Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0057%/8h= −6.3% APRpaid last 24h −0.008%

Price spread now: dYdX against Orderly+0.065%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 dYdX

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

The price spread pays, funding is against you. dYdX is 0.065% dearer against Orderly than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	142.65	0.0057	pay 0.0057% / 8h	3h 11m	$18K	$10K	10x
Short	dYdX AAVE-USD	142.74	0	get 0.0000% / 1h	11m 12s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$12.05
Price spread: +0.065% → 0.000%: $6.48
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$21.58
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: live order book, 43 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 dYdX live order book, 43 min ago	62.65 bp	191.9 bp −$192	193.5 bp −$1,935	197.2 bp −$19.7K	198.2 bp −$99.1K

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
dYdX AAVE-USDshort	0.0000%	1h	142.74	+0.065%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	142.77	+0.084%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.69	+0.028%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.74	+0.062%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0033%	1h	142.75	+0.070%	$831K	$398K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.989%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.19	+0.379%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.69	+0.026%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0057%	8h	142.65	long leg	$18K	$10K	10x
Phemex AAVEUSDT	+0.0065%	8h	142.71	+0.042%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0096%	1h	142.84	+0.133%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.79	+0.100%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.77	+0.084%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.83	+0.128%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.68	+0.021%	$63.7M	$188.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.68	+0.021%	$61.4M	$67.8M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.65	0.000%	$17.0M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.88	+0.161%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.97	+0.224%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.68	+0.021%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.71	+0.042%	$25.8M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.71	+0.042%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.65	0.000%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.68	+0.021%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.77	+0.084%	$335K	$722K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.94	+0.203%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.93	+0.194%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.96	+0.217%	$457K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.98	+0.231%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.80	+0.105%	$132K	$450K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.71	+0.041%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.69	+0.028%	$5K	$310K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.90	+0.174%	$684K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.62	−0.022%	$908K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.71	+0.040%	$121K	$146	10x	as long as short
Hyperliquid AAVE	+0.0109%	1h	142.80	+0.105%	$78.1M	$37.1M	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	142.83	+0.127%	$185K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.67	+0.014%	$3.3M	$3.6M	100x	as long as short
Lighter AAVE	+0.0248%	1h	142.95	+0.210%	$4.5M	$2.4M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.78	+0.091%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.75	+0.067%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	142.91	+0.182%	$781K	$2.8M	50x	as long as short