Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Phemex−0.006%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	141.40	0.0100	pay 0.0100% / 8h	12m 36s	$3.9M	$3.6M	50x
Short	gTrade (Gains Network) AAVE/USD	141.39	L +0.0005% / S −0.0004%	get 0.0000% / 1h	12m 36s	$79K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.006%Rate

Funding earned: −$20.19
Price spread: −0.006% → 0.000%: −$0.64
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$42.82
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 6 min ago	0.35 bp	12.2 bp −$12	19.3 bp −$193	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 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	141.33	−0.052%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.39	−0.007%	$46K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.40	0.000%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USDshort	L +0.0005% / S −0.0004%	1h	141.39	−0.006%	$79K	—	150x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.140%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.35	−0.038%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0083%	8h	141.38	−0.014%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.58	+0.129%	$4.5M	$2.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.32	−0.059%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.33	−0.048%	$826K	$399K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.53	+0.092%	$77.2M	$37.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.41	+0.006%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.39	−0.004%	$329K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.36	−0.030%	$63.5M	$192.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.33	−0.050%	$60.8M	$69.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.33	−0.050%	$16.7M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.46	+0.042%	$91K	$221K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.38	−0.014%	$8.1M	$16.6M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.35	−0.035%	$22.5M	$24.4M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.38	−0.014%	$10.3M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.40	0.000%	$28.7M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.35	−0.035%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.16	−0.168%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.18	−0.153%	$108K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.20	−0.140%	$447K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.16	−0.170%	$131K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.45	+0.035%	$134K	$484K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.36	−0.031%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.38	−0.014%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.46	+0.045%	$667K	$5.3M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	141.40	long leg	$3.9M	$3.6M	50x
Bulk AAVE-USD	+0.0100%	1h	141.18	−0.156%	$163K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.27	−0.093%	$909K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	141.47	+0.050%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.40	+0.001%	$119K	$146	10x	as long as short
Phoenix AAVE	+0.0152%	1h	141.19	−0.149%	$5K	$98K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.35	−0.035%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.38	−0.011%	$190K	$292K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.18	−0.156%	$110K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.41	+0.007%	$752K	$2.7M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0257%	1h	141.47	+0.050%	$385K	$733K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0271%	1h	141.45	+0.037%	$3.4M	$2.1M	50x	as long as short