Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0012%/8h= −1.4% APRpaid last 24h −0.015%

Price spread now: Variational Omni against RISEx−0.131%7-day average −0.017% · you buy dearer than you sell

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

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.038%−$4 on $10k

Price spread, last 4 days (all we have)+0.407%+$41 · spread now −0.131%, 7d avg −0.017%

Together, before fees+0.369%+ Points / potential airdropVariational Omni: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Variational Omni is 0.114% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx AAVE/USDC	141.90	0.0112	pay 0.0014% / 1h	58m 07s	$172K	$207K	10x
Short	Variational Omni AAVE	141.71	0.0100	get 0.0100% / 8h	5h 58m	$3.7M	$692K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 RISExbpFee Variational OmnibpOrdersPrice spread, now −0.131%Rate

Funding earned: −$2.59
Price spread: −0.131% → −0.017%: −$11.4
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 53 min ago; Variational Omni: RFQ quote, 4 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 RISEx live order book, 53 min ago	2.20 bp	5.2 bp −$5	11.5 bp −$115	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.10 bp	doesn't fit	9.1 bp −$91	doesn't fit	doesn't fit

AAVE on 42 exchanges

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	−0.0155%	1h	141.84	−0.041%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.01	+0.078%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.90	+0.002%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.87	−0.019%	$41K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.88	−0.012%	$208K	$335K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.90	+0.002%	$79K	—	150x	as long as short
Phemex AAVEUSDT	+0.0009%	8h	141.88	−0.012%	$3.9M	$3.6M	50x	as long as short
Bybit AAVEUSDT	+0.0023%	8h	141.84	−0.041%	$61.4M	$60.0M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.480%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0035%	1h	141.73	−0.118%	$132K	$221K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	141.75	−0.100%	—	—	20x	as long as short
Phoenix AAVE	+0.0062%	1h	142.10	+0.143%	$4K	$80K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.83	−0.048%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.05	+0.105%	$4.6M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.78	−0.082%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.84	−0.044%	$815K	$310K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.05	+0.107%	$78.0M	$28.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.90	+0.002%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.89	−0.008%	$346K	$312K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.84	−0.041%	$63.9M	$163.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.87	−0.019%	$16.4M	$52.9M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.99	+0.065%	$95K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.89	−0.005%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.86	−0.026%	$22.0M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.89	−0.005%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.91	+0.009%	$29.3M	$15.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.84	−0.041%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.00	+0.072%	$386K	$600K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	141.71	−0.131%	$3.7M	$692K	—
edgeX AAVEUSDC	+0.0100%	4h	141.75	−0.103%	$109K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.88	−0.012%	$448K	$3.2M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.87	−0.019%	$134K	$371K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.81	−0.065%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.09	+0.139%	$659K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.76	−0.093%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.79	−0.075%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.84	−0.044%	$120K	$146	10x	as long as short
RISEx AAVE/USDClong	+0.0112%	1h	141.90	long leg	$172K	$207K	10x
BloFin AAVE-USDT	+0.0220%	8h	141.81	−0.062%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	142.03	+0.093%	$754K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.87	−0.017%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.98	+0.061%	$3.4M	$1.9M	50x	as long as short