Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Bybit against Variational Omni+0.203%7-day average +0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 7 days−0.185%−$19 · spread now +0.203%, 7d avg +0.006%

Together, before fees−0.161%+ Points / potential airdropVariational Omni: Active · farm board−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.197% dearer against Variational Omni than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	143.65	0.0100	pay 0.0100% / 8h	1h 56m	$3.8M	$1.3M	—
Short	Bybit AAVEUSDT	143.94	0.0100	get 0.0100% / 8h	1h 56m	$61.1M	$65.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now +0.203%Rate

Funding earned: $0
Price spread: +0.203% → +0.006%: $19.73
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $8.73
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bybit: live order book, 2 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 Variational Omni RFQ quote, 2 min ago	3.10 bp	doesn't fit	13.1 bp −$131	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.35 bp	8.7 bp −$9	14.7 bp −$147	54.7 bp −$5,475	doesn't fit

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	−0.0237%	1h	143.74	+0.064%	$252K	$480K	50x	as long as short
01 Exchange AAVEUSD	−0.0232%	1h	143.54	−0.076%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0168%	1h	143.68	+0.022%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0044%	1h	143.73	+0.057%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.65	−0.001%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.72	+0.050%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.71	+0.041%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.656%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0039%	8h	143.94	+0.200%	$65.4M	$185.4M	75x	as long as short
MEXC AAVE_USDT	+0.0040%	8h	143.92	+0.189%	$31.1M	$25.6M	200x	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	143.64	−0.006%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	143.63	−0.016%	$179K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	143.73	+0.057%	$18K	$12K	10x	as long as short
Bulk AAVE-USD	+0.0049%	1h	143.56	−0.062%	$60K	$3K	10x	as long as short
Nado AAVE-PERP	+0.0052%	1h	143.55	−0.069%	$795K	$438K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	143.96	+0.217%	$17.4M	$66.1M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	143.84	+0.131%	$3.4M	$2.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0056%	1h	143.58	−0.048%	$133K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0056%	8h	143.90	+0.175%	$7.8M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	143.74	+0.067%	$121K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0089%	8h	143.62	−0.020%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.91	+0.181%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.52	−0.086%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.90	+0.175%	$79.0M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.87	+0.155%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.58	−0.049%	$327K	$505K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	143.94	+0.203%	$61.1M	$65.6M	75x
Arcus AAVE-USD	+0.0100%	1h	143.56	−0.062%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.82	+0.119%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.86	+0.147%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.91	+0.182%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.94	+0.203%	$380K	$709K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	143.65	long leg	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	143.62	−0.023%	$101K	$313K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.65	+0.001%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.52	−0.091%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.97	+0.222%	$716K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.75	+0.071%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.84	+0.132%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0156%	8h	143.61	−0.027%	$3.4M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.72	+0.050%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	143.80	+0.105%	$772K	$3.0M	50x	as long as short