Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0251%/8h= +27.5% APRpaid last 24h +0.064%

Price spread now: Coinbase International against Orderly+0.233%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.233% dearer against Orderly than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	146.07	0.0045	pay 0.0045% / 8h	7h 18m	$18K	$10K	10x
Short	Coinbase International AAVE-PERP-INTX	146.41	0.0296	get 0.0037% / 1h	18m 16s	$785K	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.233%Rate

Funding earned: $52.78
Price spread: +0.233% → 0.000%: $23.28
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $60.05
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 1 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 Coinbase International live order book, 1 min ago	4.45 bp	14.7 bp −$15	19.5 bp −$195	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.27	+0.134%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	145.81	−0.178%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0096%	1h	146.09	+0.014%	$5K	$305K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.77	−0.205%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.12	+0.034%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.58	+0.349%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.13	+0.041%	$255K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.05	−0.012%	$71K	—	150x	as long as short
Gate AAVE_USDT	+0.0013%	8h	145.98	−0.062%	$7.9M	$15.3M	75x	as long as short
MEXC AAVE_USDT	+0.0021%	8h	145.85	−0.151%	$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	+0.0021%	8h	146.06	−0.007%	$66.1M	$183.5M	75x	as long as short
Phemex AAVEUSDT	+0.0033%	8h	145.92	−0.103%	$4.2M	$3.8M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.237%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.84	−0.156%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0045%	8h	146.07	long leg	$18K	$10K	10x
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.09	+0.014%	$17.9M	$66.3M	50x	as long as short
Bybit AAVEUSDT	+0.0068%	8h	146.08	+0.007%	$62.6M	$65.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.335%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0085%	8h	146.04	−0.021%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.15	+0.054%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.99	−0.055%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.71	−0.245%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.77	−0.205%	$797K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.00	−0.048%	$79.6M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.83	−0.167%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.82	−0.174%	$333K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.78	−0.199%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.194%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.91	−0.110%	$10.3M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.04	−0.021%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.98	−0.062%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.93	−0.096%	$333K	$735K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	+0.254%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.46	+0.270%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.48	+0.281%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.91	−0.110%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.195%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.264%	$711K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.06	−0.010%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.82	−0.173%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0364%	1h	146.04	−0.024%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0296%	1h	146.41	+0.233%	$785K	$2.9M	50x