Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0023%/8h= −2.6% APRpaid last 24h +0.014%

Price spread now: Orderly against 01 Exchange−0.091%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.091% cheaper against 01 Exchange than usual: you would sell low and buy high (−$9 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	01 Exchange AAVEUSD	142.56	0.0088	pay 0.0011% / 1h	41m 21s	$10K	$2K	5x
Short	Orderly PERP_AAVE_USDC	142.43	0.0065	get 0.0065% / 8h	2h 41m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against 01 Exchange. 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 01 ExchangebpFee OrderlybpOrdersPrice spread, now −0.091%Rate

Funding earned: −$4.91
Price spread: −0.091% → 0.000%: −$9.12
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.03
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and 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
Nado AAVE-PERP	−0.0025%	1h	142.46	−0.070%	$830K	$402K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.58	+0.015%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.54	−0.014%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.45	−0.077%	$218K	$393K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.46	−0.072%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.928%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.44	−0.085%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0065%	8h	142.43	−0.091%	$18K	$10K	10x
Phemex AAVEUSDT	+0.0074%	8h	142.43	−0.091%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSDlong	+0.0088%	1h	142.56	long leg	$10K	$2K	5x

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	142.46	−0.069%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.65	+0.063%	$78.0M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.44	−0.083%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.61	+0.032%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.41	−0.105%	$63.5M	$189.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.43	−0.091%	$61.1M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.41	−0.105%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.57	+0.007%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	−0.026%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.46	−0.070%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.45	−0.077%	$25.5M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.51	−0.035%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.43	−0.091%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.43	−0.091%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.88	+0.224%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	+0.096%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.99	+0.302%	$448K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.65	+0.063%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.52	−0.028%	$134K	$453K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.44	−0.084%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.46	−0.070%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.182%	$682K	$5.2M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.0104%	1h	142.72	+0.112%	$335K	$727K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.39	−0.123%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.50	−0.042%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.00	+0.309%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.53	−0.019%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.43	−0.091%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.53	−0.021%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.46	−0.073%	$111K	—	100x	as long as short
Lighter AAVE	+0.0360%	1h	142.66	+0.067%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.71	+0.105%	$785K	$2.8M	50x	as long as short