AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.023%

Price spread now: Arcus against Phoenix−0.232%7-day average −0.054% · 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−$62as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.086%+$9 · spread now −0.232%, 7d avg −0.054%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.178% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.232% now, against its 7-day average of −0.054%). If the spread goes back, that is −$18 on $10k: about 5.9 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.033% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	146.51	0	get 0.0000% / 1h	7m 26s	$5K	$102K	10x
Short	Arcus AAVE-USD	146.17	0.0100	get 0.0013% / 1h	7m 26s	$46K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now −0.232%Rate

Funding earned: $21
Price spread: −0.232% → −0.054%: −$17.77
Slippage, 4 orders: −$32.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$40.68
Costs to cover: 0.439%
Break-even: 20.6 days

Slippage from Phoenix: live order book, 45 min ago; Arcus: live order book, 1 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 Phoenix live order book, 45 min ago	0.69 bp	13.8 bp −$14	53.9 bp −$539	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	2.39 bp	6.0 bp −$6	20.5 bp −$205	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.36	−0.100%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0144%	1h	146.09	−0.287%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0056%	1h	146.27	−0.164%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.19	−0.220%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.16	−0.239%	$70K	$1.5M	3.4x	as long as short
Phoenix AAVElong	0.0000%	1h	146.51	long leg	$5K	$102K	10x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.30	−0.143%	$255K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.11	−0.271%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0025%	8h	146.10	−0.280%	$28.6M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0026%	8h	146.14	−0.254%	$66.2M	$183.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.518%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	146.27	−0.164%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.04	−0.320%	—	—	20x	as long as short
Phemex AAVEUSDT	+0.0051%	8h	146.21	−0.205%	$4.2M	$3.8M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	146.08	−0.293%	$17.9M	$66.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	146.47	−0.027%	$136K	$231K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.33	−0.123%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.39	−0.081%	$4.7M	$1.5M	10x	as long as short
BloFin AAVE-USDT	+0.0099%	8h	146.54	+0.020%	$3.5M	$3.5M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.23	−0.190%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.17	−0.232%	$799K	$422K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.22	−0.198%	$79.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.26	−0.170%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.21	−0.205%	$334K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.14	−0.253%	$62.6M	$64.8M	75x	as long as short
Arcus AAVE-USDshort	+0.0100%	1h	146.17	−0.232%	$46K	$275K	10x
Gate AAVE_USDT	+0.0100%	8h	146.18	−0.225%	$7.9M	$15.3M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.14	−0.253%	$11.0M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.06	−0.307%	$30.3M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.07	−0.300%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.22	−0.198%	$334K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.163%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.47	−0.024%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.52	+0.007%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.16	−0.239%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.28	−0.154%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.39	−0.081%	$711K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	−0.157%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.15	−0.248%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.20	−0.213%	$185K	$245K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.34	−0.117%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	−0.061%	$784K	$2.9M	50x	as long as short