AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0075%/8h= −8.2% APRnext payment −$0.09 per $10,000 · paid last 24h −0.002%

Price spread now: Backpack against RISEx−0.106%7-day average +0.016% · 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−$37as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.037%+$4 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.106%, 7d avg +0.016%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.122% cheaper against RISEx than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	140.55	0.0175	pay 0.0022% / 1h	49m 48s	$172K	$229K	10x
Short	Backpack AAVE_USDC_PERP	140.40	0.0100	get 0.0013% / 1h	49m 48s	$384K	$592K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$15.79
Price spread: −0.106% → +0.016%: −$12.22
Slippage, 4 orders: −$8.67
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$52.69
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from RISEx: live order book, 56 min ago; Backpack: live order book, 57 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 RISEx live order book, 56 min ago	1.27 bp	4.3 bp −$4	8.7 bp −$87	doesn't fit	doesn't fit
Sell Backpack live order book, 57 min ago	0.35 bp	8.0 bp −$8	249.4 bp −$2,494	doesn't fit	doesn't fit

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
Deribit AAVE_USDC-PERPETUAL	−0.7297%	1h	139.39	−0.825%	$205K	$304K	50x	as long as short
SoDEX AAVE-USD	−0.0133%	1h	140.39	−0.113%	$7K	$216K	10x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	140.49	−0.042%	$10K	$2K	5x	as long as short
Bybit AAVEUSDT	−0.0009%	8h	140.16	−0.277%	$60.6M	$58.9M	75x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.26	−0.204%	$101K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.35	−0.142%	$48K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.58	+0.023%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.554%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.47	−0.058%	—	—	20x	as long as short
Variational Omni AAVE	+0.0053%	8h	140.23	−0.229%	$3.6M	$746K	—	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0083%	8h	140.39	−0.113%	$17K	$2K	10x	as long as short
Phemex AAVEUSDT	+0.0090%	8h	140.26	−0.206%	$3.9M	$3.6M	50x	as long as short
Lighter AAVE	+0.0096%	1h	140.39	−0.112%	$4.5M	$2.2M	10x	as long as short
Phoenix AAVE	+0.0097%	1h	140.65	+0.072%	$4K	$81K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.30	−0.181%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.44	−0.078%	$814K	$308K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.27	−0.199%	$76.9M	$27.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.28	−0.192%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.31	−0.170%	$342K	$300K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.18	−0.260%	$63.2M	$157.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.11	−0.312%	$16.1M	$50.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.58	+0.022%	$94K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.57	+0.017%	$165K	$20K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.25	−0.213%	$8.1M	$13.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.20	−0.248%	$22.4M	$21.3M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.37	−0.127%	$10.1M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.10	−0.320%	$29.0M	$16.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.23	−0.227%	—	$34.6M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	140.40	−0.106%	$384K	$592K	10x
edgeX AAVEUSDC	+0.0100%	4h	140.53	−0.015%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.61	+0.042%	$443K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.54	−0.007%	$131K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.61	+0.043%	$131K	$367K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.48	−0.051%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	140.67	+0.088%	$635K	$1.4M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.13	−0.295%	$908K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.39	−0.115%	$119K	—	10x	as long as short
RISEx AAVE/USDClong	+0.0175%	1h	140.55	long leg	$172K	$229K	10x
BloFin AAVE-USDT	+0.0220%	8h	140.12	−0.305%	$3.2M	$3.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0255% / S −0.0365%	1h	140.59	+0.029%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	140.49	−0.042%	$751K	$2.1M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0336%	1h	140.41	−0.099%	$3.4M	$1.8M	50x	as long as short