Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0055%/8h= −6.1% APRpaid last 24h −0.020%

Price spread now: Orderly against Nado−0.038%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.038% cheaper against Nado than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AAVE-PERP	146.49	0.0100	pay 0.0012% / 1h	15m 06s	$801K	$423K	10x
Short	Orderly PERP_AAVE_USDC	146.43	0.0045	get 0.0045% / 8h	7h 15m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. 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 NadobpFee OrderlybpOrdersPrice spread, now −0.038%Rate

Funding earned: −$11.63
Price spread: −0.038% → 0.000%: −$3.75
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$28.38
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 58 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 Nado live order book, 58 min ago	1.37 bp	7.3 bp −$7	15.8 bp −$158	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.59	+0.075%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.37	−0.079%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0082%	1h	146.44	−0.031%	$5K	$295K	10x	as long as short
Phemex AAVEUSDT	−0.0070%	8h	146.42	−0.044%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.47	−0.010%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.55	+0.044%	$105K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.43	−0.038%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.33	−0.106%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.51	+0.016%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0022%	8h	146.42	−0.044%	$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	+0.0023%	8h	146.44	−0.031%	$66.3M	$183.4M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0024%	1h	146.19	−0.201%	$136K	$231K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.502%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.41	−0.053%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0045%	8h	146.43	−0.038%	$18K	$10K	10x
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.40	−0.058%	$17.9M	$66.4M	50x	as long as short
Gate AAVE_USDT	+0.0077%	8h	146.48	−0.003%	$7.9M	$15.3M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.46	−0.018%	$124K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0093%	8h	146.39	−0.065%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.66	+0.121%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.50	+0.010%	$14K	$4K	20x	as long as short
Nado AAVE-PERPlong	+0.0100%	1h	146.49	long leg	$801K	$423K	10x
Hyperliquid AAVE	+0.0100%	1h	146.55	+0.044%	$79.9M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.49	+0.003%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.53	+0.031%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.42	−0.044%	$62.7M	$65.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.45	−0.024%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.477%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.52	+0.024%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.40	−0.058%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.44	−0.031%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.55	+0.044%	$332K	$736K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.145%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.09	−0.272%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.19	−0.202%	$462K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.52	+0.024%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.41	−0.048%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.77	+0.197%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.40	−0.060%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.48	−0.005%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.49	+0.003%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	−0.044%	$785K	$2.9M	50x	as long as short