Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.030%

Price spread now: Nado against OKX−0.183%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 3 days (all we have)+0.320%+$32 · spread now −0.183%, 7d avg −0.001%

Together, before fees+0.378%+ Points / potential airdropNado: Active · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.183% cheaper against OKX than usual: you would sell low and buy high (spread −0.183% now, against its 7-day average of −0.001%). If the spread goes back, that is −$18 on $10k: about 17 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	OKX AAVE-USDT-SWAP	144.62	0.0064	pay 0.0064% / 8h	6h 49m	$17.5M	$66.3M	50x
Short	Nado AAVE-PERP	144.35	0.0100	get 0.0012% / 1h	49m 44s	$799K	$427K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now −0.183%Rate

Funding earned: $7.62
Price spread: −0.183% → −0.001%: −$18.27
Slippage, 4 orders: −$14.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$42.45
Costs to cover: 0.318%
Break-even: 46.0 days

Slippage from OKX: live order book, 4 min ago; Nado: live order book, 19 min ago.

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 OKX live order book, 4 min ago	0.35 bp	7.6 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Nado live order book, 19 min ago	1.37 bp	8.3 bp −$8	14.5 bp −$145	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
01 Exchange AAVEUSD	−0.0056%	1h	144.46	−0.111%	$11K	$2K	5x	as long as short
ApeX Omni AAVEUSDT	−0.0050%	1h	143.99	−0.436%	$134K	$230K	50x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.56	−0.045%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.34	−0.194%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.14	−0.332%	$65K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.44	−0.124%	$251K	$362K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.40	−0.149%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.22	−0.277%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.297%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	144.56	−0.041%	$27.6M	$24.7M	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	+0.0037%	8h	144.58	−0.026%	$65.2M	$185.5M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0043%	8h	144.44	−0.124%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.37	−0.171%	—	—	20x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0064%	8h	144.62	long leg	$17.5M	$66.3M	50x
Aevo AAVE-PERP	+0.0088%	1h	144.46	−0.111%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.49	−0.090%	$183K	$245K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.73	+0.074%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.46	−0.110%	$14K	$4K	20x	as long as short
Nado AAVE-PERPshort	+0.0100%	1h	144.35	−0.183%	$799K	$427K	10x
Hyperliquid AAVE	+0.0100%	1h	144.72	+0.069%	$78.6M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.57	−0.035%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.43	−0.134%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.60	−0.014%	$61.9M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.47	−0.104%	$45K	$236K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.56	−0.041%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.56	−0.041%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.56	−0.041%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.57	−0.035%	$29.9M	$18.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.58	−0.028%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.61	−0.007%	$325K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.23	−0.268%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.86	−0.524%	$104K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.95	−0.465%	$455K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.47	−0.104%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.38	−0.168%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.45	−0.118%	$5K	$302K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.72	+0.070%	$702K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.47	−0.104%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.54	−0.054%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0144%	8h	144.16	−0.318%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.40	−0.153%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.47	−0.104%	$775K	$2.8M	50x	as long as short