Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.006%

Price spread now: RISEx against Phemex−0.016%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.157%−$16 · spread now −0.016%, 7d avg −0.013%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: +$1 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	141.79	0.0100	pay 0.0100% / 8h	4h 38m	$4.0M	$3.7M	50x
Short	RISEx AAVE/USDC	141.77	0.0136	get 0.0017% / 1h	38m 02s	$176K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.016%Rate

Funding earned: $7.55
Price spread: −0.016% → −0.013%: −$0.39
Slippage, 4 orders: −$15.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$26.5
Costs to cover: 0.337%
Break-even: 31.6 days

Slippage from Phemex: live order book, 6 min ago; RISEx: live order book, 20 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, 6 min ago	1.05 bp	12.2 bp −$12	19.1 bp −$191	doesn't fit	doesn't fit
Sell RISEx live order book, 20 min ago	1.30 bp	4.3 bp −$4	12.0 bp −$120	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
01 Exchange AAVEUSD	−0.0168%	1h	141.70	−0.063%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.69	−0.071%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.66	−0.092%	$43K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.85	+0.042%	$220K	$399K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.84	+0.035%	$79K	—	150x	as long as short
SoDEX AAVE-USD	+0.0023%	1h	141.74	−0.035%	$5K	$299K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.406%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.78	−0.006%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0045%	1h	141.78	−0.004%	$840K	$447K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.81	+0.014%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.05	+0.183%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.76	−0.022%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.65	−0.099%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.73	−0.042%	$76.4M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.83	+0.025%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.63	−0.110%	$324K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.68	−0.078%	$63.4M	$186.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.69	−0.071%	$60.6M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.70	−0.063%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.80	+0.007%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	+0.233%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.67	−0.085%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.69	−0.071%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.79	0.000%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.59	−0.141%	$28.8M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.65	−0.099%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.76	−0.021%	$336K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.94	+0.105%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.18	+0.277%	$102K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.91	+0.082%	$445K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.90	+0.078%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.83	+0.028%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.74	−0.035%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.77	−0.017%	$682K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	141.79	long leg	$4.0M	$3.7M	50x
Extended AAVE-USD	+0.0104%	1h	141.64	−0.103%	$892K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.85	+0.041%	$120K	$146	10x	as long as short
RISEx AAVE/USDCshort	+0.0136%	1h	141.77	−0.016%	$176K	$241K	10x
BloFin AAVE-USDT	+0.0220%	8h	141.96	+0.120%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.84	+0.036%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	141.88	+0.061%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.18	+0.275%	$788K	$2.9M	50x	as long as short