Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Phemex against SunX−0.049%7-day average +0.020% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1611.607% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now −0.049%, 7d avg +0.020%

Together, before fees+0.044%+$4 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: Phemex is 0.069% cheaper against SunX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AAVE-USDT	143.74	0.0100	pay 0.0100% / 8h	5h 11m	$1K	$1.3M	20x
Short	Phemex AAVEUSDT	143.67	0.0100	get 0.0100% / 8h	5h 11m	$4.1M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → +0.020%: −$6.93
Slippage, 4 orders: −$140.68
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$167.62
Costs to cover: 1.607%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Phemex: 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	44.90 bp	66.3 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.09 bp	14.8 bp −$15	21.2 bp −$212	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
Deribit AAVE_USDC-PERPETUAL	−0.0376%	1h	143.61	−0.091%	$228K	$389K	50x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	143.73	−0.008%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.62	−0.084%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.71	−0.022%	$59K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.73	−0.006%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.718%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.64	−0.067%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	143.66	−0.056%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0056%	1h	143.78	+0.027%	$830K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.07	+0.229%	$5K	$98K	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	143.82	+0.052%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.58	−0.111%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.74	−0.001%	$77.8M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.67	−0.048%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.64	−0.070%	$327K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.73	−0.008%	$64.3M	$182.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.76	+0.013%	$61.3M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.76	+0.013%	$17.2M	$63.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.77	+0.020%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.232%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.65	−0.063%	$7.8M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.65	−0.063%	$26.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.68	−0.042%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.68	−0.042%	$30.1M	$17.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.69	−0.035%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.65	−0.063%	$320K	$691K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	+0.373%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.82	+0.053%	$104K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.88	+0.099%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.90	+0.111%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.74	−0.001%	$128K	$422K	10x	as long as short
SunX AAVE-USDTlong	+0.0100%	8h	143.74	long leg	$1K	$1.3M	20x
SoDEX AAVE-USD	+0.0100%	1h	143.63	−0.077%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.76	+0.013%	$692K	$5.2M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	143.67	−0.049%	$4.1M	$3.7M	50x
Extended AAVE-USD	+0.0104%	1h	143.66	−0.054%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.69	−0.032%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.80	+0.043%	$185K	$236K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.85	+0.076%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.72	−0.013%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	143.72	−0.015%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.02	+0.194%	$783K	$2.8M	50x	as long as short