Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.07 per $10,000 · paid last 24h —

Price spread now: Extended against Reya−0.202%48s7-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 Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.202% cheaper against Reya than usual: you would sell low and buy high (spread −0.202% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 11 days of funding at the current rate (+$2 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	145.12	0.0044	pay 0.0006% / 1h	37m 42s	—	—	20x
Short	Extended AAVE-USD	144.83	0.0104	get 0.0013% / 1h	37m 42s	$929K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.202%Rate

Funding earned: $12.57
Price spread: −0.202% → 0.000%: −$20.19
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$18.62
Costs to cover: 0.110%
Break-even: 17.4 days

Slippage unknown: Reya: no order-book sample; Extended: live order book, 1 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 Extended live order book, 1 min ago	1.72 bp	6.0 bp −$6	22.4 bp −$224	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
01 Exchange AAVEUSD	−0.0176%	1h	145.10	−0.013%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0070%	1h	145.03	−0.061%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.79	−0.226%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.01	−0.072%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.12	+0.001%	$67K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.21	+0.063%	$255K	$480K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.22	+0.072%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.622%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0035%	8h	144.92	−0.137%	$65.9M	$185.6M	75x	as long as short
MEXC AAVE_USDT	+0.0035%	8h	144.97	−0.102%	$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
Reya AAVERUSDPERPlong	+0.0044%	1h	145.12	long leg	—	—	20x
RISEx AAVE/USDC	+0.0046%	1h	144.93	−0.130%	$180K	$246K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.86	−0.178%	$17.6M	$66.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	145.15	+0.022%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.10	−0.012%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	144.94	−0.123%	$7.8M	$15.8M	75x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	−0.298%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.07	−0.034%	$123K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.65	−0.323%	$462K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.08	−0.024%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.89	−0.154%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.03	−0.064%	$803K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.06	−0.040%	$79.7M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.09	−0.022%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.94	−0.121%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.89	−0.157%	$61.5M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.88	−0.164%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.94	−0.123%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.98	−0.095%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.94	−0.123%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	+0.056%	$381K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	−0.296%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.63	−0.336%	$103K	$314K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	−0.274%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.20	+0.056%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.17	+0.038%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.22	+0.072%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.01	−0.075%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USDshort	+0.0104%	1h	144.83	−0.202%	$929K	$1.8M	50x
BloFin AAVE-USDT	+0.0139%	8h	144.86	−0.178%	$3.4M	$4.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.22	+0.072%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.26	+0.098%	$783K	$3.0M	50x	as long as short