Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h —

Price spread now: BingX against Reya−0.011%7-day average — · you buy dearer than you sell

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

Long on Reya Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	146.34	0.0044	pay 0.0006% / 1h	54m 53s	—	—	20x
Short	BingX AAVE-USDC	146.32	0.0100	get 0.0100% / 8h	54m 53s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Reya. 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 ReyabpFee BingXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $11.73
Price spread: −0.011% → 0.000%: −$1.09
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$5.36
Costs to cover: 0.160%
Break-even: 10.2 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 6 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 Reya no order-book sample	—	—	—	—	—
Sell BingX live order book, 6 min ago	0.69 bp	15.1 bp −$15	35.3 bp −$353	243.9 bp −$24.4K	634.6 bp −$317.3K

Reya: 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
Phoenix AAVE	−0.0045%	1h	146.30	−0.025%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.36	+0.016%	$256K	$412K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.42	+0.057%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.38	+0.030%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.45	+0.079%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.39	+0.037%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	146.43	+0.064%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	+0.0020%	1h	146.34	+0.003%	$5K	$298K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.407%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.32	−0.011%	$30.6M	$25.5M	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	+0.0042%	8h	146.32	−0.012%	$66.7M	$185.1M	75x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	146.34	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.33	−0.004%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	146.29	−0.031%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.35	+0.010%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.35	+0.006%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.56	+0.152%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.39	+0.039%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.28	−0.038%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.40	+0.046%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.35	+0.008%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.32	−0.011%	$62.4M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.39	+0.037%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.373%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.34	+0.003%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.37	+0.023%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDCshort	+0.0100%	8h	146.32	−0.011%	—	$6.5M	—
Variational Omni AAVE	+0.0100%	8h	146.32	−0.014%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	−0.147%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.17	−0.114%	$463K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	−0.079%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	+0.078%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.33	−0.003%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.081%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.29	−0.031%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	−0.013%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.43	+0.062%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0162%	8h	146.37	+0.023%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0242%	1h	146.52	+0.126%	$80.9M	$34.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.40	+0.042%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.064%	$795K	$3.0M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0337%	1h	146.44	+0.071%	$354K	$733K	10x	as long as short