Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2013%/8h= +220.5% APRpaid last 24h +0.292%

Price spread now: Orderly against Deribit+0.202%7-day average — · you sell dearer than you buy

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

Long on Deribit 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 for this trade now. Funding pays +$60 a day on $10k at the current rate, and Orderly is 0.202% dearer against Deribit than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	143.88	−0.1969	get 0.0246% / 1h	58m 11s	$244K	$370K	50x
Short	Orderly PERP_AAVE_USDC	144.17	0.0044	get 0.0044% / 8h	5h 58m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now +0.202%Rate

Funding earned: $422.81
Price spread: +0.202% → 0.000%: $20.16
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $429.97
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Deribit: live order book, 1 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 Deribit live order book, 1 min ago	6.58 bp	10.8 bp −$11	doesn't fit	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 41 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-PERPETUALlong	−0.1969%	1h	143.88	long leg	$244K	$370K	50x
01 Exchange AAVEUSD	−0.0056%	1h	144.28	+0.278%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.50	+0.429%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.29	+0.285%	$70K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.22	+0.234%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.51	+0.438%	$5K	$89K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.810%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.15	+0.186%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0044%	8h	144.17	+0.202%	$18K	$10K	10x
SoDEX AAVE-USD	+0.0061%	1h	144.15	+0.188%	$5K	$291K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AAVE-USDT-SWAP	+0.0088%	8h	144.00	+0.083%	$17.3M	$63.6M	50x	as long as short
MEXC AAVE_USDT	+0.0091%	8h	144.22	+0.236%	$26.5M	$23.4M	200x	as long as short
Binance AAVEUSDT	+0.0091%	8h	144.11	+0.163%	$65.0M	$181.7M	75x	as long as short
Lighter AAVE	+0.0096%	1h	144.35	+0.326%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.42	+0.375%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.31	+0.299%	$803K	$414K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.32	+0.306%	$78.1M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.28	+0.278%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.43	+0.384%	$329K	$433K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.06	+0.125%	$61.6M	$63.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.31	+0.299%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.20	+0.222%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.35	+0.327%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.15	+0.188%	$30.0M	$17.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.22	+0.236%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.51	+0.438%	$323K	$718K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.37	+0.340%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.36	+0.337%	$104K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.47	+0.412%	$453K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.44	+0.389%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.34	+0.320%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.17	+0.203%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.30	+0.293%	$698K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.13	+0.174%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.129%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.10	+0.153%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.20	+0.223%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.33	+0.314%	$200K	$229K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0256% / S −0.0405%	1h	144.21	+0.227%	$125K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0266%	1h	144.24	+0.249%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.36	+0.334%	$776K	$2.8M	50x	as long as short