AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0306%/8h= +33.5% APRnext payment +$0.38 per $10,000 · paid last 24h +0.072%

Price spread now: GMX against Phoenix−0.119%7-day average −0.011% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.120%−$12 on $10k

Price spread, last 4 days (all we have)+0.294%+$29 · spread now −0.119%, 7d avg −0.011%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.108% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.011%). If the spread goes back, that is −$11 on $10k: about 28 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 3 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	142.95	0.0056	pay 0.0007% / 1h	21m 23s	$4K	$102K	10x
Short	GMX AAVE/USD [AAVE-USDC]	142.78	L +0.0252% / S −0.0362%	get 0.0045% / 1h	21m 23s	$112K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.119%Rate

Funding earned: $64.3
Price spread: −0.119% → −0.011%: −$10.81
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $34.49
Costs to cover: 0.190%
Break-even: 3.2 days

Slippage unknown: Phoenix: live order book, 28 min ago; GMX: no order-book sample. Net counts fees only.

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, 28 min ago	3.53 bp	14.3 bp −$14	54.4 bp −$544	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0144%	1h	142.67	−0.196%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.75	−0.143%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.88	−0.049%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.78	−0.119%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.78	−0.118%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0013%	1h	142.73	−0.154%	$841K	$448K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.190%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.73	−0.157%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	142.74	−0.147%	$18K	$10K	10x	as long as short
Phoenix AAVElong	+0.0056%	1h	142.95	long leg	$4K	$102K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	142.83	−0.085%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.75	−0.142%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.85	−0.070%	$76.9M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.73	−0.156%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.78	−0.120%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.75	−0.140%	$63.8M	$186.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.75	−0.140%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.76	−0.133%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.83	−0.084%	$64K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	−0.049%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.78	−0.119%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.73	−0.154%	$25.1M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.74	−0.147%	$10.5M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.66	−0.203%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.76	−0.133%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.84	−0.077%	$336K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.60	−0.246%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.74	−0.148%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.72	−0.162%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.82	−0.091%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.78	−0.119%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.74	−0.145%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.82	−0.091%	$5K	$292K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.00	+0.035%	$688K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.87	−0.056%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.76	−0.135%	$896K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.79	−0.109%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.73	−0.154%	$178K	$242K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.74	−0.147%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0252% / S −0.0362%	1h	142.78	−0.119%	$112K	—	100x
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.89	−0.042%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.95	0.000%	$793K	$2.8M	50x	as long as short