Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h −0.015%

Price spread now: Orderly against ApeX Omni−0.096%7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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 0.096% cheaper against ApeX Omni than usual: you would sell low and buy high (−$10 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	ApeX Omni AAVEUSDT	146.26	0.0092	pay 0.0011% / 1h	28m 31s	$136K	$231K	50x
Short	Orderly PERP_AAVE_USDC	146.12	0.0047	get 0.0047% / 8h	7h 28m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against ApeX 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 ApeX OmnibpFee OrderlybpOrdersPrice spread, now −0.096%Rate

Funding earned: −$9.45
Price spread: −0.096% → 0.000%: −$9.57
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$35.02
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 43 min ago; 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 ApeX Omni live order book, 43 min ago	5.14 bp	13.3 bp −$13	114.3 bp −$1,143	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.23	−0.018%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.32	+0.041%	$11K	$2K	5x	as long as short
Phemex AAVEUSDT	−0.0128%	8h	146.16	−0.068%	$4.2M	$3.8M	50x	as long as short
SoDEX AAVE-USD	−0.0108%	1h	146.14	−0.082%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.16	−0.068%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.36	+0.067%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.23	−0.021%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.31	+0.034%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.19	−0.048%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0019%	8h	146.35	+0.062%	$29.2M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0019%	8h	146.38	+0.081%	$66.3M	$184.0M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.359%	$422	$51K	12x	as long as short
Gate AAVE_USDT	+0.0038%	8h	146.43	+0.116%	$7.9M	$15.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.33	+0.050%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0047%	8h	146.12	−0.096%	$18K	$10K	10x
OKX AAVE-USDT-SWAP	+0.0061%	8h	146.34	+0.055%	$18.0M	$66.6M	50x	as long as short
BloFin AAVE-USDT	+0.0077%	8h	146.14	−0.082%	$3.5M	$3.5M	100x	as long as short
Bybit AAVEUSDT	+0.0078%	8h	146.34	+0.055%	$62.7M	$65.0M	75x	as long as short
GRVT AAVE_USDT_Perp	+0.0087%	8h	146.23	−0.024%	$460K	$3.8M	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.16	−0.071%	$123K	$146	10x	as long as short
ApeX Omni AAVEUSDTlong	+0.0092%	1h	146.26	long leg	$136K	$231K	50x
Lighter AAVE	+0.0096%	1h	146.57	+0.215%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.38	+0.083%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.33	+0.048%	$800K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.43	+0.116%	$79.9M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.45	+0.130%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.38	+0.082%	$334K	$502K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.43	+0.116%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	+0.066%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.43	+0.116%	$10.1M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.36	+0.068%	$30.4M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.40	+0.096%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.27	+0.007%	$333K	$737K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.16	−0.067%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.15	−0.074%	$105K	$319K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.41	+0.103%	$128K	$426K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.06	−0.134%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.36	+0.068%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.36	+0.071%	$937K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.45	+0.132%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.14	−0.082%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	+0.109%	$786K	$2.9M	50x	as long as short