Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0045%/8h= −5.0% APRpaid last 24h +0.027%

Price spread now: Nado against Variational Omni−0.103%7-day average −0.002% · you buy dearer than you sell

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.066%+$7 on $10k

Price spread, last 4 days (all we have)+0.400%+$40 · spread now −0.103%, 7d avg −0.002%

Together, before fees+0.466%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.101% cheaper against Variational Omni than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.002%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.066%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	142.65	0.0100	pay 0.0100% / 8h	4h 53m	$3.7M	$1.3M	—
Short	Nado AAVE-PERP	142.50	0.0055	get 0.0007% / 1h	53m 09s	$835K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.103%Rate

Funding earned: −$9.51
Price spread: −0.103% → −0.002%: −$10.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$26.62
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Nado: live order book, 5 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, 1 min ago	3.09 bp	doesn't fit	12.8 bp −$128	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	1.76 bp	10.1 bp −$10	17.1 bp −$171	doesn't fit	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
01 Exchange AAVEUSD	−0.0136%	1h	142.48	−0.120%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0035%	1h	142.57	−0.057%	$5K	$297K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.65	−0.001%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.55	−0.071%	$53K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.59	−0.043%	$224K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.55	−0.070%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.990%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.48	−0.123%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	142.56	−0.064%	$18K	$10K	10x	as long as short
Nado AAVE-PERPshort	+0.0055%	1h	142.50	−0.103%	$835K	$438K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.67	+0.013%	$4K	$102K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	142.29	−0.253%	$132K	$219K	50x	as long as short
Lighter AAVE	+0.0096%	1h	142.59	−0.041%	$4.5M	$1.7M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.53	−0.084%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.65	−0.001%	$77.1M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.64	−0.008%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.58	−0.048%	$324K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.55	−0.074%	$63.9M	$184.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.54	−0.078%	$61.2M	$65.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.51	−0.099%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.51	−0.099%	$44K	$179K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.54	−0.078%	$7.9M	$15.4M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.57	−0.057%	$25.4M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.60	−0.036%	$10.6M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.44	−0.148%	$29.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.51	−0.099%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.62	−0.022%	$347K	$707K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	142.65	long leg	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	142.46	−0.137%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.15	−0.352%	$449K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.54	−0.078%	$122K	$385K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.50	−0.103%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.64	−0.009%	$686K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.49	−0.113%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.018%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.54	−0.077%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.60	−0.038%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.56	−0.065%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.49	−0.113%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0261% / S −0.0408%	1h	142.54	−0.079%	$121K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.62	−0.022%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.118%	$774K	$2.8M	50x	as long as short