Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.022%

Price spread now: Orderly against Arcus+0.232%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.232% dearer against Arcus than usual: you sell high and buy low (spread +0.232% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus AAVE-USD	142.23	0.0100	pay 0.0013% / 1h	52m 29s	$44K	$179K	10x
Short	Orderly PERP_AAVE_USDC	142.56	0.0045	get 0.0045% / 8h	4h 52m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Arcus. 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 ArcusbpFee OrderlybpOrdersPrice spread, now +0.232%Rate

Funding earned: −$11.48
Price spread: +0.232% → 0.000%: $23.2
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.22
Costs to cover: 0.105%
Break-even: from the start

Slippage unknown: Arcus: live order book, 6 min ago; Orderly: 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 Arcus live order book, 6 min ago	2.81 bp	10.8 bp −$11	25.4 bp −$254	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
01 Exchange AAVEUSD	−0.0144%	1h	142.19	−0.028%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0035%	1h	142.57	+0.239%	$5K	$297K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.41	+0.125%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.55	+0.225%	$53K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.59	+0.253%	$224K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.55	+0.226%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.705%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.32	+0.065%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0045%	8h	142.56	+0.232%	$18K	$10K	10x
Phoenix AAVE	+0.0056%	1h	142.67	+0.309%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni AAVEUSDT	+0.0065%	1h	142.29	+0.042%	$132K	$219K	50x	as long as short
Nado AAVE-PERP	+0.0067%	1h	142.23	0.000%	$833K	$438K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.40	+0.118%	$4.5M	$1.7M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.35	+0.083%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.59	+0.253%	$77.1M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.54	+0.214%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.40	+0.121%	$324K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.32	+0.063%	$63.8M	$183.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.32	+0.063%	$61.1M	$65.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.33	+0.070%	$17.0M	$63.4M	50x	as long as short
Arcus AAVE-USDlong	+0.0100%	1h	142.23	long leg	$44K	$179K	10x
Gate AAVE_USDT	+0.0100%	8h	142.50	+0.190%	$7.9M	$15.4M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.31	+0.056%	$25.4M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.47	+0.169%	$10.6M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.20	−0.021%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.33	+0.070%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.62	+0.274%	$347K	$707K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.65	+0.296%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.46	+0.159%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.15	−0.056%	$449K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.32	+0.063%	$122K	$385K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.50	+0.193%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.64	+0.287%	$686K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.49	+0.183%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.314%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.16	−0.048%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.60	+0.258%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.27	+0.031%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.49	+0.183%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	142.54	+0.217%	$121K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.62	+0.274%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.415%	$774K	$2.8M	50x	as long as short