Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.033%

Price spread now: Orderly against SoDEX−0.014%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	145.34	−0.0026	get 0.0003% / 1h	8m 47s	$5K	$298K	10x
Short	Orderly PERP_AAVE_USDC	145.32	0.0051	get 0.0051% / 8h	1h 08m	$18K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against SoDEX. 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 SoDEXbpFee OrderlybpOrdersPrice spread, now −0.014%Rate

Funding earned: $16.11
Price spread: −0.014% → 0.000%: −$1.38
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $0.73
Costs to cover: 0.140%
Break-even: 6.7 days

Slippage unknown: SoDEX: live order book, 10 min ago; Orderly: 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 SoDEX live order book, 10 min ago	0.34 bp	5.0 bp −$5	9.3 bp −$93	94.0 bp −$9,397	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0128%	1h	145.27	−0.048%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	−0.172%	$5K	$100K	10x	as long as short
SoDEX AAVE-USDlong	−0.0026%	1h	145.34	long leg	$5K	$298K	10x
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.35	+0.007%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.12	−0.150%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.40	+0.041%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.38	+0.029%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.766%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0037%	8h	145.34	0.000%	$30.8M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0039%	8h	145.34	−0.003%	$66.3M	$185.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.37	+0.017%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.27	−0.049%	$181K	$245K	10x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0051%	8h	145.32	−0.014%	$18K	$12K	10x
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.44	+0.069%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0058%	8h	145.27	−0.048%	$17.6M	$67.0M	50x	as long as short
Gate AAVE_USDT	+0.0068%	8h	145.35	+0.007%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.38	+0.024%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.55	+0.144%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0099%	8h	145.02	−0.219%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.18	−0.112%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.32	−0.015%	$804K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.46	+0.083%	$79.9M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.41	+0.047%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.20	−0.095%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.36	+0.014%	$62.0M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.22	−0.083%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.147%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.35	+0.007%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.40	+0.041%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.34	0.000%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.47	+0.089%	$348K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.04	−0.210%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.06	−0.194%	$104K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.10	−0.165%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.43	+0.062%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.38	+0.029%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.50	+0.113%	$697K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.35	+0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.31	−0.021%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0154%	8h	145.38	+0.028%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.37	+0.021%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.193%	$787K	$3.0M	50x	as long as short