Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.06 per $10,000 · paid last 24h —

Price spread now: Reya against Deribit+0.001%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 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 airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	143.00	0	get 0.0000% / 1h	20m 04s	$218K	$390K	50x
Short	Reya AAVERUSDPERP	143.00	0.0044	get 0.0006% / 1h	20m 04s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.001%Rate

Funding earned: $9.27
Price spread: +0.001% → 0.000%: $0.12
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$3.61
Costs to cover: 0.130%
Break-even: 9.7 days

Slippage unknown: Deribit: live order book, 29 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 Deribit live order book, 29 min ago	5.22 bp	8.7 bp −$9	doesn't fit	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
dYdX AAVE-USD	0.0000%	1h	142.88	−0.087%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.87	−0.091%	$50K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	143.00	long leg	$218K	$390K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.02	+0.014%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0031%	1h	142.97	−0.023%	$834K	$397K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.224%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	142.79	−0.147%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	143.00	+0.001%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0057%	8h	143.02	+0.014%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0062%	8h	142.99	−0.007%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0088%	1h	143.06	+0.042%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.00	−0.001%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.94	−0.044%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.90	−0.070%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.92	−0.056%	$63.8M	$189.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.93	−0.049%	$61.4M	$67.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.95	−0.035%	$17.0M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.09	+0.063%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.57	−0.302%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.87	−0.091%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.95	−0.035%	$25.4M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.99	−0.007%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.93	−0.049%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.84	−0.112%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.99	−0.007%	$336K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.73	−0.189%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.59	−0.290%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.89	−0.077%	$450K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.62	−0.266%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.07	+0.049%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.75	−0.171%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.00	0.000%	$5K	$310K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.10	+0.071%	$684K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.96	−0.031%	$904K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.02	+0.014%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.06	+0.039%	$185K	$251K	10x	as long as short
Hyperliquid AAVE	+0.0155%	1h	143.01	+0.007%	$78.2M	$37.1M	10x	as long as short
Lighter AAVE	+0.0184%	1h	143.12	+0.085%	$4.5M	$2.3M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.72	−0.196%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	143.11	+0.077%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.01	+0.010%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	142.80	−0.140%	$782K	$2.8M	50x	as long as short