Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.00 per $10,000 · paid last 24h —

Price spread now: Nado against Reya+0.002%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 Nado

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 · Nado: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	141.78	0.0044	pay 0.0006% / 1h	38m 07s	—	—	20x
Short	Nado AAVE-PERP	141.78	0.0045	get 0.0006% / 1h	38m 07s	$840K	$447K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.002%Rate

Funding earned: $0.18
Price spread: +0.002% → 0.000%: $0.21
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$12.6
Costs to cover: 0.130%
Break-even: 495.2 days

Slippage unknown: Reya: no order-book sample; Nado: live order book, 20 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 Nado live order book, 20 min ago	1.76 bp	10.1 bp −$10	17.1 bp −$171	doesn't fit	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
01 Exchange AAVEUSD	−0.0168%	1h	141.70	−0.058%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.69	−0.065%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.66	−0.086%	$43K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.85	+0.048%	$220K	$399K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.84	+0.041%	$79K	—	150x	as long as short
SoDEX AAVE-USD	+0.0023%	1h	141.74	−0.030%	$5K	$299K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.401%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	141.78	long leg	—	—	20x
Nado AAVE-PERPshort	+0.0045%	1h	141.78	+0.002%	$840K	$447K	10x
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.81	+0.020%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.05	+0.189%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.76	−0.016%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.65	−0.093%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.73	−0.037%	$76.4M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.82	+0.027%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.63	−0.104%	$324K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.74	−0.032%	$63.4M	$186.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.62	−0.114%	$60.6M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.62	−0.114%	$17.0M	$63.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.80	+0.013%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	+0.238%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.67	−0.079%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.64	−0.100%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.79	+0.006%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.56	−0.157%	$28.8M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.64	−0.100%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.76	−0.015%	$336K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.94	+0.111%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.18	+0.282%	$102K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.91	+0.087%	$445K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.90	+0.083%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.83	+0.034%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.74	−0.030%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.77	−0.011%	$682K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.79	+0.006%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.71	−0.051%	$892K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.85	+0.046%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.77	−0.011%	$176K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.96	+0.126%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.84	+0.041%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	141.88	+0.067%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.18	+0.281%	$788K	$2.9M	50x	as long as short