AAVE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.158%

7d average—if it closes, per $10,000$16funding while held, a day+$4.77

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange AAVEUSD	145.48	−0.0120	get 0.0015% / 1h	47m 25s	$11K	$2K	5x
Short	Phemex AAVEUSDT	145.71	0.0039	get 0.0039% / 8h	47m 25s	$4.1M	$3.9M	50x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee 01 ExchangebpFee PhemexbpOrdersClose when spread is

Spread captured: $15.81
Funding while held: $4.77
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: $1.58
Spread needed to break even: 0.190%

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0159%
Per $10,000 a day: +$4.77
Average in range /8h: —

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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	4.11 bp	21.6 bp −$22	26.9 bp −$269	doesn't fit	doesn't fit

01 Exchange: 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 price on every exchange

against the cheapest. Click to use as the short leg.

Injective136.96cheapest

Deribit144.15+5.250%Bulk145.01+5.878%Paradex145.37+6.137%Extended145.37+6.139%Gate145.37+6.140%Pacifica145.41+6.167%Bitget145.47+6.213%

01 Exchange145.48+6.221%

Aster145.49+6.228%Binance145.50+6.235%Reya145.52+6.250%Bybit145.53+6.257%MEXC145.53+6.257%RISEx145.54+6.262%OKX145.54+6.265%Arcus145.54+6.265%KuCoin145.58+6.294%dYdX145.58+6.295%BingX145.59+6.301%Lighter145.61+6.315%Polymarket Perps145.64+6.338%Backpack145.65+6.345%SoDEX145.70+6.381%GMX145.70+6.383%Phoenix145.71+6.389%Orderly145.71+6.389%

Phemex145.71+6.389%

gTrade (Gains Network)145.71+6.391%SunX145.73+6.400%Nado145.75+6.418%Aevo145.75+6.421%Hyperliquid145.76+6.427%Coinbase International145.80+6.454%Kraken Futures145.81+6.461%HTX145.83+6.476%Variational Omni145.84+6.481%Kalshi145.84+6.484%BloFin145.90+6.527%edgeX146.01+6.607%ApeX Omni146.08+6.659%

AAVE on 41 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	−5.856%	+0.0033%	1h	$422	$197K	12x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.914%	−1.1135%	1h	$223K	$297K	50x	as long as short
Bulk AAVE-USD	−0.323%	+0.0100%	1h	$59K	$20K	10x	as long as short
Paradex AAVE-USD-PERP	−0.079%	+0.0100%	8h	$14K	$3K	20x	as long as short
Extended AAVE-USD	−0.077%	+0.0104%	1h	$1.0M	$1.4M	50x	as long as short
Gate AAVE_USDT	−0.076%	+0.0087%	8h	$7.9M	$12.9M	75x	as long as short
Pacifica AAVE	−0.051%	+0.0068%	1h	$340K	$437K	10x	as long as short
Bitget AAVEUSDT	−0.007%	+0.0100%	8h	$29.6M	$15.5M	75x	as long as short
01 Exchange AAVEUSDlong	0.000%	−0.0120%	1h	$11K	$2K	5x
Aster AAVEUSDT	+0.007%	+0.0100%	8h	$1.4M	$1.1M	50x	as long as short

Show all 41 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.014%	+0.0079%	8h	$66.0M	$172.2M	75x	as long as short
Reya AAVERUSDPERP	+0.027%	+0.0044%	1h	—	—	20x	as long as short
Bybit AAVEUSDT	+0.034%	+0.0099%	8h	$61.4M	$61.0M	75x	as long as short
MEXC AAVE_USDT	+0.034%	+0.0081%	8h	$25.0M	$23.0M	200x	as long as short
RISEx AAVE/USDC	+0.039%	+0.0079%	1h	$192K	$249K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.041%	+0.0010%	8h	$18.4M	$65.2M	50x	as long as short
Arcus AAVE-USD	+0.041%	+0.0100%	1h	$57K	$383K	10x	as long as short
KuCoin AAVEUSDTM	+0.069%	+0.0086%	8h	$10.0M	$8.1M	75x	as long as short
dYdX AAVE-USD	+0.070%	0.0000%	1h	$105K	$5K	10x	as long as short
BingX AAVE-USDT	+0.076%	+0.0100%	8h	—	$41.3M	—	as long as short
Lighter AAVE	+0.089%	+0.0096%	1h	$4.7M	$1.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.110%	+0.0100%	1h	$131K	$604K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.117%	+0.0100%	1h	$306K	$512K	10x	as long as short
SoDEX AAVE-USD	+0.151%	−0.0148%	1h	$5K	$285K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	+0.152%	L +0.0270% / S −0.0498%	1h	$131K	—	100x	as long as short
Phoenix AAVE	+0.158%	+0.0011%	1h	$4K	$77K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.158%	+0.0054%	8h	$18K	$17K	10x	as long as short
Phemex AAVEUSDTshort	+0.158%	+0.0039%	8h	$4.1M	$3.9M	50x
gTrade (Gains Network) AAVE/USD	+0.160%	L +0.0005% / S −0.0004%	1h	$70K	—	150x	as long as short
SunX AAVE-USDT	+0.169%	+0.0100%	8h	$1K	$1.2M	20x	as long as short
Nado AAVE-PERP	+0.186%	+0.0100%	1h	$830K	$425K	10x	as long as short
Aevo AAVE-PERP	+0.189%	+0.0104%	1h	$123K	$146	10x	as long as short
Hyperliquid AAVE	+0.194%	+0.0100%	1h	$81.9M	$24.1M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.220%	+0.0288%	1h	$786K	$3.2M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.226%	+0.0115%	1h	$3.5M	$2.0M	50x	as long as short
HTX AAVE-USDT	+0.240%	+0.0100%	8h	$730K	$4.4M	75x	as long as short
Variational Omni AAVE	+0.245%	+0.0020%	8h	$3.8M	$1.3M	—	as long as short
Kalshi KXAAVEPERP	+0.247%	0.0000%	8h	$73K	$1.3M	3.4x	as long as short
BloFin AAVE-USDT	+0.289%	+0.0201%	8h	$3.7M	$5.6M	100x	as long as short
edgeX AAVEUSDC	+0.364%	+0.0100%	4h	$99K	$310K	20x	as long as short
ApeX Omni AAVEUSDT	+0.412%	+0.0100%	1h	$135K	$238K	50x	as long as short