Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h —

Price spread now: Reya against Nado−0.094%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 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 airdropNado: Active · Reya: 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 0.094% cheaper against Nado than usual: you would sell low and buy high (−$9 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	141.41	0.0100	pay 0.0012% / 1h	56m 27s	$827K	$400K	10x
Short	Reya AAVERUSDPERP	141.28	0.0044	get 0.0006% / 1h	56m 27s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.094%Rate

Funding earned: −$11.73
Price spread: −0.094% → 0.000%: −$9.35
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$34.08
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 42 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 Nado live order book, 42 min ago	1.06 bp	7.8 bp −$8	16.4 bp −$164	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 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
Phemex AAVEUSDT	−0.0198%	8h	141.60	+0.131%	$3.9M	$3.6M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.60	+0.133%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.53	+0.081%	$46K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.66	+0.173%	$214K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.33	−0.060%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.150%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	141.28	−0.094%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0085%	8h	141.28	−0.095%	$17K	$8K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	141.43	+0.010%	$452K	$3.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.42	0.000%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERPlong	+0.0100%	1h	141.41	long leg	$827K	$400K	10x
Hyperliquid AAVE	+0.0100%	1h	141.48	+0.046%	$77.2M	$37.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.37	−0.032%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.55	+0.099%	$330K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.28	−0.095%	$63.5M	$192.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.25	−0.117%	$60.8M	$69.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.29	−0.088%	$16.6M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.58	+0.117%	$91K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.56	+0.106%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.31	−0.074%	$8.1M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.31	−0.074%	$22.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.42	+0.004%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.41	−0.004%	$28.7M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.28	−0.095%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.53	+0.078%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.44	+0.015%	$109K	$282K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.41	−0.004%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.42	+0.004%	$134K	$484K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.49	+0.056%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.64	+0.159%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.65	+0.169%	$667K	$5.3M	75x	as long as short
Lighter AAVE	+0.0104%	1h	141.68	+0.189%	$4.5M	$2.5M	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.38	−0.024%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.32	−0.064%	$119K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	141.44	+0.018%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0152%	1h	141.70	+0.202%	$4K	$97K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.70	+0.202%	$754K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.61	+0.138%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.48	+0.046%	$183K	$294K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0229%	1h	141.81	+0.279%	$386K	$732K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	141.74	+0.226%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.31	−0.074%	$110K	—	100x	as long as short