Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h —

Price spread now: KuCoin against Reya+0.175%49s7-day average — · you sell dearer than you buy

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

Long on Reya Short on KuCoin

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.175% dearer against Reya than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	144.03	0.0044	pay 0.0006% / 1h	10m 39s	—	—	20x
Short	KuCoin AAVEUSDTM	144.28	0.0100	get 0.0100% / 8h	2h 10m	$10.2M	$8.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.175%Rate

Funding earned: $11.73
Price spread: +0.175% → 0.000%: $17.49
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $11.22
Costs to cover: 0.180%
Break-even: 0.3 days

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 8 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 KuCoin live order book, 8 min ago	1.73 bp	18.9 bp −$19	38.6 bp −$386	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	−0.0374%	1h	144.05	+0.015%	$253K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0153%	1h	144.05	+0.015%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0104%	1h	144.36	+0.230%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.39	+0.251%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.29	+0.185%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.05	+0.015%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.08	+0.039%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.18	+0.103%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.907%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	144.03	long leg	—	—	20x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0048%	8h	144.25	+0.154%	$31.2M	$26.4M	200x	as long as short
Binance AAVEUSDT	+0.0049%	8h	144.28	+0.175%	$65.7M	$184.8M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.01	−0.013%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	144.29	+0.182%	$17.4M	$66.1M	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	144.30	+0.189%	$7.8M	$15.9M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	−0.037%	$60K	$3K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0079%	1h	144.26	+0.161%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0090%	8h	144.17	+0.098%	$451K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.41	+0.267%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.06	+0.023%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.34	+0.214%	$180K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.23	+0.140%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.25	+0.151%	$800K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.35	+0.224%	$80.2M	$33.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.22	+0.133%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.26	+0.159%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.31	+0.196%	$61.4M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.29	+0.182%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTMshort	+0.0100%	8h	144.28	+0.175%	$10.2M	$8.6M	75x
Bitget AAVEUSDT	+0.0100%	8h	144.24	+0.147%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.23	+0.140%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.27	+0.168%	$381K	$707K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.27	+0.167%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.28	+0.173%	$101K	$315K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.12	+0.064%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.02	−0.008%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.39	+0.248%	$717K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.09	+0.043%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.23	+0.140%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0169%	8h	144.05	+0.015%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.51	+0.335%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.08	+0.035%	$124K	—	100x	as long as short