Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0228%/8h= −25.0% APRnext payment −$0.28 per $10,000 · paid last 24h —

Price spread now: Reya against Coinbase International−0.121%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Reya is 0.121% cheaper against Coinbase International than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	145.10	0.0272	pay 0.0034% / 1h	38m 30s	$783K	$3.0M	50x
Short	Reya AAVERUSDPERP	144.92	0.0044	get 0.0006% / 1h	38m 30s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Coinbase International. 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 Coinbase InternationalbpFee ReyabpOrdersPrice spread, now −0.121%Rate

Funding earned: −$47.85
Price spread: −0.121% → 0.000%: −$12.1
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$75.95
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 5 min ago; Reya: 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 Coinbase International live order book, 5 min ago	4.49 bp	11.4 bp −$11	16.0 bp −$160	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0176%	1h	145.10	0.000%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0079%	1h	144.88	−0.152%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.79	−0.214%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	144.92	−0.124%	$254K	$480K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.05	−0.037%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.88	−0.152%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.00	−0.072%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.610%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	145.05	−0.034%	$31.1M	$25.7M	200x	as long as short
Binance AAVEUSDT	+0.0035%	8h	145.10	0.000%	$65.9M	$185.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERPshort	+0.0044%	1h	144.92	−0.121%	—	—	20x
RISEx AAVE/USDC	+0.0046%	1h	145.14	+0.026%	$181K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	145.16	+0.041%	$17.6M	$66.8M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.88	−0.152%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.96	−0.095%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0063%	8h	145.07	−0.021%	$7.8M	$15.8M	75x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	−0.286%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.92	−0.125%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.65	−0.310%	$462K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.26	+0.112%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.06	−0.025%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.03	−0.052%	$803K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.12	+0.014%	$79.7M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.09	−0.008%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.06	−0.028%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.13	+0.021%	$61.6M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.10	0.000%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.02	−0.055%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.04	−0.041%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.07	−0.021%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.00	−0.069%	$381K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	−0.284%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.63	−0.324%	$103K	$314K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	−0.262%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.02	−0.055%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.92	−0.121%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.99	−0.076%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.79	−0.214%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.05	−0.034%	$929K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0139%	8h	144.86	−0.165%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.99	−0.074%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0272%	1h	145.10	long leg	$783K	$3.0M	50x