Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h +0.001%

Price spread now: edgeX against Phemex+0.174%78s7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as 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−$430.430% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.288%−$29 · spread now +0.174%, 7d avg −0.028%

Together, before fees−0.270%+ Points / potential airdropedgeX: Active · farm board−$27 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 edgeX is 0.202% dearer against Phemex than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.028%. The two prices were read 78 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	142.69	0.0063	pay 0.0063% / 8h	3h 24m	$4.0M	$3.6M	50x
Short	edgeX AAVEUSDC	142.94	0.0100	get 0.0050% / 4h	3h 24m	$104K	$279K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.174%Rate

Funding earned: $7.75
Price spread: +0.174% → −0.028%: $20.16
Slippage, 4 orders: −$22.03
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$15.12
Costs to cover: 0.430%
Break-even: 20.7 days

Slippage from Phemex: live order book, 5 min ago; edgeX: 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, 5 min ago	4.19 bp	15.0 bp −$15	24.1 bp −$241	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	3.47 bp	8.0 bp −$8	12.7 bp −$127	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	142.88	+0.134%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.78	+0.063%	$52K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.70	+0.007%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.75	+0.046%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.016%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.58	+0.624%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0035%	1h	142.74	+0.039%	$834K	$398K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.68	−0.004%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	142.69	0.000%	$18K	$10K	10x	as long as short
Phemex AAVEUSDTlong	+0.0063%	8h	142.69	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	+0.0096%	1h	142.89	+0.140%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.78	+0.064%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.63	−0.041%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.82	+0.094%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.54	−0.105%	$63.6M	$188.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.54	−0.105%	$61.3M	$67.8M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.53	−0.112%	$17.0M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.95	+0.182%	$64K	$200K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.57	−0.084%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.58	−0.077%	$25.4M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.70	+0.007%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.51	−0.126%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.59	−0.070%	—	$43.7M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.66	−0.021%	$335K	$722K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.92	+0.160%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDCshort	+0.0100%	4h	142.94	+0.174%	$104K	$279K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.34	+0.455%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.00	+0.217%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.84	+0.105%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.69	+0.003%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.67	−0.014%	$5K	$309K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.90	+0.145%	$684K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.31	+0.435%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.48	−0.150%	$901K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.73	+0.028%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	142.90	+0.150%	$185K	$251K	10x	as long as short
Lighter AAVE	+0.0152%	1h	142.81	+0.081%	$4.5M	$2.3M	10x	as long as short
Hyperliquid AAVE	+0.0190%	1h	142.72	+0.021%	$78.1M	$37.0M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.83	+0.098%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.78	+0.066%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.73	+0.029%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.68	+0.694%	$788K	$2.8M	50x	as long as short