Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.041%

Price spread now: Orderly against Kraken Futures−0.110%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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 0.110% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.110% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 7.4 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	Kraken Futures PF_AAVEUSD	145.90	0.0002	pay 0.0000% / 1h	2m 11s	$3.5M	$2.1M	50x
Short	Orderly PERP_AAVE_USDC	145.74	0.0052	get 0.0052% / 8h	2m 11s	$18K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. 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 Kraken FuturesbpFee OrderlybpOrdersPrice spread, now −0.110%Rate

Funding earned: $10.37
Price spread: −0.110% → 0.000%: −$10.99
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.62
Costs to cover: 0.160%
Break-even: 18.2 days

Slippage unknown: Kraken Futures: live order book, 2 min ago; 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 Kraken Futures live order book, 2 min ago	5.14 bp	13.7 bp −$14	19.6 bp −$196	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
SoDEX AAVE-USD	−0.0127%	1h	145.77	−0.089%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.79	−0.076%	$255K	$391K	50x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	145.72	−0.124%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.43	−0.322%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.84	−0.041%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.78	−0.082%	$78K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0002%	1h	145.90	long leg	$3.5M	$2.1M	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.83	−0.048%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0028%	8h	145.85	−0.034%	$66.2M	$187.9M	75x	as long as short
MEXC AAVE_USDT	+0.0028%	8h	145.88	−0.014%	$29.7M	$26.1M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.128%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.71	−0.131%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0052%	8h	145.74	−0.110%	$18K	$12K	10x
OKX AAVE-USDT-SWAP	+0.0066%	8h	145.90	0.000%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.75	−0.103%	$7.9M	$16.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.79	−0.077%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.03	+0.090%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.68	−0.149%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.66	−0.165%	$800K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.83	−0.048%	$80.1M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.76	−0.094%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.73	−0.117%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.89	−0.007%	$62.3M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.72	−0.124%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.214%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.74	−0.110%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.85	−0.034%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.76	−0.096%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.92	+0.013%	$348K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.20	−0.483%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.56	−0.230%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.40	−0.342%	$454K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.31	−0.405%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.80	−0.069%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.76	−0.093%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.04	+0.095%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.77	−0.089%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.73	−0.115%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.78	−0.080%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0114%	8h	145.86	−0.028%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.81	−0.060%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.81	−0.062%	$794K	$3.0M	50x	as long as short