Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.045%

Price spread now: SunX against SoDEX−0.148%7-day average +0.007% · 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−$158as in the Price arb table

costs, in and out, $10k−$1421.422% of the position

Long on SoDEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.089%+$9 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.148%, 7d avg +0.007%

Together, before fees+0.216%+$22 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: SunX is 0.155% cheaper against SoDEX than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	143.75	0.0100	pay 0.0013% / 1h	45m 01s	$5K	$316K	10x
Short	SunX AAVE-USDT	143.54	0.0100	get 0.0100% / 8h	3h 45m	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against SoDEX. 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 SoDEXbpFee SunXbpOrdersPrice spread, now −0.148%Rate

Funding earned: $0
Price spread: −0.148% → +0.007%: −$15.5
Slippage, 4 orders: −$126.2
Fee SoDEX: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$157.7
Costs to cover: 1.422%
Break-even: never at this rate

Slippage from SoDEX: live order book, 9 min ago; SunX: live order book, 9 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 SoDEX live order book, 9 min ago	0.35 bp	5.2 bp −$5	10.6 bp −$106	98.8 bp −$9,883	doesn't fit
Sell SunX live order book, 9 min ago	44.89 bp	66.5 bp −$66	doesn't fit	doesn't fit	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	143.60	−0.107%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.61	−0.097%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.75	0.000%	$220K	$397K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.71	−0.029%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.723%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.92	+0.118%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0041%	1h	143.56	−0.132%	$845K	$395K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.55	−0.141%	—	—	20x	as long as short
Phemex AAVEUSDT	+0.0051%	8h	143.68	−0.049%	$4.0M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	143.72	−0.021%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.90	+0.105%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.56	−0.133%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.76	+0.009%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.57	−0.124%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.75	+0.001%	$64.3M	$188.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.73	−0.014%	$61.8M	$67.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.72	−0.021%	$17.2M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.65	−0.070%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	+0.042%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.72	−0.021%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.73	−0.014%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.77	+0.014%	$10.6M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.71	−0.028%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.73	−0.014%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	−0.063%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.70	−0.036%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.62	−0.087%	$456K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.78	+0.021%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.66	−0.063%	$132K	$448K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	143.54	−0.148%	$2K	$1.3M	20x
SoDEX AAVE-USDlong	+0.0100%	1h	143.75	long leg	$5K	$316K	10x
HTX AAVE-USDT	+0.0100%	8h	143.85	+0.067%	$693K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.67	−0.052%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.78	+0.019%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	143.62	−0.090%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0120%	1h	143.85	+0.070%	$338K	$720K	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.61	−0.097%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.70	−0.035%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	143.79	+0.026%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.70	−0.032%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.79	+0.028%	$788K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0390%	1h	143.94	+0.132%	$79.2M	$36.7M	10x	as long as short