Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0031%/8h= +3.3% APRpaid last 24h +0.016%

Price spread now: ApeX Omni against Orderly−0.309%50s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. ApeX Omni is 0.309% cheaper against Orderly than usual: you would sell low and buy high (spread −0.309% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 34 days of funding at the current rate (+$1 a day). The two prices were read 50 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	Orderly PERP_AAVE_USDC	142.62	0.0069	pay 0.0069% / 8h	2h 21m	$18K	$10K	10x
Short	ApeX Omni AAVEUSDT	142.18	0.0100	get 0.0013% / 1h	21m 31s	$132K	$222K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now −0.309%Rate

Funding earned: $6.42
Price spread: −0.309% → 0.000%: −$30.85
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$40.43
Costs to cover: 0.160%
Break-even: 51.1 days

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 25 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 25 min ago	4.90 bp	12.7 bp −$13	102.1 bp −$1,021	doesn't fit	doesn't fit

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
Deribit AAVE_USDC-PERPETUAL	−0.3324%	1h	142.18	−0.309%	$216K	$394K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.79	+0.121%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.46	−0.112%	$49K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.57	−0.032%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0022%	1h	142.86	+0.172%	$837K	$403K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.969%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.83	+0.148%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0069%	8h	142.62	long leg	$18K	$10K	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	142.81	+0.131%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.99	+0.259%	$78.1M	$37.2M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AAVEUSDT	+0.0100%	8h	142.93	+0.216%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.85	+0.162%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.92	+0.210%	$64.1M	$191.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.91	+0.203%	$61.3M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.87	+0.175%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.00	+0.266%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.28	−0.238%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.91	+0.203%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.93	+0.217%	$25.1M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.91	+0.203%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.87	+0.175%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.90	+0.196%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.03	−0.413%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.15	−0.329%	$105K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.13	−0.342%	$449K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDTshort	+0.0100%	1h	142.18	−0.309%	$132K	$222K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.96	+0.238%	$141K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.59	−0.022%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.66	+0.028%	$5K	$314K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.95	+0.229%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.69	+0.049%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.85	+0.160%	$905K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	142.96	+0.238%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.67	+0.035%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.32	−0.210%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0140%	1h	142.84	+0.154%	$339K	$730K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.96	+0.240%	$191K	$254K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.17	−0.316%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	142.75	+0.092%	$3.4M	$2.1M	50x	as long as short
Lighter AAVE	+0.0248%	1h	142.97	+0.243%	$4.5M	$2.4M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.58	−0.026%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.57	−0.035%	$760K	$2.9M	50x	as long as short