	L +0.0005% / S −0.0011%	1h	$156K	—	150x	as long as short
RISEx AAVE/USDC	+0.037%	+0.0102%	1h	$199K	$256K	10x	as long as short
Paradex AAVE-USD-PERP	+0.044%	+0.0100%	8h	$13K	$4K	20x	as long as short
Arcus AAVE-USD	+0.049%	+0.0100%	1h	$58K	$405K	10x	as long as short
Hyperliquid AAVE	+0.070%	+0.0100%	1h	$80.1M	$25.0M	10x	as long as short
Aster AAVEUSDT	+0.072%	+0.0100%	8h	$1.4M	$1.0M	50x	as long as short
Lighter AAVE	+0.098%	+0.0096%	1h	$4.7M	$1.7M	10x	as long as short