Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Variational Omni against ApeX Omni−0.134%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 ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.134%, 7d avg −0.033%

Together, before fees−0.050%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.101% cheaper against ApeX Omni than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni AAVEUSDT	143.01	0.0100	pay 0.0013% / 1h	58m 57s	$133K	$220K	50x
Short	Variational Omni AAVE	142.82	0.0100	get 0.0100% / 8h	6h 58m	$3.7M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.134%Rate

Funding earned: $0
Price spread: −0.134% → −0.033%: −$10.06
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.06
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 32 min ago; Variational Omni: RFQ quote, 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 ApeX Omni live order book, 32 min ago	4.27 bp	14.0 bp −$14	98.0 bp −$980	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.11 bp	doesn't fit	10.4 bp −$104	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
Deribit AAVE_USDC-PERPETUAL	−0.0101%	1h	142.48	−0.371%	$211K	$360K	50x	as long as short
Phemex AAVEUSDT	−0.0080%	8h	142.55	−0.322%	$3.9M	$3.6M	50x	as long as short
SoDEX AAVE-USD	−0.0048%	1h	142.46	−0.385%	$6K	$285K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.75	−0.180%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.58	−0.301%	$50K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.88	−0.091%	$82K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.230%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.52	−0.344%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0093%	8h	142.48	−0.371%	$17K	$6K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.68	−0.231%	$4.6M	$2.2M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0096%	1h	142.93	−0.056%	$4K	$96K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.60	−0.289%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	142.64	−0.255%	$825K	$385K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.77	−0.168%	$78.1M	$36.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.60	−0.283%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.71	−0.209%	$348K	$364K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.58	−0.301%	$63.9M	$187.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.56	−0.315%	$61.4M	$67.0M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.53	−0.336%	$16.6M	$62.9M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.79	−0.154%	$98K	$228K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.71	−0.211%	$165K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.57	−0.308%	$8.1M	$13.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.56	−0.315%	$22.6M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.55	−0.322%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.58	−0.301%	$29.0M	$17.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.57	−0.308%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.68	−0.231%	$388K	$731K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	142.82	−0.134%	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	142.90	−0.074%	$110K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.98	−0.021%	$449K	$3.4M	10x	as long as short
ApeX Omni AAVEUSDTlong	+0.0100%	1h	143.01	long leg	$133K	$220K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.71	−0.210%	$133K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.48	−0.369%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	−0.134%	$669K	$5.3M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.48	−0.374%	$916K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.51	−0.352%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.72	−0.203%	$10K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0164%	1h	142.58	−0.301%	$173K	$275K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0175%	1h	142.57	−0.308%	$3.4M	$2.1M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.50	−0.357%	$3.2M	$3.5M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0232%	1h	142.71	−0.210%	$758K	$2.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	142.91	−0.071%	$111K	—	100x	as long as short