Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.016%

Price spread now: BloFin against RISEx−0.027%97s7-day average −0.008% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.263% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.124%+$12 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.027%, 7d avg −0.008%

Together, before fees+0.274%+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	143.91	0.0207	pay 0.0026% / 1h	1m 20s	$199K	$262K	10x
Short	BloFin AAVE-USDT	143.87	0.0220	get 0.0220% / 8h	2h 01m	$3.3M	$3.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.027%Rate

Funding earned: $2.69
Price spread: −0.027% → −0.008%: −$1.89
Slippage, 4 orders: −$8.29
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.49
Costs to cover: 0.263%
Break-even: 73.3 days

Slippage from RISEx: live order book, 47 min ago; BloFin: live order book, 2 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, 47 min ago	1.40 bp	4.4 bp −$4	10.3 bp −$103	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.35 bp	9.4 bp −$9	15.0 bp −$150	32.9 bp −$3,288	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
dYdX AAVE-USD	0.0000%	1h	143.93	+0.012%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.90	−0.006%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.88	−0.020%	$219K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.81	−0.071%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0030%	1h	143.86	−0.034%	$835K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.828%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.76	−0.106%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0074%	8h	143.81	−0.068%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.79	−0.083%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.88	−0.019%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.89	−0.012%	$328K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.80	−0.075%	$64.7M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.79	−0.082%	$61.9M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.77	−0.096%	$17.3M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.94	+0.022%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.001%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.81	−0.068%	$8.0M	$16.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.81	−0.068%	$25.0M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.85	−0.041%	$10.4M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.78	−0.089%	$29.4M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.79	−0.082%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	144.00	+0.063%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.85	−0.041%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.91	+0.001%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.07	+0.112%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.86	−0.034%	$143K	$469K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.90	−0.009%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.88	−0.020%	$5K	$314K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.99	+0.053%	$683K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.90	−0.006%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.76	−0.106%	$915K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.84	−0.046%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	144.03	+0.084%	$4K	$106K	10x	as long as short
01 Exchange AAVEUSD	+0.0128%	1h	143.89	−0.013%	$11K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0165%	1h	144.00	+0.064%	$78.7M	$37.2M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0167%	1h	144.02	+0.077%	$341K	$727K	10x	as long as short
RISEx AAVE/USDClong	+0.0207%	1h	143.91	long leg	$199K	$262K	10x
BloFin AAVE-USDTshort	+0.0220%	8h	143.87	−0.027%	$3.3M	$3.6M	100x
Kraken Futures PF_AAVEUSD	+0.0235%	1h	144.01	+0.068%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.81	−0.068%	$112K	—	100x	as long as short
Lighter AAVE	+0.0256%	1h	144.09	+0.124%	$4.6M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.94	+0.022%	$768K	$2.9M	50x	as long as short