Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h —

Price spread now: Reya against GRVT−0.162%64s7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: Active · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.162% cheaper against GRVT than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT AAVE_USDT_Perp	143.60	0.0091	pay 0.0091% / 8h	2h 02m	$449K	$3.9M	10x
Short	Reya AAVERUSDPERP	143.37	0.0044	get 0.0006% / 1h	2m 16s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.162%Rate

Funding earned: −$9.84
Price spread: −0.162% → 0.000%: −$16.24
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$41.08
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 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 GRVT live order book, 2 min ago	0.35 bp	5.5 bp −$6	26.1 bp −$261	34612.1 bp −$3.46M	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
Deribit AAVE_USDC-PERPETUAL	−0.0377%	1h	143.53	−0.049%	$252K	$489K	50x	as long as short
SoDEX AAVE-USD	−0.0152%	1h	143.44	−0.112%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0112%	1h	143.27	−0.230%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	143.24	−0.251%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.32	−0.194%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.38	−0.154%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.57	−0.021%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.56	−0.030%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.624%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0044%	8h	143.50	−0.073%	$65.2M	$185.4M	75x	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	143.37	−0.162%	—	—	20x
MEXC AAVE_USDT	+0.0045%	8h	143.46	−0.098%	$30.7M	$26.5M	200x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.47	−0.091%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	143.50	−0.070%	$17.3M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0058%	1h	143.62	+0.013%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0063%	8h	143.47	−0.091%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.261%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perplong	+0.0091%	8h	143.60	long leg	$449K	$3.9M	10x
Lighter AAVE	+0.0096%	1h	143.64	+0.030%	$4.6M	$1.7M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.51	−0.067%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.39	−0.149%	$178K	$247K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.31	−0.199%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.31	−0.206%	$793K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.47	−0.091%	$78.7M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.35	−0.175%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.34	−0.183%	$326K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.50	−0.070%	$60.9M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.34	−0.182%	$50K	$274K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.30	−0.209%	$9.9M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.46	−0.098%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.47	−0.091%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.33	−0.188%	$379K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.155%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.50	−0.073%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.41	−0.133%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.30	−0.207%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.62	+0.014%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.52	−0.056%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.43	−0.119%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0166%	8h	143.17	−0.300%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.68	+0.055%	$771K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.55	−0.036%	$123K	—	100x	as long as short