Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.047%

Price spread now: Variational Omni against Bulk−0.047%7-day average — · you buy dearer than you sell

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

Long on Bulk Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.047% cheaper against Bulk than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk AAVE-USD	144.33	0.0100	pay 0.0013% / 1h	17m 17s	$61K	$3K	10x
Short	Variational Omni AAVE	144.27	0.0100	get 0.0100% / 8h	2h 17m	$3.8M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bulk. 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 BulkbpFee Variational OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → 0.000%: −$4.69
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.69
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Bulk: no order-book sample; Variational Omni: RFQ quote, 2 min ago. 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 Bulk no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	3.05 bp	doesn't fit	15.3 bp −$153	doesn't fit	doesn't fit

Bulk: 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
Deribit AAVE_USDC-PERPETUAL	−0.0374%	1h	144.19	−0.100%	$253K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0184%	1h	144.18	−0.107%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0120%	1h	144.24	−0.066%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.27	−0.045%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.27	−0.046%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.16	−0.121%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.23	−0.073%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.30	−0.025%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.109%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.17	−0.112%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0048%	8h	144.15	−0.128%	$31.3M	$26.3M	200x	as long as short
Binance AAVEUSDT	+0.0048%	8h	144.16	−0.120%	$65.6M	$184.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.19	−0.100%	$17.4M	$66.0M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.18	−0.107%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0051%	8h	144.19	−0.100%	$7.7M	$15.9M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0055%	1h	144.42	+0.059%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0085%	8h	144.18	−0.109%	$455K	$3.9M	10x	as long as short
Nado AAVE-PERP	+0.0089%	1h	144.18	−0.107%	$800K	$436K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.38	+0.029%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.19	−0.100%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.24	−0.068%	$179K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.18	−0.106%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.32	−0.008%	$80.2M	$33.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.23	−0.071%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.16	−0.122%	$328K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.20	−0.093%	$61.3M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.20	−0.093%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.25	−0.059%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.20	−0.093%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.18	−0.107%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.41	+0.052%	$377K	$703K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	144.27	−0.047%	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	144.14	−0.136%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.28	−0.038%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.17	−0.116%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.45	+0.081%	$718K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.14	−0.135%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USDlong	+0.0100%	1h	144.33	long leg	$61K	$3K	10x
Extended AAVE-USD	+0.0104%	1h	144.16	−0.119%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0168%	8h	144.18	−0.107%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	+0.018%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.23	−0.070%	$124K	—	100x	as long as short