Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.001%

Price spread now: Polymarket Perps against Phemex+0.049%7-day average +0.027% · 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−$39as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.049%, 7d avg +0.027%

Together, before fees−0.209%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.022% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	141.80	0.0014	pay 0.0014% / 8h	5h 56m	$3.9M	$3.6M	50x
Short	Polymarket Perps AAVE-USD	141.87	0.0100	get 0.0013% / 1h	56m 37s	$134K	$370K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.049%Rate

Funding earned: $18.1
Price spread: +0.049% → +0.027%: $2.24
Slippage, 4 orders: −$20.98
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$20.64
Costs to cover: 0.410%
Break-even: 15.0 days

Slippage from Phemex: live order book, 5 min ago; Polymarket Perps: live order book, 54 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	3.17 bp	12.3 bp −$12	21.9 bp −$219	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 54 min ago	0.71 bp	5.4 bp −$5	8.3 bp −$83	doesn't fit	doesn't fit

AAVE on 42 exchanges

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
SoDEX AAVE-USD	−0.0122%	1h	141.85	+0.035%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.89	+0.062%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.84	+0.028%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.86	+0.042%	$41K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.88	+0.056%	$208K	$329K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.89	+0.061%	$79K	—	150x	as long as short
Phemex AAVEUSDTlong	+0.0014%	8h	141.80	long leg	$3.9M	$3.6M	50x
Bybit AAVEUSDT	+0.0024%	8h	141.75	−0.035%	$61.3M	$59.9M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.413%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	141.82	+0.014%	$132K	$221K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	141.77	−0.018%	—	—	20x	as long as short
Phoenix AAVE	+0.0062%	1h	141.94	+0.099%	$4K	$81K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.82	+0.014%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.06	+0.181%	$4.6M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.74	−0.041%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.79	−0.007%	$815K	$310K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.06	+0.185%	$78.0M	$28.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.91	+0.078%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.89	+0.063%	$346K	$312K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.86	+0.040%	$63.9M	$162.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.73	−0.049%	$16.4M	$52.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.84	+0.028%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.80	0.000%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.80	0.000%	$22.0M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.87	+0.049%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.76	−0.028%	$29.2M	$15.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.79	−0.007%	—	$42.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.98	+0.127%	$386K	$600K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.71	−0.062%	$3.7M	$692K	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.75	−0.034%	$109K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.85	+0.035%	$453K	$3.2M	10x	as long as short
Polymarket Perps AAVE-USDshort	+0.0100%	1h	141.87	+0.049%	$134K	$370K	10x
SunX AAVE-USDT	+0.0100%	8h	141.78	−0.011%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.09	+0.208%	$659K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.78	−0.014%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.68	−0.082%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.84	+0.025%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.79	−0.005%	$172K	$206K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.85	+0.035%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	142.03	+0.162%	$754K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.90	+0.068%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.97	+0.117%	$3.5M	$1.9M	50x	as long as short