Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: KuCoin against Phemex+0.014%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now +0.014%, 7d avg −0.012%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.026% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	144.11	0.0100	pay 0.0100% / 8h	6h 15m	$4.1M	$3.8M	50x
Short	KuCoin AAVEUSDTM	144.13	0.0100	get 0.0100% / 8h	6h 15m	$10.8M	$9.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.012%: $2.63
Slippage, 4 orders: −$47.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$68.94
Costs to cover: 0.716%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: live order book, 3 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, 4 min ago	3.81 bp	18.4 bp −$18	25.3 bp −$253	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	0.69 bp	11.8 bp −$12	29.8 bp −$298	doesn't fit	doesn't fit

AAVE on 41 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
Deribit AAVE_USDC-PERPETUAL	−0.2595%	1h	143.72	−0.271%	$244K	$363K	50x	as long as short
01 Exchange AAVEUSD	−0.0040%	1h	144.09	−0.014%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.24	+0.087%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.16	+0.035%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.09	−0.014%	$70K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.14	+0.018%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.44	+0.229%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.961%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.07	−0.028%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.10	−0.007%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0070%	8h	144.13	+0.014%	$26.7M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0070%	8h	144.13	+0.014%	$65.0M	$184.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0080%	8h	144.09	−0.014%	$17.3M	$65.2M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.13	+0.015%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.33	+0.153%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.15	+0.030%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.11	+0.002%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.06	−0.038%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.20	+0.062%	$78.0M	$35.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.16	+0.035%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.11	+0.001%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.12	+0.007%	$61.6M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.11	0.000%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.13	+0.014%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	144.13	+0.014%	$10.8M	$9.2M	75x
Bitget AAVEUSDT	+0.0100%	8h	144.08	−0.021%	$30.0M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.11	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.20	+0.062%	$321K	$746K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.03	−0.057%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.20	+0.065%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.24	+0.093%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.24	+0.090%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.12	+0.007%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.08	−0.023%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.12	+0.007%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.28	+0.117%	$698K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	144.11	long leg	$4.1M	$3.8M	50x
Bulk AAVE-USD	+0.0100%	1h	144.09	−0.010%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.07	−0.028%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0246% / S −0.0382%	1h	144.11	+0.001%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.76	+0.451%	$778K	$2.8M	50x	as long as short