Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.016%

Price spread now: ApeX Omni against Orderly−0.105%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on ApeX Omni

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

Funding pays, the price is against you. ApeX Omni is 0.105% cheaper against Orderly than usual: you would sell low and buy high (spread −0.105% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 8.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	142.77	0.0057	pay 0.0057% / 8h	3h 20m	$18K	$10K	10x
Short	ApeX Omni AAVEUSDT	142.62	0.0100	get 0.0013% / 1h	20m 57s	$133K	$221K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now −0.105%Rate

Funding earned: $9
Price spread: −0.105% → 0.000%: −$10.51
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$17.51
Costs to cover: 0.160%
Break-even: 20.6 days

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 30 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 30 min ago	5.91 bp	14.3 bp −$14	113.0 bp −$1,130	doesn't fit	doesn't fit

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
dYdX AAVE-USD	0.0000%	1h	142.86	+0.061%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.73	−0.028%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.76	−0.007%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.81	+0.031%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0032%	1h	142.86	+0.061%	$835K	$399K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.069%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	142.79	+0.014%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.76	−0.007%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0057%	8h	142.77	long leg	$18K	$10K	10x
Phemex AAVEUSDT	+0.0059%	8h	142.68	−0.063%	$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	142.85	+0.056%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.92	+0.107%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.66	−0.076%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.88	+0.080%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.65	−0.084%	$63.7M	$189.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.67	−0.070%	$61.2M	$67.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.67	−0.070%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.89	+0.084%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.57	−0.141%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.62	−0.105%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.65	−0.084%	$25.4M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.67	−0.070%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.65	−0.084%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.65	−0.084%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.74	−0.021%	$335K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.73	−0.028%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.59	−0.129%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.89	+0.084%	$450K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDTshort	+0.0100%	1h	142.62	−0.105%	$133K	$221K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.89	+0.084%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.75	−0.018%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.71	−0.042%	$5K	$310K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.78	+0.006%	$683K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.63	−0.097%	$901K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.78	+0.008%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	142.85	+0.055%	$185K	$251K	10x	as long as short
Hyperliquid AAVE	+0.0158%	1h	142.78	+0.007%	$78.1M	$37.1M	10x	as long as short
Lighter AAVE	+0.0168%	1h	142.85	+0.055%	$4.5M	$2.3M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.72	−0.035%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.84	+0.048%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.79	+0.017%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.02	+0.175%	$783K	$2.8M	50x	as long as short