Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.040%

Price spread now: SoDEX against Phemex+0.028%7-day average −0.026% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.087%−$9 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.028%, 7d avg −0.026%

Together, before fees−0.114%−$11 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: SoDEX is 0.054% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	143.96	0.0100	pay 0.0100% / 8h	2h 02m	$4.0M	$3.6M	50x
Short	SoDEX AAVE-USD	144.00	0.0100	get 0.0013% / 1h	2m 43s	$5K	$314K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.026%: $5.38
Slippage, 4 orders: −$39.3
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$53.92
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; SoDEX: live order book, 46 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	4.86 bp	22.6 bp −$23	29.5 bp −$295	doesn't fit	doesn't fit
Sell SoDEX live order book, 46 min ago	0.35 bp	5.3 bp −$5	10.1 bp −$101	99.7 bp −$9,970	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	143.93	−0.023%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.87	−0.063%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.99	+0.021%	$219K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.88	−0.053%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0029%	1h	143.81	−0.104%	$835K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.862%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.82	−0.095%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0073%	8h	143.99	+0.021%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.88	−0.056%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.96	−0.002%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.90	−0.040%	$328K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.92	−0.029%	$64.7M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.88	−0.056%	$61.9M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.85	−0.076%	$17.3M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.00	+0.028%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.85	−0.078%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.91	−0.035%	$8.0M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.93	−0.021%	$25.1M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.96	0.000%	$10.4M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.88	−0.056%	$29.4M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.91	−0.035%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	144.00	+0.028%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.01	+0.034%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.98	+0.016%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.07	+0.076%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.94	−0.014%	$143K	$469K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.97	+0.010%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USDshort	+0.0100%	1h	144.00	+0.028%	$5K	$314K	10x
HTX AAVE-USDT	+0.0100%	8h	144.03	+0.051%	$683K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	143.96	long leg	$4.0M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	143.86	−0.072%	$915K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.00	+0.031%	$122K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	144.05	+0.063%	$4K	$106K	10x	as long as short
01 Exchange AAVEUSD	+0.0128%	1h	143.98	+0.014%	$11K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0162%	1h	144.09	+0.090%	$78.7M	$37.2M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0170%	1h	144.04	+0.056%	$342K	$727K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	143.96	+0.003%	$200K	$262K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.87	−0.063%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0235%	1h	144.07	+0.079%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.86	−0.066%	$112K	—	100x	as long as short
Lighter AAVE	+0.0256%	1h	144.12	+0.108%	$4.6M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	144.04	+0.056%	$769K	$2.9M	50x	as long as short