Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.019%

Price spread now: dYdX against Orderly−0.011%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 dYdX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	140.79	0.0084	pay 0.0084% / 8h	5h 07m	$17K	$2K	10x
Short	dYdX AAVE-USD	140.77	0	get 0.0000% / 1h	7m 31s	$101K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$17.65
Price spread: −0.011% → 0.000%: −$1.08
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$34.73
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: live order book, 39 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 dYdX live order book, 39 min ago	139.70 bp	144.7 bp −$145	144.7 bp −$1,447	145.2 bp −$14.5K	164.4 bp −$82.2K

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 exchanges

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
01 Exchange AAVEUSD	−0.0032%	1h	140.83	+0.028%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0008%	1h	140.81	+0.014%	$7K	$216K	10x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	140.77	−0.011%	$101K	$6K	10x
Kalshi KXAAVEPERP	0.0000%	8h	140.83	+0.028%	$51K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.83	+0.028%	$207K	$304K	50x	as long as short
Bybit AAVEUSDT	+0.0002%	8h	140.77	−0.014%	$60.7M	$58.9M	75x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.85	+0.044%	$78K	—	150x	as long as short
Phoenix AAVE	+0.0028%	1h	140.89	+0.071%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.720%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.76	−0.023%	—	—	20x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAVE	+0.0067%	8h	140.64	−0.107%	$3.6M	$758K	—	as long as short
Phemex AAVEUSDT	+0.0073%	8h	140.80	+0.007%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDClong	+0.0084%	8h	140.79	long leg	$17K	$2K	10x
Lighter AAVE	+0.0096%	1h	140.99	+0.139%	$4.5M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.77	−0.012%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.64	−0.107%	$809K	$305K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.83	+0.028%	$77.4M	$27.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.90	+0.078%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.84	+0.034%	$343K	$299K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.81	+0.011%	$63.5M	$158.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.64	−0.107%	$16.1M	$51.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.94	+0.107%	$94K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.86	+0.053%	$166K	$69K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.83	+0.028%	$8.1M	$13.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.68	−0.078%	$22.3M	$22.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.85	+0.043%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.66	−0.092%	$29.0M	$15.7M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.79	0.000%	—	$34.6M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.70	−0.063%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.87	+0.058%	$448K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.78	−0.007%	$131K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.85	+0.043%	$132K	$366K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.82	+0.019%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.17	+0.272%	$637K	$1.4M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.71	−0.053%	$912K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.83	+0.028%	$119K	—	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	140.87	+0.054%	$182K	$226K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0138%	1h	140.94	+0.107%	$385K	$594K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.70	−0.064%	$3.2M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	141.36	+0.405%	$755K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	140.75	−0.031%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0308%	1h	140.94	+0.110%	$3.4M	$1.8M	50x	as long as short