Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.007%

Price spread now: Orderly against gTrade (Gains Network)−0.059%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Orderly

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—needs both histories

Funding pays, the price is against you. Orderly is 0.059% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 4.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) AAVE/USD	141.93	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	47m 59s	$79K	—	150x
Short	Orderly PERP_AAVE_USDC	141.85	0.0046	get 0.0046% / 8h	4h 47m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OrderlybpOrdersPrice spread, now −0.059%Rate

Funding earned: $8.6
Price spread: −0.059% → 0.000%: −$5.92
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$13.31
Costs to cover: 0.160%
Break-even: 17.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and 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
Deribit AAVE_USDC-PERPETUAL	−0.7011%	1h	140.82	−0.785%	$221K	$396K	50x	as long as short
01 Exchange AAVEUSD	−0.0168%	1h	141.86	−0.052%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0078%	1h	141.79	−0.101%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.88	−0.036%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.60	−0.235%	$47K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USDlong	L +0.0005% / S −0.0004%	1h	141.93	long leg	$79K	—	150x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.504%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.85	−0.062%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0046%	8h	141.85	−0.059%	$18K	$10K	10x
Phoenix AAVE	+0.0056%	1h	142.03	+0.068%	$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
Nado AAVE-PERP	+0.0074%	1h	141.94	+0.008%	$844K	$445K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.81	−0.087%	$4.5M	$1.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.77	−0.117%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.89	−0.031%	$76.6M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.73	−0.141%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.78	−0.108%	$322K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.77	−0.118%	$63.5M	$185.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.77	−0.116%	$60.7M	$66.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.85	−0.059%	$17.0M	$63.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.97	+0.025%	$63K	$204K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.82	−0.080%	$7.9M	$15.6M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.83	−0.073%	$25.2M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.85	−0.059%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.74	−0.137%	$28.9M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.76	−0.123%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.90	−0.024%	$337K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.06	+0.089%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.49	+0.393%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.52	+0.413%	$450K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.05	+0.082%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.95	+0.011%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.81	−0.090%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.03	+0.065%	$683K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.76	−0.123%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.523%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.78	−0.111%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.64	−0.211%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.97	+0.027%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.55	−0.271%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.91	−0.014%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	141.87	−0.045%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.13	+0.138%	$775K	$2.8M	50x	as long as short