Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against SunX+0.093%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1471.472% of the position

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)−0.184%−$18 · spread now +0.093%, 7d avg +0.024%

Together, before fees−0.196%−$20 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: Backpack is 0.069% dearer against SunX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AAVE-USDT	146.41	0.0100	pay 0.0100% / 8h	7h 14m	$1K	$1.3M	20x
Short	Backpack AAVE_USDC_PERP	146.55	0.0100	get 0.0013% / 1h	14m 48s	$332K	$736K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → +0.024%: $6.87
Slippage, 4 orders: −$129.23
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$140.36
Costs to cover: 1.472%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Backpack: live order book, 59 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 SunX live order book, 9 min ago	44.91 bp	66.7 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 59 min ago	0.34 bp	7.5 bp −$8	426.9 bp −$4,269	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.59	+0.123%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.37	−0.030%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0082%	1h	146.44	+0.018%	$5K	$295K	10x	as long as short
Phemex AAVEUSDT	−0.0070%	8h	146.42	+0.004%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.47	+0.038%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.55	+0.093%	$105K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.43	+0.011%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.33	−0.057%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.51	+0.065%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0022%	8h	146.48	+0.045%	$28.9M	$25.8M	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	+0.0023%	8h	146.49	+0.049%	$66.3M	$183.4M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0024%	1h	146.19	−0.153%	$136K	$231K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.457%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.41	−0.004%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.43	+0.011%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.47	+0.038%	$17.9M	$66.4M	50x	as long as short
Gate AAVE_USDT	+0.0077%	8h	146.51	+0.066%	$7.9M	$15.3M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.46	+0.031%	$124K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0093%	8h	146.39	−0.016%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.69	+0.186%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.50	+0.059%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.49	+0.048%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.60	+0.126%	$79.9M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.49	+0.055%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.53	+0.079%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.48	+0.045%	$62.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.45	+0.025%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.429%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.55	+0.093%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.45	+0.025%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.46	+0.031%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERPshort	+0.0100%	1h	146.55	+0.093%	$332K	$736K	10x
Variational Omni AAVE	+0.0100%	8h	146.27	−0.097%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.09	−0.223%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.19	−0.154%	$462K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.52	+0.072%	$127K	$416K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	146.41	long leg	$1K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	146.77	+0.246%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.43	+0.013%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.48	+0.044%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.49	+0.051%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.004%	$785K	$2.9M	50x	as long as short