Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0332%/8h= +36.3% APRnext payment +$0.41 per $10,000 · paid last 24h —

Price spread now: Coinbase International against Reya−0.183%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 Coinbase International

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

Funding pays, the price is against you. Coinbase International is 0.183% cheaper against Reya than usual: you would sell low and buy high (spread −0.183% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 44 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	142.83	0.0044	pay 0.0006% / 1h	21m 11s	—	—	20x
Short	Coinbase International AAVE-PERP-INTX	142.57	0.0376	get 0.0047% / 1h	21m 11s	$760K	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Reya. 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 ReyabpFee Coinbase InternationalbpOrdersPrice spread, now −0.183%Rate

Funding earned: $69.69
Price spread: −0.183% → 0.000%: −$18.33
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $35.36
Costs to cover: 0.160%
Break-even: 3.4 days

Slippage unknown: Reya: no order-book sample; Coinbase International: live order book, 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 Reya no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 3 min ago	3.16 bp	8.2 bp −$8	14.2 bp −$142	doesn't fit	doesn't fit

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
Deribit AAVE_USDC-PERPETUAL	−0.0451%	1h	142.59	−0.169%	$217K	$394K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.79	−0.028%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.50	−0.232%	$49K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.76	−0.050%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0022%	1h	142.86	+0.023%	$837K	$403K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.111%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	142.83	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0070%	8h	142.69	−0.099%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.81	−0.017%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.98	+0.104%	$78.1M	$37.2M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AAVEUSDT	+0.0100%	8h	142.74	−0.064%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.85	+0.014%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.71	−0.084%	$64.0M	$191.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.72	−0.078%	$61.2M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.83	−0.001%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.00	+0.118%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.28	−0.386%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.89	+0.041%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.84	+0.006%	$25.1M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.75	−0.057%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.83	−0.001%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.85	+0.013%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.03	−0.560%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.15	−0.477%	$105K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.13	−0.489%	$449K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.18	−0.456%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.96	+0.090%	$141K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.89	+0.039%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.68	−0.106%	$5K	$313K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.83	−0.001%	$678K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.77	−0.043%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.63	−0.145%	$905K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	142.96	+0.090%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.71	−0.088%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.32	−0.358%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0143%	1h	142.83	−0.001%	$339K	$730K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.96	+0.091%	$191K	$254K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.66	−0.120%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	142.77	−0.044%	$3.4M	$2.1M	50x	as long as short
Lighter AAVE	+0.0240%	1h	142.89	+0.039%	$4.5M	$2.4M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.75	−0.060%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0376%	1h	142.57	−0.183%	$760K	$2.9M	50x