Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h —

Price spread now: SunX against Reya−0.042%7-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 SunX

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. SunX is 0.042% cheaper against Reya than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	144.75	0.0044	pay 0.0006% / 1h	1m 03s	—	—	20x
Short	SunX AAVE-USDT	144.69	0.0100	get 0.0100% / 8h	7h 01m	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.042%Rate

Funding earned: $11.73
Price spread: −0.042% → 0.000%: −$4.18
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$6.45
Costs to cover: 0.140%
Break-even: 10.8 days

Slippage unknown: Reya: no order-book sample; SunX: live order book, 3 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 SunX live order book, 3 min ago	79.87 bp	101.6 bp −$102	doesn't fit	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
Kraken Futures PF_AAVEUSD	−0.0186%	1h	144.72	−0.015%	$3.5M	$2.0M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0164%	1h	144.71	−0.025%	$252K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.69	−0.039%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0036%	1h	144.61	−0.094%	$5K	$302K	10x	as long as short
ApeX Omni AAVEUSDT	−0.0014%	1h	145.08	+0.230%	$135K	$231K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.00	+0.175%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.74	−0.004%	$65K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.14	+0.272%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.80	+0.034%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0030%	8h	144.63	−0.080%	$28.1M	$26.2M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0030%	8h	144.69	−0.039%	$65.3M	$183.9M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.379%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.71	−0.025%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	144.75	long leg	—	—	20x
OKX AAVE-USDT-SWAP	+0.0063%	8h	144.60	−0.101%	$17.5M	$65.7M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.71	−0.029%	$122K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.84	+0.066%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.83	+0.057%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.72	−0.015%	$794K	$424K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.74	−0.004%	$78.7M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.63	−0.081%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.92	+0.123%	$331K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.63	−0.080%	$61.9M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.79	+0.030%	$45K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.63	−0.080%	$7.8M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.64	−0.074%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.63	−0.080%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.65	−0.067%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.72	−0.018%	$331K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	−0.039%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.23	+0.333%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.47	+0.501%	$454K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.82	+0.051%	$126K	$417K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	144.69	−0.042%	$2K	$1.3M	20x
HTX AAVE-USDT	+0.0100%	8h	145.01	+0.184%	$704K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.67	−0.053%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+1.059%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.64	−0.075%	$929K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	144.72	−0.016%	$183K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0121%	8h	144.75	+0.002%	$3.5M	$3.4M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.78	+0.022%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.79	+0.030%	$775K	$2.9M	50x	as long as short