Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.046%

Price spread now: Variational Omni against Phemex+0.053%7-day average −0.035% · you sell dearer than you buy

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.271%−$27 · spread now +0.053%, 7d avg −0.035%

Together, before fees−0.339%+ Points / potential airdropVariational Omni: Active · farm board−$34 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.088% dearer against Phemex than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	144.98	0.0100	pay 0.0100% / 8h	1h 16m	$4.1M	$3.8M	50x
Short	Variational Omni AAVE	145.06	0.0100	get 0.0100% / 8h	1h 16m	$3.8M	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhemexbpFee Variational OmnibpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → −0.035%: $8.83
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$3.17
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Variational Omni: RFQ quote, 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 Phemex live order book, 2 min ago	4.48 bp	13.3 bp −$13	21.0 bp −$210	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.10 bp	doesn't fit	12.8 bp −$128	doesn't fit	doesn't fit

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	+0.021%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0095%	1h	145.01	+0.021%	$255K	$465K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.16	+0.124%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0042%	1h	145.00	+0.014%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	+0.052%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.13	+0.103%	$68K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.02	+0.025%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.532%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.17	+0.131%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0036%	8h	145.16	+0.124%	$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	−0.037%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.27	+0.197%	$181K	$244K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.96	−0.014%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.12	+0.093%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0055%	8h	145.20	+0.152%	$17.6M	$66.7M	50x	as long as short
Gate AAVE_USDT	+0.0064%	8h	145.18	+0.138%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.05	+0.048%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.33	+0.244%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	145.13	+0.102%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.13	+0.102%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.99	+0.007%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.27	+0.200%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.10	+0.083%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.18	+0.138%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.19	+0.145%	$61.7M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.23	+0.172%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	+0.065%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.12	+0.097%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.20	+0.152%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.20	+0.152%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.15	+0.117%	$347K	$726K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	145.06	+0.053%	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	145.08	+0.070%	$104K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.08	+0.069%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.05	+0.048%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.99	+0.010%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.25	+0.188%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	144.98	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	145.17	+0.129%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0145%	8h	144.99	+0.007%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.01	+0.024%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	+0.055%	$787K	$3.0M	50x	as long as short