Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0224%/8h= +24.5% APRpaid last 24h −0.037%

Price spread now: Kraken Futures against Orderly+0.041%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 Kraken Futures

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 +$7 a day on $10k at the current rate, and Kraken Futures is 0.041% dearer against Orderly than usual: you sell high and buy low: +$4 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	143.57	0.0044	pay 0.0044% / 8h	5h 39m	$18K	$10K	10x
Short	Kraken Futures PF_AAVEUSD	143.63	0.0268	get 0.0033% / 1h	39m 34s	$3.5M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.041%Rate

Funding earned: $46.97
Price spread: +0.041% → 0.000%: $4.14
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $35.11
Costs to cover: 0.160%
Break-even: 1.8 days

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 4 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 Kraken Futures live order book, 4 min ago	3.48 bp	9.1 bp −$9	16.9 bp −$169	191.8 bp −$19.2K	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
01 Exchange AAVEUSD	−0.0064%	1h	143.24	−0.230%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.34	−0.159%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.62	+0.035%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.57	0.000%	$238K	$377K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.59	+0.013%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.604%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDClong	+0.0044%	8h	143.57	long leg	$18K	$10K	10x
Reya AAVERUSDPERP	+0.0044%	1h	143.53	−0.031%	—	—	20x	as long as short
Phoenix AAVE	+0.0089%	1h	143.48	−0.063%	$5K	$98K	10x	as long as short
Nado AAVE-PERP	+0.0094%	1h	143.64	+0.049%	$833K	$431K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.46	−0.078%	$4.6M	$1.5M	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0097%	8h	143.22	−0.244%	$17.2M	$63.2M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.27	−0.208%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.50	−0.051%	$77.6M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.42	−0.107%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.33	−0.165%	$327K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.25	−0.221%	$64.2M	$183.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.27	−0.209%	$61.2M	$64.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.27	−0.209%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.56	−0.009%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.31	−0.181%	$7.9M	$15.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.28	−0.202%	$25.9M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.43	−0.098%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.23	−0.237%	$30.0M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.27	−0.209%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.66	+0.063%	$320K	$718K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.49	−0.058%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	−0.038%	$103K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.78	+0.146%	$456K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.78	+0.146%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.60	+0.021%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.61	+0.028%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.57	0.000%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.67	+0.070%	$694K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.54	−0.021%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.20	−0.257%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.60	+0.023%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.30	−0.191%	$191K	$233K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.38	−0.132%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.56	−0.004%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0268%	1h	143.63	+0.041%	$3.5M	$2.0M	50x
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.58	+0.007%	$777K	$2.8M	50x	as long as short