Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h +0.023%

Price spread now: Orderly against SoDEX−0.021%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.021% cheaper against SoDEX than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	143.75	0.0100	pay 0.0013% / 1h	45m 15s	$5K	$316K	10x
Short	Orderly PERP_AAVE_USDC	143.72	0.0053	get 0.0053% / 8h	3h 45m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against SoDEX. 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 SoDEXbpFee OrderlybpOrdersPrice spread, now −0.021%Rate

Funding earned: −$9.86
Price spread: −0.021% → 0.000%: −$2.09
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.95
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 8 min ago; Orderly: 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 SoDEX live order book, 8 min ago	0.35 bp	5.2 bp −$5	10.6 bp −$106	98.8 bp −$9,883	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	143.60	−0.107%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.62	−0.090%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.75	0.000%	$220K	$397K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.71	−0.029%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.723%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.92	+0.118%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0041%	1h	143.56	−0.132%	$845K	$395K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.55	−0.141%	—	—	20x	as long as short
Phemex AAVEUSDT	+0.0047%	8h	143.67	−0.056%	$4.0M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0053%	8h	143.72	−0.021%	$18K	$10K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.71	−0.029%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.56	−0.133%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.59	−0.111%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.57	−0.124%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.70	−0.035%	$64.3M	$187.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.70	−0.035%	$61.8M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.74	−0.007%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.65	−0.070%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	+0.042%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.68	−0.049%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.60	−0.104%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.59	−0.111%	$10.6M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.64	−0.077%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.68	−0.049%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	−0.063%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.70	−0.036%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.62	−0.087%	$456K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.78	+0.021%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.66	−0.063%	$132K	$448K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.54	−0.148%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USDlong	+0.0100%	1h	143.75	long leg	$5K	$316K	10x
HTX AAVE-USDT	+0.0100%	8h	143.76	+0.008%	$691K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.70	−0.035%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.78	+0.019%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	143.62	−0.090%	$10K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.61	−0.097%	$186K	$251K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0132%	1h	143.80	+0.035%	$338K	$720K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.53	−0.153%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	143.79	+0.026%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.70	−0.032%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.79	+0.028%	$788K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0385%	1h	143.78	+0.021%	$79.1M	$36.7M	10x	as long as short