Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.022%

Price spread now: Nado against Orderly+0.045%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 Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.045% 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	145.65	0.0052	pay 0.0052% / 8h	3m 44s	$18K	$12K	10x
Short	Nado AAVE-PERP	145.72	0.0100	get 0.0012% / 1h	3m 44s	$800K	$446K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.045%Rate

Funding earned: $10.14
Price spread: +0.045% → 0.000%: $4.46
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $1.6
Costs to cover: 0.130%
Break-even: 5.9 days

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 10 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 Nado live order book, 10 min ago	1.37 bp	8.3 bp −$8	14.8 bp −$148	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
SoDEX AAVE-USD	−0.0126%	1h	145.61	−0.027%	$5K	$305K	10x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	145.70	+0.034%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.87	+0.151%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.68	+0.021%	$254K	$391K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.67	+0.011%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.66	+0.007%	$77K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.75	+0.069%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.73	+0.057%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.80	+0.103%	$29.7M	$26.1M	200x	as long as short
Binance AAVEUSDT	+0.0029%	8h	145.75	+0.070%	$66.2M	$187.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.966%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.62	−0.017%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0052%	8h	145.65	long leg	$18K	$12K	10x
OKX AAVE-USDT-SWAP	+0.0066%	8h	145.81	+0.110%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.80	+0.103%	$7.9M	$16.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.66	+0.007%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.85	+0.139%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.66	+0.006%	$14K	$4K	20x	as long as short
Nado AAVE-PERPshort	+0.0100%	1h	145.72	+0.045%	$800K	$446K	10x
Hyperliquid AAVE	+0.0100%	1h	145.77	+0.082%	$80.1M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.68	+0.018%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.75	+0.069%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.82	+0.117%	$62.2M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.85	+0.137%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.043%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.65	0.000%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.76	+0.076%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.81	+0.110%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.76	+0.076%	$348K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.20	−0.312%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.56	−0.059%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.55	−0.071%	$457K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.47	−0.124%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.73	+0.055%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.64	−0.004%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.77	+0.082%	$689K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.63	−0.014%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.79	+0.098%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.89	+0.164%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0110%	8h	145.45	−0.137%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.72	+0.047%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.81	+0.110%	$794K	$3.0M	50x	as long as short