Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.019%

Price spread now: Nado against GRVT−0.195%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.248%+$25 · spread now −0.195%, 7d avg −0.019%

Together, before fees+0.262%+ Points / potential airdropGRVT: Active · Nado: Active · farm board+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.175% cheaper against GRVT than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT AAVE_USDT_Perp	146.48	0.0100	pay 0.0100% / 8h	7h 17m	$464K	$3.7M	10x
Short	Nado AAVE-PERP	146.19	0.0100	get 0.0012% / 1h	17m 21s	$799K	$423K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against GRVT. 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 GRVTbpFee NadobpOrdersPrice spread, now −0.195%Rate

Funding earned: $0
Price spread: −0.195% → −0.019%: −$17.54
Slippage, 4 orders: −$16.5
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$50.04
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Nado: live order book, 56 min ago.

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 GRVT live order book, 2 min ago	0.34 bp	6.7 bp −$7	28.1 bp −$281	33117.9 bp −$3.31M	doesn't fit
Sell Nado live order book, 56 min ago	1.37 bp	8.3 bp −$8	14.8 bp −$148	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.18	−0.208%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.11	−0.253%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0097%	1h	146.04	−0.300%	$5K	$305K	10x	as long as short
Phemex AAVEUSDT	−0.0048%	8h	146.10	−0.259%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.08	−0.273%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.19	−0.199%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.17	−0.212%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.33	−0.102%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.12	−0.246%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0021%	8h	146.14	−0.232%	$28.9M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0022%	8h	146.11	−0.253%	$66.2M	$183.5M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.499%	$422	$51K	12x	as long as short
Gate AAVE_USDT	+0.0036%	8h	146.08	−0.273%	$7.9M	$15.3M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.04	−0.299%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.04	−0.300%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.03	−0.307%	$17.9M	$66.3M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.055%	$136K	$231K	50x	as long as short
Bybit AAVEUSDT	+0.0086%	8h	146.12	−0.246%	$62.6M	$65.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.12	−0.247%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0088%	8h	146.04	−0.300%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.27	−0.145%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.12	−0.244%	$14K	$4K	20x	as long as short
Nado AAVE-PERPshort	+0.0100%	1h	146.19	−0.195%	$799K	$423K	10x
Hyperliquid AAVE	+0.0100%	1h	146.28	−0.138%	$79.7M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.15	−0.226%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.18	−0.204%	$334K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.19	−0.198%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.473%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.20	−0.191%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.07	−0.280%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.09	−0.266%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.28	−0.137%	$334K	$735K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	−0.027%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.46	−0.011%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perplong	+0.0100%	8h	146.48	long leg	$464K	$3.7M	10x
Polymarket Perps AAVE-USD	+0.0100%	1h	146.22	−0.177%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.13	−0.236%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.43	−0.032%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.00	−0.325%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.21	−0.182%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.10	−0.258%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.41	−0.048%	$785K	$2.9M	50x	as long as short