Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against SunX−4.561%61s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.561% cheaper against SunX than usual: you would sell low and buy high (−$456 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 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	SunX AAVE-USDT	143.51	0.0100	pay 0.0100% / 8h	3h 53m	$2K	$1.3M	20x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	53m 21s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −4.561%Rate

Funding earned: −$14
Price spread: −4.561% → 0.000%: −$456.15
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$478.17
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Injective: no order-book sample. Net counts fees only.

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, 11 min ago	44.91 bp	66.4 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	143.66	+0.108%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.53	+0.017%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.53	+0.017%	$219K	$402K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.04	+0.370%	$81K	—	150x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−4.561%	$422	$51K	12x
Phoenix AAVE	+0.0033%	1h	143.71	+0.142%	$4K	$106K	10x	as long as short
Phemex AAVEUSDT	+0.0034%	8h	143.55	+0.031%	$4.0M	$3.7M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.96	+0.314%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.05	+0.379%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0053%	1h	143.95	+0.309%	$847K	$398K	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	143.86	+0.246%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.82	+0.221%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.82	+0.222%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.77	+0.181%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.07	+0.393%	$64.4M	$187.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.05	+0.379%	$62.0M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.06	+0.386%	$17.2M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.95	+0.309%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	+0.212%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.97	+0.323%	$8.2M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	144.03	+0.365%	$25.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.82	+0.219%	$10.6M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.93	+0.295%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.04	+0.372%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.088%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.71	+0.140%	$104K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.54	+0.022%	$462K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.75	+0.170%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.04	+0.372%	$127K	$442K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	143.51	long leg	$2K	$1.3M	20x
SoDEX AAVE-USD	+0.0100%	1h	143.50	−0.004%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.91	+0.282%	$692K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.02	+0.361%	$911K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.10	+0.416%	$122K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	143.93	+0.295%	$11K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.91	+0.284%	$185K	$250K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0179%	1h	143.60	+0.066%	$337K	$720K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.95	+0.309%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0247%	1h	143.61	+0.072%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	144.04	+0.375%	$113K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	144.18	+0.470%	$791K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0414%	1h	144.20	+0.484%	$79.3M	$36.7M	10x	as long as short