Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.01 per $10,000 · paid last 24h —

Price spread now: Injective against Reya−5.119%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 Injective

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 $0 a day on $10k at the current rate, and Injective is 5.119% cheaper against Reya than usual: you would sell low and buy high (−$512 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	144.35	0.0044	pay 0.0006% / 1h	33m 18s	—	—	20x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	33m 18s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.119%Rate

Funding earned: −$2.27
Price spread: −5.119% → 0.000%: −$511.9
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$520.19
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Reya and Injective: 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	−0.0373%	1h	144.37	+0.014%	$248K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0199%	1h	144.26	−0.062%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.34	−0.006%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.43	+0.056%	$4K	$101K	10x	as long as short
ApeX Omni AAVEUSDT	−0.0026%	1h	144.08	−0.187%	$134K	$229K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.40	+0.038%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.37	+0.014%	$71K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.45	+0.073%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.41	+0.040%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−5.119%	$422	$51K	12x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERPlong	+0.0044%	1h	144.35	long leg	—	—	20x
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.34	−0.006%	$17.5M	$65.7M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0054%	8h	144.37	+0.014%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0056%	8h	144.37	+0.014%	$7.7M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0067%	8h	144.31	−0.027%	$31.6M	$26.2M	200x	as long as short
Binance AAVEUSDT	+0.0067%	8h	144.37	+0.014%	$65.7M	$183.3M	75x	as long as short
Nado AAVE-PERP	+0.0091%	1h	144.35	+0.004%	$801K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0094%	8h	144.35	+0.003%	$455K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.57	+0.156%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.38	+0.023%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.41	+0.044%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.39	+0.027%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.45	+0.070%	$80.2M	$33.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.43	+0.056%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.40	+0.036%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.38	+0.021%	$61.5M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.36	+0.007%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	+0.184%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.41	+0.042%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.34	−0.006%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.41	+0.042%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.43	+0.056%	$377K	$702K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.08	−0.187%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.26	−0.061%	$100K	$313K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.43	+0.056%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.33	−0.011%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.72	+0.260%	$726K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.39	+0.028%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.34	−0.008%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0188%	8h	144.32	−0.020%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	+0.007%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.46	+0.074%	$124K	—	100x	as long as short