Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.020%

Price spread now: Paradex against Phoenix−0.175%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.175% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.175% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 8.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAVE	141.72	0.0028	pay 0.0004% / 1h	53m 20s	$4K	$81K	10x
Short	Paradex AAVE-USD-PERP	141.47	0.0100	get 0.0100% / 8h	5h 53m	$13K	$444	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.175%Rate

Funding earned: $15.09
Price spread: −0.175% → 0.000%: −$17.45
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$13.37
Costs to cover: 0.110%
Break-even: 13.2 days

Slippage unknown: Phoenix: no order-book sample; Paradex: 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 no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Phoenix and Paradex: 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 exchanges

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
SoDEX AAVE-USD	−0.0183%	1h	141.47	−0.176%	$7K	$232K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0174%	1h	141.51	−0.148%	$208K	$323K	50x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	141.53	−0.134%	$10K	$1K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.61	−0.078%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.61	−0.078%	$45K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.60	−0.084%	$79K	—	150x	as long as short
Bybit AAVEUSDT	+0.0017%	8h	141.47	−0.176%	$61.2M	$59.6M	75x	as long as short
Phemex AAVEUSDT	+0.0023%	8h	141.50	−0.155%	$3.9M	$3.6M	50x	as long as short
Phoenix AAVElong	+0.0028%	1h	141.72	long leg	$4K	$81K	10x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.359%	$422	$51K	12x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	141.46	−0.186%	—	—	20x	as long as short
ApeX Omni AAVEUSDT	+0.0046%	1h	141.63	−0.064%	$132K	$221K	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0085%	8h	141.47	−0.176%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.70	−0.013%	$4.6M	$2.2M	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.67	−0.036%	$3.7M	$692K	—	as long as short
Paradex AAVE-USD-PERPshort	+0.0100%	8h	141.47	−0.175%	$13K	$444	20x
Nado AAVE-PERP	+0.0100%	1h	141.51	−0.145%	$813K	$309K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.67	−0.035%	$77.8M	$27.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.60	−0.085%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.57	−0.106%	$345K	$312K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.48	−0.169%	$63.7M	$162.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.49	−0.162%	$16.3M	$52.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.65	−0.049%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.51	−0.148%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.49	−0.162%	$21.9M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.52	−0.141%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.49	−0.162%	$29.2M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.50	−0.155%	—	$42.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.69	−0.021%	$388K	$601K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.78	+0.042%	$109K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.72	−0.003%	$453K	$3.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.55	−0.120%	$134K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.51	−0.146%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.09	+0.262%	$659K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.78	+0.042%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.43	−0.204%	$913K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.50	−0.159%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.56	−0.116%	$171K	$206K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.69	−0.021%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	141.87	+0.106%	$752K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.53	−0.131%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.60	−0.086%	$3.5M	$1.9M	50x	as long as short