Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0272%/8h= −29.8% APRnext payment −$0.34 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures−0.069%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Reya is 0.069% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 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	Kraken Futures PF_AAVEUSD	142.59	0.0316	pay 0.0040% / 1h	43m 40s	$3.4M	$2.1M	50x
Short	Reya AAVERUSDPERP	142.49	0.0044	get 0.0006% / 1h	43m 40s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.069%Rate

Funding earned: −$57.13
Price spread: −0.069% → 0.000%: −$6.94
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$80.07
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago	4.90 bp	14.3 bp −$14	24.4 bp −$244	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	142.51	−0.061%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.59	−0.001%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.48	−0.078%	$217K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.55	−0.028%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.949%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	142.49	−0.069%	—	—	20x
Nado AAVE-PERP	+0.0059%	1h	142.56	−0.019%	$827K	$401K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0077%	8h	142.47	−0.085%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.30	+0.497%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.53	−0.042%	$4.5M	$2.4M	10x	as long as short

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	142.39	−0.143%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.51	−0.056%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.49	−0.071%	$325K	$449K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.48	−0.075%	$64.2M	$192.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.54	−0.036%	$61.3M	$68.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.56	−0.022%	$17.0M	$65.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.60	+0.006%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.204%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.53	−0.043%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.54	−0.036%	$25.0M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.49	−0.071%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.51	−0.057%	$29.1M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.53	−0.043%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.54	−0.036%	$335K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.34	−0.176%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.55	−0.027%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.76	+0.116%	$452K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.70	+0.076%	$133K	$223K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.61	+0.013%	$141K	$471K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.47	−0.087%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.47	−0.085%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.160%	$678K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.49	−0.071%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.52	−0.048%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.50	−0.064%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0136%	1h	142.55	−0.029%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0200%	1h	142.59	−0.001%	$78.0M	$37.3M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.77	+0.125%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.54	−0.035%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.55	−0.031%	$195K	$262K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.70	+0.076%	$756K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0316%	1h	142.59	long leg	$3.4M	$2.1M	50x