Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.034%

Price spread now: Bybit against SunX+0.109%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1481.484% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 3 days (all we have)−0.291%−$29 · spread now +0.109%, 7d avg −0.015%

Together, before fees−0.427%−$43 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 0.124% dearer against SunX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AAVE-USDT	146.19	0.0100	pay 0.0100% / 8h	52m 02s	$1K	$1.3M	20x
Short	Bybit AAVEUSDT	146.35	0.0100	get 0.0100% / 8h	52m 02s	$62.5M	$66.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.109%Rate

Funding earned: $0
Price spread: +0.109% → −0.015%: $12.38
Slippage, 4 orders: −$129.43
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$136.05
Costs to cover: 1.484%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Bybit: 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 SunX live order book, 2 min ago	44.86 bp	65.4 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.34 bp	7.8 bp −$8	14.2 bp −$142	57.5 bp −$5,751	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
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.24	+0.034%	$256K	$412K	50x	as long as short
SoDEX AAVE-USD	−0.0041%	1h	146.23	+0.027%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.30	+0.075%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.29	+0.067%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.32	+0.088%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.32	+0.088%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.24	+0.036%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0016%	1h	146.30	+0.075%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.314%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.36	+0.116%	$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	146.30	+0.076%	$66.7M	$185.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.21	+0.010%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.21	+0.013%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0070%	8h	146.35	+0.109%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.27	+0.054%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.26	+0.047%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.46	+0.185%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.20	+0.008%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.23	+0.027%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.31	+0.079%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.23	+0.028%	$334K	$504K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	146.35	+0.109%	$62.5M	$66.1M	75x
Arcus AAVE-USD	+0.0100%	1h	146.25	+0.040%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.274%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.26	+0.047%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.38	+0.129%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.32	+0.088%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.32	+0.085%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.32	+0.091%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.39	+0.138%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	+0.020%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.28	+0.061%	$128K	$466K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	146.19	long leg	$1K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	146.28	+0.060%	$700K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.25	+0.040%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.33	+0.093%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.29	+0.065%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	146.25	+0.040%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0189%	1h	146.46	+0.184%	$80.9M	$34.3M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0245%	1h	146.38	+0.129%	$353K	$733K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.26	+0.048%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.163%	$795K	$3.0M	50x	as long as short