Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.023%

Price spread now: Extended against Orderly+0.143%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 Extended

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—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.143% dearer against Orderly than usual: you sell high and buy low: +$14 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	144.96	0.0050	pay 0.0050% / 8h	1h 16m	$18K	$12K	10x
Short	Extended AAVE-USD	145.17	0.0104	get 0.0013% / 1h	16m 41s	$931K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.143%Rate

Funding earned: $11.25
Price spread: +0.143% → 0.000%: $14.26
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $14.51
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 2 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 Extended live order book, 2 min ago	1.72 bp	6.4 bp −$6	20.9 bp −$209	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
01 Exchange AAVEUSD	−0.0144%	1h	145.01	+0.034%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0095%	1h	145.01	+0.034%	$255K	$465K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.16	+0.138%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0042%	1h	145.00	+0.028%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	+0.066%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.13	+0.117%	$68K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.02	+0.039%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.519%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.17	+0.145%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0036%	8h	145.16	+0.138%	$66.1M	$185.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.93	−0.023%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.27	+0.211%	$181K	$244K	10x	as long as short
Orderly PERP_AAVE_USDClong	+0.0050%	8h	144.96	long leg	$18K	$12K	10x
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.12	+0.107%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0055%	8h	145.20	+0.166%	$17.6M	$66.7M	50x	as long as short
Gate AAVE_USDT	+0.0064%	8h	145.18	+0.152%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.05	+0.062%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.33	+0.258%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	145.13	+0.116%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.13	+0.116%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.99	+0.021%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.27	+0.214%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.10	+0.097%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.18	+0.152%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.19	+0.159%	$61.7M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.23	+0.186%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	+0.079%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.12	+0.110%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.20	+0.166%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.20	+0.166%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.15	+0.131%	$347K	$726K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.06	+0.067%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.08	+0.084%	$104K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.08	+0.083%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.05	+0.062%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.99	+0.023%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.25	+0.201%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.98	+0.014%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USDshort	+0.0104%	1h	145.17	+0.143%	$931K	$1.7M	50x
BloFin AAVE-USDT	+0.0145%	8h	144.99	+0.021%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.01	+0.038%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	+0.069%	$787K	$3.0M	50x	as long as short