Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0318%/8h= +34.8% APRnext payment +$0.40 per $10,000 · paid last 24h —

Price spread now: GMX against Reya−0.022%125s7-day average — · you buy dearer than you sell

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

Long on Reya Short on GMX

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.022% cheaper against Reya than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$10 a day). The two prices were read 125 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	142.76	0.0044	pay 0.0006% / 1h	23m 38s	—	—	20x
Short	GMX AAVE/USD [AAVE-USDC]	142.73	L +0.0252% / S −0.0362%	get 0.0045% / 1h	23m 38s	$111K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Reya. 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 ReyabpFee GMXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $66.78
Price spread: −0.022% → 0.000%: −$2.23
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $46.55
Costs to cover: 0.180%
Break-even: 2.1 days

Slippage unknown: Reya: no order-book sample; GMX: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Reya and GMX: 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	142.69	−0.045%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.67	−0.061%	$50K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.82	+0.044%	$216K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.81	+0.035%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.061%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	142.76	long leg	—	—	20x
Nado AAVE-PERP	+0.0050%	1h	142.59	−0.121%	$828K	$395K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	142.81	+0.037%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.30	−0.320%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.83	+0.052%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.65	−0.076%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.67	−0.064%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.70	−0.039%	$326K	$385K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.57	−0.131%	$64.1M	$189.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.56	−0.138%	$61.5M	$67.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.56	−0.138%	$17.0M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.67	−0.061%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.478%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.72	−0.026%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.66	−0.068%	$24.6M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.65	−0.075%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.63	−0.089%	$29.1M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.61	−0.103%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.76	+0.002%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.26	−0.351%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.35	−0.285%	$448K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.36	−0.278%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.67	−0.061%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.59	−0.118%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.79	+0.023%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.91	+0.108%	$676K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.77	+0.009%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.55	−0.145%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.84	+0.058%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.63	−0.089%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0125%	1h	142.96	+0.142%	$396K	$727K	10x	as long as short
Hyperliquid AAVE	+0.0187%	1h	142.86	+0.072%	$78.1M	$36.9M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.73	−0.019%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0252% / S −0.0362%	1h	142.73	−0.022%	$111K	—	100x
RISEx AAVE/USDC	+0.0256%	1h	142.63	−0.091%	$192K	$274K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.23	−0.370%	$754K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.89	+0.095%	$3.4M	$2.1M	50x	as long as short