Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.018%

Price spread now: Variational Omni against Kraken Futures−0.679%7-day average −0.052% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 3 days (all we have)+0.256%+$26 · spread now −0.679%, 7d avg −0.052%

Together, before fees+0.332%+ Points / potential airdropVariational Omni: Active · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.626% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.679% now, against its 7-day average of −0.052%). If the spread goes back, that is −$63 on $10k: about 21 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	146.54	0.0002	pay 0.0000% / 1h	55m 54s	$3.5M	$2.1M	50x
Short	Variational Omni AAVE	145.55	0.0100	get 0.0100% / 8h	55m 54s	$3.8M	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.679%Rate

Funding earned: $20.53
Price spread: −0.679% → −0.052%: −$62.62
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$52.1
Costs to cover: 0.100%
Break-even: 24.8 days

Slippage unknown: Kraken Futures: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 3 min ago	11.63 bp	20.4 bp −$20	25.0 bp −$250	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.09 bp	doesn't fit	11.0 bp −$110	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
Phoenix AAVE	−0.0045%	1h	146.30	−0.164%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.29	−0.174%	$104K	$5K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	146.42	−0.082%	$11K	$2K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.28	−0.177%	$85K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.45	−0.061%	$256K	$412K	50x	as long as short
SoDEX AAVE-USD	+0.0001%	1h	146.45	−0.061%	$5K	$298K	10x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0002%	1h	146.54	long leg	$3.5M	$2.1M	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.45	−0.058%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.537%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.34	−0.136%	$30.6M	$25.5M	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	+0.0042%	8h	146.31	−0.156%	$66.7M	$185.1M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.39	−0.102%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.39	−0.102%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0066%	8h	146.31	−0.157%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.38	−0.109%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.43	−0.071%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.65	+0.073%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.40	−0.097%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.33	−0.141%	$810K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.47	−0.050%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.37	−0.119%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.30	−0.164%	$62.4M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.38	−0.109%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.512%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.42	−0.082%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.37	−0.116%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.34	−0.136%	—	$44.0M	—	as long as short
Variational Omni AAVEshort	+0.0100%	8h	145.55	−0.679%	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	145.73	−0.550%	$105K	$315K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.61	−0.635%	$460K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.79	−0.512%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	−0.061%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.34	−0.135%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.40	−0.098%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.36	−0.123%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	−0.150%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.41	−0.086%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0163%	8h	146.17	−0.252%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0253%	1h	146.51	−0.020%	$80.9M	$34.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.45	−0.064%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	−0.075%	$795K	$3.1M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0298%	1h	146.54	0.000%	$354K	$733K	10x	as long as short