Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.260%

Price spread now: Variational Omni against Deribit+0.028%7-day average −0.009% · you sell dearer than you buy

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.303%+$30 on $10k

Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.028%, 7d avg −0.009%

Together, before fees−0.007%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.037% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	142.69	0	get 0.0000% / 1h	4m 14s	$219K	$401K	50x
Short	Variational Omni AAVE	142.73	0.0100	get 0.0100% / 8h	4h 04m	$3.7M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee Variational OmnibpOrdersPrice spread, now +0.028%Rate

Funding earned: $21
Price spread: +0.028% → −0.009%: $3.73
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $17.73
Costs to cover: 0.070%
Break-even: 1.1 days

Slippage unknown: Deribit: live order book, 50 min ago; Variational Omni: RFQ quote, 5 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 Deribit live order book, 50 min ago	5.26 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.08 bp	doesn't fit	11.4 bp −$114	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
01 Exchange AAVEUSD	−0.0136%	1h	142.60	−0.063%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.60	−0.061%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.64	−0.035%	$56K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	142.69	long leg	$219K	$401K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.68	−0.006%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0012%	1h	142.56	−0.091%	$839K	$449K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.016%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.65	−0.030%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	142.65	−0.028%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.01	+0.224%	$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
SoDEX AAVE-USD	+0.0074%	1h	142.68	−0.007%	$5K	$302K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.88	+0.132%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.58	−0.074%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.84	+0.105%	$77.7M	$36.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.64	−0.036%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.58	−0.077%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.65	−0.028%	$63.6M	$186.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.66	−0.021%	$61.3M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.66	−0.021%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.69	0.000%	$64K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.112%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.68	−0.007%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.64	−0.035%	$25.1M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.67	−0.014%	$10.5M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.58	−0.077%	$29.0M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.68	−0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.63	−0.042%	$335K	$721K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	142.73	+0.028%	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	142.88	+0.133%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.87	+0.129%	$460K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.90	+0.147%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.72	+0.021%	$124K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.56	−0.092%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.094%	$687K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.72	+0.021%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.62	−0.046%	$898K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.69	+0.003%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.66	−0.024%	$178K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.55	−0.098%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.68	−0.005%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.85	+0.111%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.92	+0.161%	$793K	$2.8M	50x	as long as short