Funding you earn now, next payment 21:00 UTC−0.0250%/8h= −27.3% APRnext payment −$0.31 per $10,000 · paid last 24h −0.037%
Price spread now: SoDEX against Phoenix+0.132%7-day average −0.073% · 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−$17as in the Price arb table
costs, in and out, $10k−$380.377% of the position
Funding, last 3 days (all we have)−0.052%−$5 on $10k
+Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.132%, 7d avg −0.073%
=The price spread pays, funding is against you. SoDEX is 0.206% dearer against Phoenix than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.073%): +$21 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 3 days (−0.052% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.052% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix AAVE | 143.51 | −0.0044 | get 0.0005% / 1h | 58m 37s | $5K | $98K | 10x |
| Short | SoDEX AAVE-USD | 143.70 | −0.0294 | pay 0.0037% / 1h | 58m 37s | $5K | $298K | 10x |
Phoenix AAVE
SoDEX AAVE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$52.45
- Price spread: +0.132% → −0.073%
- $20.56
- Slippage, 4 orders
- −$22.67
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$69.56
- Costs to cover
- 0.377%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 54 min ago; SoDEX: live order book, 25 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, 54 min ago | 0.69 bp | 13.8 bp −$14 | 54.2 bp −$542 | doesn't fit | doesn't fit |
| Sell SoDEX live order book, 25 min ago | 0.35 bp | 5.1 bp −$5 | 10.0 bp −$100 | 96.4 bp −$9,638 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit AAVE_USDC-PERPETUAL | −0.0376% | 1h | 143.75 | +0.167% | $252K | $489K | 50x | as long as short |
| Nado AAVE-PERP | −0.0308% | 1h | 143.68 | +0.118% | $795K | $438K | 10x | as long as short |
| SoDEX AAVE-USDshort | −0.0294% | 1h | 143.70 | +0.132% | $5K | $298K | 10x | |
| 01 Exchange AAVEUSD | −0.0256% | 1h | 143.63 | +0.084% | $10K | $2K | 5x | as long as short |
| Phoenix AAVElong | −0.0044% | 1h | 143.51 | long leg | $5K | $98K | 10x | |
| dYdX AAVE-USD | 0.0000% | 1h | 143.80 | +0.200% | $103K | $5K | 10x | as long as short |
| Kalshi KXAAVEPERP | 0.0000% | 8h | 143.50 | −0.007% | $67K | $1.5M | 3.4x | as long as short |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 143.83 | +0.224% | $70K | — | 150x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −4.564% | $422 | $51K | 12x | as long as short |
| Binance AAVEUSDT | +0.0041% | 8h | 143.56 | +0.035% | $65.2M | $185.5M | 75x | as long as short |
Deribit AAVE_USDC-PERPETUAL
Nado AAVE-PERP
01 Exchange AAVEUSD
dYdX AAVE-USD
Kalshi KXAAVEPERP
gTrade (Gains Network) AAVE/USD
Injective AAVE/USDC PERP
Binance AAVEUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC AAVE_USDT | +0.0042% | 8h | 143.58 | +0.049% | $31.0M | $25.6M | 200x | as long as short |
| Reya AAVERUSDPERP | +0.0044% | 1h | 143.75 | +0.164% | — | — | 20x | as long as short |
| RISEx AAVE/USDC | +0.0046% | 1h | 143.63 | +0.087% | $179K | $246K | 10x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0049% | 8h | 143.72 | +0.146% | $18K | $12K | 10x | as long as short |
| Bulk AAVE-USD | +0.0049% | 1h | 143.56 | +0.035% | $60K | $3K | 10x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0054% | 8h | 143.57 | +0.042% | $17.3M | $65.9M | 50x | as long as short |
| Kraken Futures PF_AAVEUSD | +0.0055% | 1h | 143.79 | +0.193% | $3.4M | $2.1M | 50x | as long as short |
| ApeX Omni AAVEUSDT | +0.0056% | 1h | 143.58 | +0.049% | $133K | $229K | 50x | as long as short |
| Gate AAVE_USDT | +0.0061% | 8h | 143.69 | +0.125% | $7.8M | $15.8M | 75x | as long as short |
| Aevo AAVE-PERP | +0.0088% | 1h | 143.74 | +0.160% | $121K | $146 | 10x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0089% | 8h | 143.62 | +0.077% | $449K | $3.9M | 10x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 143.75 | +0.170% | $4.6M | $1.6M | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 143.56 | +0.037% | $13K | $4K | 20x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 143.72 | +0.146% | $78.9M | $33.9M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 143.70 | +0.133% | $1.3M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 143.59 | +0.059% | $327K | $505K | 10x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 143.61 | +0.070% | $61.0M | $65.6M | 75x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 143.60 | +0.063% | $50K | $273K | 10x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 143.58 | +0.049% | $9.9M | $8.6M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 143.58 | +0.049% | $29.9M | $18.2M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 143.60 | +0.063% | — | $43.9M | — | as long as short |
| Backpack AAVE_USDC_PERP | +0.0100% | 1h | 143.84 | +0.230% | $379K | $709K | 10x | as long as short |
| Variational Omni AAVE | +0.0100% | 8h | 143.65 | +0.097% | $3.8M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 143.53 | +0.016% | $101K | $315K | 20x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 143.84 | +0.230% | $126K | $468K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 143.66 | +0.107% | $2K | $1.3M | 20x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 143.70 | +0.132% | $714K | $4.9M | 75x | as long as short |
| Phemex AAVEUSDT | +0.0100% | 8h | 143.74 | +0.160% | $4.1M | $3.8M | 50x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 143.59 | +0.055% | $919K | $1.8M | 50x | as long as short |
| BloFin AAVE-USDT | +0.0163% | 8h | 143.71 | +0.139% | $3.5M | $5.3M | 100x | as long as short |
| GMX AAVE/USD [AAVE-USDC] | L +0.0267% / S −0.0438% | 1h | 143.83 | +0.226% | $124K | — | 100x | as long as short |
| Coinbase International AAVE-PERP-INTX | +0.0272% | 1h | 143.80 | +0.202% | $772K | $3.0M | 50x | as long as short |
MEXC AAVE_USDT
Reya AAVERUSDPERP
RISEx AAVE/USDC
Orderly PERP_AAVE_USDC
Bulk AAVE-USD
OKX AAVE-USDT-SWAP
Kraken Futures PF_AAVEUSD
ApeX Omni AAVEUSDT
Gate AAVE_USDT
Aevo AAVE-PERP
GRVT AAVE_USDT_Perp
Lighter AAVE
Paradex AAVE-USD-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Bybit AAVEUSDT
Arcus AAVE-USD
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Backpack AAVE_USDC_PERP
Variational Omni AAVE
edgeX AAVEUSDC
Polymarket Perps AAVE-USD
SunX AAVE-USDT
HTX AAVE-USDT
Phemex AAVEUSDT
Extended AAVE-USD
BloFin AAVE-USDT
GMX AAVE/USD [AAVE-USDC]
Coinbase International AAVE-PERP-INTX