Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.023%

Price spread now: Bybit against RISEx−0.118%7-day average −0.018% · 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−$270.269% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.118%, 7d avg −0.018%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.100% cheaper against RISEx than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	146.17	0.0106	pay 0.0013% / 1h	21m 19s	$186K	$246K	10x
Short	Bybit AAVEUSDT	146.00	0.0100	get 0.0100% / 8h	21m 19s	$62.3M	$66.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$1.25
Price spread: −0.118% → −0.018%: −$10.01
Slippage, 4 orders: −$9.91
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.16
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from RISEx: live order book, 57 min ago; Bybit: live order book, 3 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, 57 min ago	1.31 bp	4.3 bp −$4	7.8 bp −$78	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.34 bp	8.1 bp −$8	15.5 bp −$155	61.0 bp −$6,102	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
SoDEX AAVE-USD	−0.0074%	1h	145.98	−0.132%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.39	+0.149%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.02	−0.104%	$255K	$389K	50x	as long as short
01 Exchange AAVEUSD	−0.0016%	1h	146.13	−0.029%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.22	+0.032%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.04	−0.091%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.10	−0.053%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.10	−0.046%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.302%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0040%	8h	146.04	−0.092%	$66.6M	$186.4M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0040%	8h	146.07	−0.070%	$29.9M	$26.0M	200x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.05	−0.083%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	145.98	−0.132%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0072%	8h	145.97	−0.139%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0073%	8h	146.08	−0.063%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.97	−0.138%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.35	+0.121%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.16	−0.009%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.08	−0.060%	$805K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.21	+0.026%	$80.6M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.23	+0.036%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.20	+0.020%	$334K	$504K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	146.00	−0.118%	$62.3M	$66.1M	75x
Arcus AAVE-USD	+0.0100%	1h	146.13	−0.029%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	−0.070%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.11	−0.043%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.99	−0.125%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.06	−0.077%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.29	+0.080%	$347K	$748K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.06	−0.080%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.60	−0.394%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.68	−0.337%	$468K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.78	−0.269%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.16	−0.009%	$128K	$457K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.99	−0.122%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.20	+0.019%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.09	−0.056%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.93	−0.164%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDClong	+0.0106%	1h	146.17	long leg	$186K	$246K	10x
BloFin AAVE-USDT	+0.0160%	8h	146.06	−0.077%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.10	−0.050%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.11	−0.043%	$789K	$3.0M	50x	as long as short