Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: dYdX against Variational Omni−0.003%7-day average +0.033% · you buy dearer than you sell

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.003%, 7d avg +0.033%

Together, before fees−0.070%+ Points / potential airdropVariational Omni: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.036% cheaper against Variational Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	143.96	0.0100	pay 0.0100% / 8h	6h 06m	$3.7M	$1.3M	—
Short	dYdX AAVE-USD	143.96	0	get 0.0000% / 1h	6m 58s	$103K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. 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 Variational OmnibpFee dYdXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$21
Price spread: −0.003% → +0.033%: −$3.58
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$34.58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; dYdX: live order book, 62 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	3.06 bp	doesn't fit	12.8 bp −$128	doesn't fit	doesn't fit
Sell dYdX live order book, 62 min ago	67.94 bp	77.4 bp −$77	206.2 bp −$2,062	387.0 bp −$38.7K	871.7 bp −$435.9K

AAVE on 41 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
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.05	+0.059%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	143.86	−0.069%	$11K	$2K	5x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	143.96	−0.003%	$103K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	143.83	−0.090%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.93	−0.021%	$244K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.87	−0.065%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.77	−0.132%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.862%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.81	−0.107%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.87	−0.062%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0079%	8h	143.96	0.000%	$26.5M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0081%	8h	143.98	+0.014%	$64.9M	$183.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0087%	8h	143.97	+0.007%	$17.3M	$64.4M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	143.92	−0.029%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.12	+0.113%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.83	−0.091%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.88	−0.052%	$800K	$419K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.04	+0.056%	$77.9M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.91	−0.036%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.96	−0.002%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.91	−0.035%	$61.6M	$64.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.90	−0.042%	$44K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.94	−0.014%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.97	+0.007%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.89	−0.048%	$29.9M	$17.6M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.93	−0.021%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.05	+0.063%	$321K	$721K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	143.96	long leg	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	143.60	−0.248%	$103K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.60	−0.250%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.67	−0.201%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.84	−0.083%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.85	−0.073%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.95	−0.007%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.05	+0.061%	$697K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.93	−0.021%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.09	+0.094%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.82	−0.096%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.91	−0.037%	$122K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0251% / S −0.0393%	1h	143.87	−0.064%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.10	+0.097%	$774K	$2.8M	50x	as long as short