Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.004%

Price spread now: ApeX Omni against Phemex+0.330%77s7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.615% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.460%−$46 · spread now +0.330%, 7d avg −0.006%

Together, before fees−0.454%−$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.335% dearer against Phemex than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.006%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	142.53	0.0074	pay 0.0074% / 8h	3h 22m	$4.0M	$3.6M	50x
Short	ApeX Omni AAVEUSDT	143.00	0.0100	get 0.0013% / 1h	22m 06s	$133K	$220K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee ApeX OmnibpOrdersPrice spread, now +0.330%Rate

Funding earned: $5.37
Price spread: +0.330% → −0.006%: $33.54
Slippage, 4 orders: −$39.47
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$22.57
Costs to cover: 0.615%
Break-even: 36.4 days

Slippage from Phemex: live order book, 2 min ago; ApeX Omni: live order book, 29 min ago.

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 Phemex live order book, 2 min ago	1.40 bp	22.1 bp −$22	32.2 bp −$322	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 29 min ago	5.91 bp	14.3 bp −$14	113.0 bp −$1,130	doesn't fit	doesn't fit

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX AAVE-USD	0.0000%	1h	142.49	−0.028%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.49	−0.028%	$52K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.49	−0.028%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.53	+0.001%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.908%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	142.99	+0.323%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0039%	1h	142.41	−0.084%	$833K	$399K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.47	−0.044%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	142.48	−0.035%	$18K	$10K	10x	as long as short
Phemex AAVEUSDTlong	+0.0074%	8h	142.53	long leg	$4.0M	$3.6M	50x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0088%	1h	142.38	−0.105%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.42	−0.079%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.56	+0.020%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.44	−0.063%	$326K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.46	−0.048%	$63.6M	$188.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.44	−0.063%	$61.2M	$67.8M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.43	−0.070%	$17.0M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.48	−0.035%	$63K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.57	+0.027%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.48	−0.035%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.47	−0.042%	$25.4M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.51	−0.014%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.43	−0.070%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.51	−0.014%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.56	+0.021%	$335K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.92	+0.273%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.94	+0.286%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.89	+0.253%	$450K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDTshort	+0.0100%	1h	143.00	+0.330%	$133K	$220K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.57	+0.028%	$131K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.46	−0.053%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.47	−0.042%	$5K	$310K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.75	+0.152%	$683K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.43	−0.070%	$901K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.50	−0.019%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	142.42	−0.078%	$184K	$251K	10x	as long as short
Lighter AAVE	+0.0160%	1h	142.71	+0.129%	$4.5M	$2.3M	10x	as long as short
Hyperliquid AAVE	+0.0167%	1h	142.60	+0.049%	$78.0M	$37.0M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.67	+0.098%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.59	+0.044%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.52	−0.006%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.68	+0.807%	$788K	$2.8M	50x	as long as short