Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0213%/8h= −23.3% APRnext payment −$0.27 per $10,000 · paid last 24h —

Price spread now: Deribit against Reya−0.064%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 Deribit

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.064% cheaper against Reya than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	143.24	0.0044	pay 0.0006% / 1h	58m 56s	—	—	20x
Short	Deribit AAVE_USDC-PERPETUAL	143.15	−0.0169	pay 0.0021% / 1h	58m 56s	$220K	$401K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$44.76
Price spread: −0.064% → 0.000%: −$6.4
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$64.16
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Deribit: live order book, 55 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 Deribit live order book, 55 min ago	5.26 bp	9.1 bp −$9	doesn't fit	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
SoDEX AAVE-USD	−0.0195%	1h	143.15	−0.064%	$5K	$302K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	−0.0169%	1h	143.15	−0.064%	$220K	$401K	50x
dYdX AAVE-USD	0.0000%	1h	143.37	+0.087%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.28	+0.027%	$56K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.23	−0.007%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.385%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	143.24	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.20	−0.029%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.24	−0.001%	$4K	$102K	10x	as long as short
Phemex AAVEUSDT	+0.0069%	8h	143.19	−0.036%	$4.0M	$3.7M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.27	+0.020%	$4.6M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.46	+0.153%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.32	+0.058%	$843K	$442K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.27	+0.017%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.42	+0.124%	$328K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.46	+0.152%	$64.0M	$187.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.43	+0.131%	$61.6M	$67.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.57	+0.229%	$17.1M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.51	+0.187%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.497%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.24	−0.001%	$8.1M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.61	+0.257%	$25.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.63	+0.271%	$10.6M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.53	+0.201%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.62	+0.264%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.32	+0.055%	$336K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.26	+0.013%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.20	−0.027%	$103K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.03	−0.150%	$460K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.03	−0.148%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.39	+0.104%	$137K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.22	−0.017%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.59	+0.241%	$691K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.52	+0.191%	$906K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	143.45	+0.145%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.21	−0.019%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.47	+0.159%	$183K	$249K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.17	−0.050%	$3.3M	$3.6M	100x	as long as short
Hyperliquid AAVE	+0.0239%	1h	143.42	+0.124%	$78.5M	$36.5M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0247%	1h	143.22	−0.015%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.24	+0.001%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.50	+0.180%	$796K	$2.8M	50x	as long as short