Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.002%

Price spread now: BingX against RISEx+0.028%7-day average −0.006% · 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−$38as in the Price arb table

costs, in and out, $10k−$410.415% of the position

Long on RISEx Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.028%, 7d avg −0.006%

Together, before fees+0.054%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BingX is 0.034% dearer against RISEx than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	143.68	0.0046	pay 0.0006% / 1h	59m 03s	$179K	$246K	10x
Short	BingX AAVE-USDC	143.72	0.0100	get 0.0100% / 8h	1h 59m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $11.32
Price spread: +0.028% → −0.006%: $3.41
Slippage, 4 orders: −$25.45
Fee RISEx: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$26.71
Costs to cover: 0.415%
Break-even: 23.5 days

Slippage from RISEx: live order book, 24 min ago; BingX: live order book, 7 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, 24 min ago	2.28 bp	5.3 bp −$5	10.2 bp −$102	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	0.70 bp	14.6 bp −$15	39.9 bp −$399	219.5 bp −$21.9K	609.5 bp −$304.7K

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
Deribit AAVE_USDC-PERPETUAL	−0.0376%	1h	143.75	+0.049%	$252K	$489K	50x	as long as short
Nado AAVE-PERP	−0.0308%	1h	143.68	+0.001%	$795K	$438K	10x	as long as short
SoDEX AAVE-USD	−0.0294%	1h	143.70	+0.014%	$5K	$298K	10x	as long as short
01 Exchange AAVEUSD	−0.0256%	1h	143.63	−0.034%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	143.51	−0.118%	$5K	$98K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.63	−0.031%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.50	−0.125%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.83	+0.106%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.677%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	143.74	+0.042%	$31.1M	$25.6M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0043%	8h	143.65	−0.020%	$65.3M	$185.5M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.75	+0.046%	—	—	20x	as long as short
RISEx AAVE/USDClong	+0.0046%	1h	143.68	long leg	$179K	$246K	10x
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.72	+0.028%	$18K	$12K	10x	as long as short
Bulk AAVE-USD	+0.0049%	1h	143.56	−0.083%	$60K	$3K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0054%	8h	143.61	−0.048%	$17.3M	$66.0M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0055%	1h	143.79	+0.075%	$3.4M	$2.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0056%	1h	143.58	−0.069%	$133K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0061%	8h	143.73	+0.035%	$7.8M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	143.74	+0.042%	$121K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0089%	8h	143.62	−0.041%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.91	+0.158%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.52	−0.113%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.83	+0.105%	$78.9M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.76	+0.057%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.56	−0.081%	$327K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.71	+0.021%	$61.0M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.62	−0.041%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.74	+0.042%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.74	+0.042%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDCshort	+0.0100%	8h	143.72	+0.028%	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.84	+0.112%	$379K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.65	−0.021%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.53	−0.102%	$101K	$315K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.84	+0.112%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.66	−0.011%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.70	+0.014%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.74	+0.042%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.69	+0.006%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	143.71	+0.021%	$3.5M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.83	+0.107%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	143.80	+0.084%	$772K	$3.0M	50x	as long as short