Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0226%/8h= +24.8% APRnext payment +$0.28 per $10,000 · paid last 24h —

Price spread now: Kraken Futures against Reya+0.110%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Kraken Futures

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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.110% dearer against Reya than usual: you sell high and buy low: +$11 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	Reya AAVERUSDPERP	141.51	0.0044	pay 0.0006% / 1h	56m 41s	—	—	20x
Short	Kraken Futures PF_AAVEUSD	141.67	0.0270	get 0.0034% / 1h	56m 41s	$3.4M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.110%Rate

Funding earned: $47.5
Price spread: +0.110% → 0.000%: $10.97
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $42.47
Costs to cover: 0.160%
Break-even: 0.7 days

Slippage unknown: Reya: no order-book sample; Kraken Futures: 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 Reya no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 2 min ago	3.18 bp	15.0 bp −$15	19.6 bp −$196	150.1 bp −$15.0K	doesn't fit

Reya: 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	−0.0032%	1h	141.59	+0.056%	$214K	$398K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.54	+0.021%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.76	+0.176%	$51K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.61	+0.070%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.216%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	141.51	long leg	—	—	20x
Nado AAVE-PERP	+0.0081%	1h	141.50	−0.004%	$825K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0081%	8h	141.59	+0.056%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	141.74	+0.162%	$5K	$98K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.70	+0.133%	$4.5M	$2.4M	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	141.41	−0.072%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.69	+0.126%	$77.5M	$36.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.59	+0.054%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.54	+0.022%	$323K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.50	−0.008%	$63.4M	$189.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.45	−0.043%	$61.1M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.44	−0.050%	$16.9M	$63.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.54	+0.020%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.77	+0.179%	$160K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.57	+0.041%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.47	−0.029%	$24.1M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.55	+0.027%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.43	−0.057%	$28.9M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.47	−0.029%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.84	+0.232%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.75	+0.171%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.92	+0.292%	$443K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.95	+0.310%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.61	+0.070%	$140K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.59	+0.058%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.60	+0.063%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.80	+0.203%	$671K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.64	+0.091%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.49	−0.017%	$901K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	141.60	+0.063%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.62	+0.073%	$120K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0193%	1h	141.72	+0.147%	$389K	$728K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.61	+0.070%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.63	+0.087%	$187K	$276K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.62	+0.074%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.67	+0.112%	$751K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0270%	1h	141.67	+0.110%	$3.4M	$2.1M	50x