AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0118%/8h= −12.9% APRnext payment −$0.15 per $10,000 · paid last 24h −0.007%

Price spread now: dYdX against Phoenix−0.371%46s7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1761.761% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$14 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.371%, 7d avg −0.047%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and dYdX is 0.324% cheaper against Phoenix than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.047%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	143.73	0.0118	pay 0.0015% / 1h	56m 06s	$4K	$108K	10x
Short	dYdX AAVE-USD	143.20	0	get 0.0000% / 1h	56m 06s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.371%Rate

Funding earned: −$24.72
Price spread: −0.371% → −0.047%: −$32.41
Slippage, 4 orders: −$159.07
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$233.2
Costs to cover: 1.761%
Break-even: never at this rate

Slippage from Phoenix: live order book, 44 min ago; dYdX: live order book, 53 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, 44 min ago	0.70 bp	14.0 bp −$14	54.4 bp −$544	doesn't fit	doesn't fit
Sell dYdX live order book, 53 min ago	69.02 bp	74.0 bp −$74	138.9 bp −$1,389	160.4 bp −$16.0K	223.4 bp −$111.7K

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-USDshort	0.0000%	1h	143.20	−0.371%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	143.27	−0.320%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.30	−0.299%	$218K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.31	−0.294%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.710%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.27	−0.319%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0061%	1h	143.32	−0.285%	$832K	$400K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0075%	8h	143.29	−0.306%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.37	−0.252%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.33	−0.276%	$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	143.29	−0.308%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.27	−0.321%	$64.4M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.26	−0.327%	$61.7M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.29	−0.306%	$17.2M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.49	−0.167%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.125%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.31	−0.292%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.31	−0.292%	$25.3M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.32	−0.285%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.28	−0.313%	$29.3M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.30	−0.299%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.39	−0.237%	$340K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.75	+0.013%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	−0.144%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	+0.097%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.88	+0.104%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.35	−0.264%	$142K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.30	−0.302%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.27	−0.320%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.57	−0.112%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.33	−0.278%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.26	−0.328%	$911K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.35	−0.268%	$121K	$146	10x	as long as short
Phoenix AAVElong	+0.0118%	1h	143.73	long leg	$4K	$108K	10x
01 Exchange AAVEUSD	+0.0160%	1h	143.40	−0.230%	$10K	$2K	5x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.17	−0.390%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.30	−0.297%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	143.41	−0.223%	$196K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.40	−0.230%	$765K	$2.9M	50x	as long as short
Lighter AAVE	+0.0304%	1h	143.49	−0.167%	$4.5M	$2.4M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0314%	1h	143.38	−0.247%	$3.4M	$2.1M	50x	as long as short
Hyperliquid AAVE	+0.0339%	1h	143.49	−0.167%	$78.4M	$37.3M	10x	as long as short