Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h —

Price spread now: Nado against Reya−0.038%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 Nado

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 · Nado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.038% cheaper against Reya than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 7.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	143.98	0.0044	pay 0.0006% / 1h	34m 45s	—	—	20x
Short	Nado AAVE-PERP	143.92	0.0061	get 0.0008% / 1h	34m 45s	$833K	$433K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.038%Rate

Funding earned: $3.54
Price spread: −0.038% → 0.000%: −$3.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$13.29
Costs to cover: 0.130%
Break-even: 33.3 days

Slippage unknown: Reya: no order-book sample; Nado: live order book, 28 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 Nado live order book, 28 min ago	0.69 bp	6.7 bp −$7	13.3 bp −$133	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	−0.0064%	1h	143.91	−0.049%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.85	−0.093%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.74	−0.167%	$60K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.99	+0.007%	$228K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.01	+0.021%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.876%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.98	0.000%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	143.98	long leg	—	—	20x
Nado AAVE-PERPshort	+0.0061%	1h	143.92	−0.038%	$833K	$433K	10x
Phoenix AAVE	+0.0089%	1h	143.28	−0.486%	$5K	$98K	10x	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	144.14	+0.113%	$4.6M	$1.5M	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0099%	8h	143.66	−0.222%	$17.2M	$63.5M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.84	−0.100%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.80	−0.125%	$77.8M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.03	+0.038%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.78	−0.140%	$328K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.77	−0.144%	$64.4M	$182.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.68	−0.208%	$61.4M	$64.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.90	−0.056%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.90	−0.056%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.87	−0.077%	$7.9M	$15.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.89	−0.063%	$26.0M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.99	+0.007%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.65	−0.229%	$30.1M	$17.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.69	−0.202%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.08	+0.069%	$321K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.76	−0.155%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.20	−0.543%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.25	−0.509%	$455K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.27	−0.493%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.01	+0.021%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.98	+0.001%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.99	+0.007%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.10	+0.080%	$696K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.97	−0.007%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.88	−0.070%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.00	+0.011%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.93	−0.035%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.00	+0.014%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.01	+0.020%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.05	+0.051%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.47	−0.354%	$776K	$2.8M	50x	as long as short