Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h —

Price spread now: Reya against GMX−0.111%7-day average — · you buy dearer than you sell

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

Long on GMX 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 −$6 a day on $10k at the current rate, and Reya is 0.111% cheaper against GMX than usual: you would sell low and buy high (−$11 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	GMX AAVE/USD [AAVE-USDC]	143.03	L +0.0252% / S −0.0362%	pay 0.0032% / 1h	56m 22s	$112K	—	100x
Short	Reya AAVERUSDPERP	142.87	0.0044	get 0.0006% / 1h	56m 22s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against GMX. 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 GMXbpFee ReyabpOrdersPrice spread, now −0.111%Rate

Funding earned: −$43.73
Price spread: −0.111% → 0.000%: −$11.15
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$72.88
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

GMX and 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
Nado AAVE-PERP	−0.0072%	1h	142.81	−0.155%	$832K	$401K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0030%	1h	143.01	−0.011%	$219K	$390K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.90	−0.086%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.85	−0.123%	$51K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.04	+0.011%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.241%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	142.46	−0.396%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	142.87	−0.111%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0060%	8h	143.05	+0.017%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0070%	8h	143.02	−0.004%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0088%	1h	142.92	−0.074%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.84	−0.127%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.05	+0.017%	$78.2M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.97	−0.041%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.88	−0.104%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.02	−0.004%	$63.9M	$188.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.04	+0.010%	$61.3M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.00	−0.018%	$17.1M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.97	−0.039%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.61	−0.291%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.00	−0.018%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.92	−0.074%	$25.8M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.94	−0.060%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.98	−0.032%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.01	−0.011%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.46	−0.396%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.43	−0.420%	$104K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.50	−0.369%	$455K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.73	−0.207%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.96	−0.046%	$132K	$451K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.93	−0.067%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.00	−0.018%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.34	+0.217%	$686K	$5.2M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.0101%	1h	143.20	+0.121%	$336K	$724K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.96	−0.046%	$904K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.06	+0.020%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.94	−0.061%	$186K	$251K	10x	as long as short
Lighter AAVE	+0.0208%	1h	143.07	+0.028%	$4.5M	$2.4M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.09	+0.045%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	143.07	+0.028%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0252% / S −0.0362%	1h	143.03	long leg	$112K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.04	+0.010%	$786K	$2.8M	50x	as long as short