Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.023%

Price spread now: Arcus against Orderly+0.021%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 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 +$2 a day on $10k at the current rate, and Arcus is 0.021% dearer against Orderly than usual: you sell high and buy low: +$2 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	Orderly PERP_AAVE_USDC	143.38	0.0050	pay 0.0050% / 8h	2h 06m	$18K	$12K	10x
Short	Arcus AAVE-USD	143.41	0.0100	get 0.0013% / 1h	6m 05s	$50K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.021%Rate

Funding earned: $10.57
Price spread: +0.021% → 0.000%: $2.09
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $2.16
Costs to cover: 0.105%
Break-even: 5.6 days

Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 17 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 Arcus live order book, 17 min ago	1.38 bp	6.4 bp −$6	20.8 bp −$208	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
Deribit AAVE_USDC-PERPETUAL	−0.0168%	1h	143.51	+0.091%	$252K	$489K	50x	as long as short
SoDEX AAVE-USD	−0.0138%	1h	143.46	+0.056%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0096%	1h	143.38	0.000%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.10	+0.502%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.54	+0.115%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.50	+0.084%	$70K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.47	+0.066%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.61	+0.161%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.478%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.36	−0.015%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0047%	8h	143.52	+0.098%	$30.9M	$26.4M	200x	as long as short
Binance AAVEUSDT	+0.0047%	8h	143.56	+0.126%	$65.4M	$185.3M	75x	as long as short
Orderly PERP_AAVE_USDClong	+0.0050%	8h	143.38	long leg	$18K	$12K	10x
OKX AAVE-USDT-SWAP	+0.0054%	8h	143.56	+0.126%	$17.3M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0056%	1h	144.02	+0.446%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0061%	8h	143.54	+0.112%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.415%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.07	+0.481%	$450K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.74	+0.248%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.47	+0.063%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.46	+0.053%	$178K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.43	+0.031%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.41	+0.024%	$796K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.66	+0.195%	$79.4M	$33.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.59	+0.146%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.40	+0.014%	$327K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.58	+0.139%	$61.1M	$65.5M	75x	as long as short
Arcus AAVE-USDshort	+0.0100%	1h	143.41	+0.021%	$50K	$273K	10x
KuCoin AAVEUSDTM	+0.0100%	8h	143.51	+0.091%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.49	+0.077%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.56	+0.126%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.66	+0.195%	$380K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.01	+0.440%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.06	+0.474%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.45	+0.049%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.37	−0.010%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.87	+0.344%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.56	+0.126%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.40	+0.012%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0167%	8h	143.40	+0.014%	$3.4M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.66	+0.195%	$770K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.45	+0.050%	$123K	—	100x	as long as short