Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.023%

Price spread now: Polymarket Perps against Orderly+0.090%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 Polymarket Perps

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 +$2 a day on $10k at the current rate, and Polymarket Perps is 0.090% dearer against Orderly than usual: you sell high and buy low: +$9 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	144.09	0.0048	pay 0.0048% / 8h	1h 53m	$18K	$12K	10x
Short	Polymarket Perps AAVE-USD	144.22	0.0100	get 0.0013% / 1h	53m 52s	$126K	$468K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.090%Rate

Funding earned: $10.93
Price spread: +0.090% → 0.000%: $9.02
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $5.95
Costs to cover: 0.140%
Break-even: 3.2 days

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 29 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 Polymarket Perps live order book, 29 min ago	2.77 bp	6.8 bp −$7	8.1 bp −$81	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
ApeX Omni AAVEUSDT	−0.0330%	1h	143.45	−0.444%	$133K	$229K	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0305%	1h	144.15	+0.042%	$253K	$480K	50x	as long as short
01 Exchange AAVEUSD	−0.0200%	1h	144.15	+0.042%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0096%	1h	144.08	−0.007%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0044%	1h	143.73	−0.250%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.25	+0.110%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.20	+0.076%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.18	+0.065%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.948%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0038%	8h	144.04	−0.035%	$31.1M	$25.7M	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	+0.0039%	8h	144.03	−0.042%	$65.4M	$185.5M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.11	+0.014%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.25	+0.109%	$179K	$246K	10x	as long as short
Orderly PERP_AAVE_USDClong	+0.0048%	8h	144.09	long leg	$18K	$12K	10x
Bulk AAVE-USD	+0.0049%	1h	143.56	−0.368%	$60K	$3K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.05	−0.028%	$17.4M	$66.2M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.21	+0.081%	$3.4M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	144.05	−0.028%	$7.8M	$15.8M	75x	as long as short
GRVT AAVE_USDT_Perp	+0.0085%	8h	143.56	−0.370%	$450K	$3.9M	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.14	+0.035%	$122K	$146	10x	as long as short
Nado AAVE-PERP	+0.0088%	1h	144.13	+0.024%	$798K	$438K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.27	+0.124%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.22	+0.089%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.16	+0.049%	$79.1M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.07	−0.016%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.24	+0.101%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.08	−0.007%	$61.2M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.22	+0.090%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.06	−0.021%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.01	−0.056%	$30.0M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.04	−0.035%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.16	+0.049%	$380K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.96	−0.088%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.62	−0.329%	$101K	$313K	20x	as long as short
Polymarket Perps AAVE-USDshort	+0.0100%	1h	144.22	+0.090%	$126K	$468K	10x
SunX AAVE-USDT	+0.0100%	8h	144.11	+0.011%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.22	+0.091%	$717K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.14	+0.035%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.03	−0.041%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0156%	8h	144.28	+0.132%	$3.4M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.18	+0.060%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	143.80	−0.201%	$772K	$3.0M	50x	as long as short