Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRnext payment −$0.07 per $10,000 · paid last 24h —

Price spread now: Reya against Extended−0.024%7-day average — · you buy dearer than you sell

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

Long on Extended 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 airdropExtended: Active · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.024% cheaper against Extended than usual: you would sell low and buy high (−$2 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	Extended AAVE-USD	144.83	0.0104	pay 0.0013% / 1h	37m 32s	$929K	$1.8M	50x
Short	Reya AAVERUSDPERP	144.79	0.0044	get 0.0006% / 1h	37m 32s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Extended. 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 ExtendedbpFee ReyabpOrdersPrice spread, now −0.024%Rate

Funding earned: −$12.57
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Reya: 3 bp × 2 orders: −$6
Net: −$25.98
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 1 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 Extended live order book, 1 min ago	1.72 bp	5.5 bp −$5	18.5 bp −$185	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	144.86	+0.024%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0070%	1h	145.03	+0.141%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.94	+0.079%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.01	+0.130%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.12	+0.203%	$67K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.21	+0.266%	$255K	$480K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.22	+0.275%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.431%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.84	+0.008%	$65.8M	$185.5M	75x	as long as short
MEXC AAVE_USDT	+0.0035%	8h	144.97	+0.100%	$31.1M	$25.7M	200x	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	144.79	−0.024%	—	—	20x
RISEx AAVE/USDC	+0.0046%	1h	144.93	+0.072%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.83	+0.003%	$17.6M	$66.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	145.15	+0.224%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.10	+0.190%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	144.94	+0.079%	$7.8M	$15.8M	75x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	−0.097%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.07	+0.168%	$123K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.94	+0.080%	$463K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.08	+0.178%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.89	+0.048%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.85	+0.020%	$802K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.95	+0.086%	$79.6M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.04	+0.146%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.94	+0.081%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.83	+0.003%	$61.5M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.88	+0.038%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.94	+0.079%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.93	+0.072%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.93	+0.072%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	+0.259%	$381K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	−0.095%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.85	+0.019%	$103K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.96	+0.093%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.90	+0.052%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.17	+0.241%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.22	+0.275%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.01	+0.127%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USDlong	+0.0104%	1h	144.83	long leg	$929K	$1.8M	50x
BloFin AAVE-USDT	+0.0139%	8h	144.86	+0.024%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.22	+0.275%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.26	+0.300%	$783K	$3.0M	50x	as long as short