Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h —

Price spread now: Reya against Variational Omni−0.054%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.054% cheaper against Variational Omni than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	141.16	0.0100	pay 0.0100% / 8h	7h 39m	$3.7M	$1.2M	—
Short	Reya AAVERUSDPERP	141.09	0.0044	get 0.0006% / 1h	39m 46s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.054%Rate

Funding earned: −$11.73
Price spread: −0.054% → 0.000%: −$5.41
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$23.14
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Reya: 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 Variational Omni RFQ quote, 4 min ago	3.07 bp	doesn't fit	11.1 bp −$111	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Deribit AAVE_USDC-PERPETUAL	−0.0033%	1h	141.13	−0.022%	$213K	$392K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.21	+0.035%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.19	+0.020%	$52K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.15	−0.008%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.977%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	141.09	−0.054%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0088%	8h	141.10	−0.044%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	141.18	+0.013%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	141.54	+0.268%	$4K	$99K	10x	as long as short
SoDEX AAVE-USD	+0.0097%	1h	141.21	+0.034%	$5K	$299K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	141.18	+0.013%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.20	+0.031%	$826K	$401K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.34	+0.126%	$77.1M	$37.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.25	+0.060%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.25	+0.063%	$329K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.19	+0.022%	$63.4M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.16	−0.001%	$60.9M	$69.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.18	+0.013%	$16.6M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.30	+0.098%	$94K	$224K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.50	+0.237%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.22	+0.041%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.21	+0.034%	$22.8M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.22	+0.041%	$10.2M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.22	+0.041%	$28.7M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.18	+0.013%	—	$43.6M	—	as long as short
Variational Omni AAVElong	+0.0100%	8h	141.16	long leg	$3.7M	$1.2M	—
edgeX AAVEUSDC	+0.0100%	4h	141.51	+0.246%	$109K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.42	+0.183%	$452K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.60	+0.310%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.19	+0.020%	$134K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.11	−0.034%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.37	+0.146%	$665K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.19	+0.020%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.16	0.000%	$907K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.13	−0.022%	$119K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0175%	1h	141.36	+0.140%	$384K	$732K	10x	as long as short
Lighter AAVE	+0.0176%	1h	141.41	+0.179%	$4.5M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.26	+0.070%	$753K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.19	+0.020%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.31	+0.103%	$172K	$298K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0249%	1h	141.29	+0.094%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.44	+0.197%	$110K	—	100x	as long as short