Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h —

Price spread now: Reya against KuCoin−0.074%109s7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 −$2 a day on $10k at the current rate, and Reya is 0.074% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 109 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	KuCoin AAVEUSDTM	141.82	0.0100	pay 0.0100% / 8h	6h 18m	$10.3M	$9.3M	75x
Short	Reya AAVERUSDPERP	141.72	0.0044	get 0.0006% / 1h	18m 43s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now −0.074%Rate

Funding earned: −$11.73
Price spread: −0.074% → 0.000%: −$7.39
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$37.12
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	1.06 bp	18.0 bp −$18	39.3 bp −$393	doesn't fit	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 exchanges

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	−0.0109%	1h	141.67	−0.106%	$6K	$241K	10x	as long as short
ApeX Omni AAVEUSDT	−0.0040%	1h	141.90	+0.056%	$132K	$221K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.80	−0.017%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.94	+0.085%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.76	−0.042%	$42K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.73	−0.063%	$210K	$354K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.74	−0.056%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.427%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	141.72	−0.074%	—	—	20x
Bybit AAVEUSDT	+0.0048%	8h	141.73	−0.063%	$61.1M	$62.2M	75x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AAVEUSDT	+0.0061%	8h	141.72	−0.071%	$3.9M	$3.6M	50x	as long as short
Phoenix AAVE	+0.0062%	1h	141.94	+0.085%	$4K	$97K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0089%	8h	141.67	−0.106%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.93	+0.078%	$4.6M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.68	−0.100%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.73	−0.060%	$813K	$317K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.91	+0.063%	$77.9M	$31.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.82	−0.003%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.75	−0.049%	$345K	$319K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.71	−0.078%	$63.8M	$170.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.78	−0.028%	$16.5M	$55.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.01	+0.134%	$95K	$206K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.80	−0.014%	$164K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.85	+0.021%	$8.1M	$14.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.77	−0.035%	$22.1M	$24.1M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	141.82	long leg	$10.3M	$9.3M	75x
Bitget AAVEUSDT	+0.0100%	8h	141.78	−0.028%	$29.3M	$16.6M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.79	−0.021%	—	$43.2M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.78	−0.031%	$3.7M	$724K	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.84	+0.014%	$109K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.58	−0.169%	$452K	$3.3M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.85	+0.021%	$134K	$398K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.66	−0.109%	$2K	$1.2M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.85	+0.025%	$663K	$1.5M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.0103%	1h	141.82	0.000%	$387K	$633K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.78	−0.026%	$916K	$1.6M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.73	−0.064%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0164%	1h	141.94	+0.086%	$172K	$206K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0176%	1h	141.82	−0.003%	$3.4M	$1.9M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.72	−0.071%	$3.3M	$3.4M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0232%	1h	142.00	+0.127%	$753K	$2.3M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.76	−0.041%	$110K	—	100x	as long as short