Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.027%

Price spread now: Variational Omni against Phemex−0.019%7-day average −0.039% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.055%−$6 · spread now −0.019%, 7d avg −0.039%

Together, before fees−0.124%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.020% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	144.17	0.0100	pay 0.0100% / 8h	6h 30m	$4.1M	$3.8M	50x
Short	Variational Omni AAVE	144.14	0.0100	get 0.0100% / 8h	6h 30m	$3.7M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhemexbpFee Variational OmnibpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → −0.039%: $2.02
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.98
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Phemex live order book, 3 min ago	1.74 bp	14.4 bp −$14	23.9 bp −$239	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.09 bp	doesn't fit	12.9 bp −$129	doesn't fit	doesn't fit

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
01 Exchange AAVEUSD	−0.0056%	1h	144.25	+0.055%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.32	+0.102%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.24	+0.047%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.18	+0.007%	$65K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.20	+0.021%	$250K	$362K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.27	+0.071%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.01	−0.111%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.001%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.21	+0.028%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.19	+0.016%	—	—	20x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0052%	8h	144.30	+0.090%	$27.0M	$24.8M	200x	as long as short
Binance AAVEUSDT	+0.0053%	8h	144.29	+0.081%	$65.0M	$184.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0070%	8h	144.29	+0.083%	$17.4M	$65.4M	50x	as long as short
Gate AAVE_USDT	+0.0088%	8h	144.21	+0.028%	$7.7M	$15.1M	75x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.30	+0.087%	$186K	$230K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.41	+0.166%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.22	+0.033%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.20	+0.024%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.14	−0.021%	$802K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.31	+0.097%	$78.2M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.24	+0.050%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.27	+0.069%	$329K	$436K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.29	+0.083%	$61.8M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.42	+0.173%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.50	−0.467%	$58K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.23	+0.042%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.29	+0.083%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.35	+0.125%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.33	+0.111%	$324K	$746K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	144.14	−0.019%	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	143.91	−0.182%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	−0.206%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.98	−0.132%	$134K	$230K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.26	+0.062%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.22	+0.032%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.19	+0.014%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.53	+0.253%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	144.17	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	144.20	+0.020%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0237% / S −0.0360%	1h	144.25	+0.057%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.38	+0.146%	$773K	$2.8M	50x	as long as short