Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h +0.022%

Price spread now: Extended against Orderly+0.026%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 Extended

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—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.026% dearer against Orderly than usual: you sell high and buy low: +$3 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	143.87	0.0044	pay 0.0044% / 8h	6h 07m	$18K	$10K	10x
Short	Extended AAVE-USD	143.91	0.0104	get 0.0013% / 1h	7m 03s	$917K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.026%Rate

Funding earned: $12.54
Price spread: +0.026% → 0.000%: $2.56
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $4.1
Costs to cover: 0.110%
Break-even: 4.7 days

Slippage unknown: Orderly: no order-book sample; Extended: 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 Extended live order book, 1 min ago	3.13 bp	6.4 bp −$6	28.0 bp −$280	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 41 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	−0.0034%	1h	144.05	+0.122%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	143.86	−0.007%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.96	+0.059%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.83	−0.028%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.93	+0.042%	$244K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.87	−0.003%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.77	−0.070%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.803%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.81	−0.044%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0044%	8h	143.87	long leg	$18K	$10K	10x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0079%	8h	143.91	+0.028%	$26.6M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0081%	8h	143.93	+0.045%	$64.9M	$183.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0087%	8h	143.90	+0.021%	$17.3M	$64.4M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	143.92	+0.033%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.12	+0.176%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.83	−0.029%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.88	+0.010%	$800K	$419K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.04	+0.118%	$77.9M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.89	+0.014%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.96	+0.060%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.93	+0.042%	$61.6M	$64.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.90	+0.021%	$44K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.94	+0.049%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.94	+0.049%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.90	+0.021%	$29.9M	$17.6M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.93	+0.042%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.05	+0.125%	$321K	$721K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.96	+0.062%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.60	−0.186%	$103K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.60	−0.188%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.67	−0.139%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.84	−0.021%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.85	−0.010%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.95	+0.056%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.05	+0.124%	$697K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.93	+0.042%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.09	+0.156%	$58K	$2K	10x	as long as short
Extended AAVE-USDshort	+0.0104%	1h	143.91	+0.026%	$917K	$1.7M	50x
Aevo AAVE-PERP	+0.0104%	1h	143.91	+0.026%	$122K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0251% / S −0.0393%	1h	143.87	−0.001%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.10	+0.160%	$774K	$2.8M	50x	as long as short