Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: dYdX against Variational Omni−0.335%7-day average +0.035% · you buy dearer than you sell

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.224%+$22 · spread now −0.335%, 7d avg +0.035%

Together, before fees+0.195%+ Points / potential airdropVariational Omni: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.370% cheaper against Variational Omni than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	142.78	0.0100	pay 0.0100% / 8h	2h 33m	$3.7M	$1.3M	—
Short	dYdX AAVE-USD	142.30	0	get 0.0000% / 1h	33m 26s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. 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 Variational OmnibpFee dYdXbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$21
Price spread: −0.335% → +0.035%: −$37.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$68.01
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; dYdX: live order book, 15 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 Variational Omni RFQ quote, 1 min ago	3.09 bp	doesn't fit	12.3 bp −$123	doesn't fit	doesn't fit
Sell dYdX live order book, 15 min ago	69.02 bp	74.0 bp −$74	138.9 bp −$1,389	160.4 bp −$16.0K	223.4 bp −$111.7K

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	−0.2629%	1h	142.00	−0.548%	$216K	$394K	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	142.30	−0.335%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	142.48	−0.212%	$55K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.32	−0.321%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0015%	1h	142.25	−0.370%	$828K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.078%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.28	−0.353%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0066%	8h	142.40	−0.268%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0077%	8h	142.39	−0.275%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	142.39	−0.275%	$10K	$2K	5x	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	142.25	−0.375%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.41	−0.264%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.34	−0.310%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.32	−0.323%	$63.5M	$189.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.31	−0.331%	$61.0M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.31	−0.331%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.52	−0.184%	$63K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	−0.182%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.30	−0.338%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.32	−0.324%	$25.2M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.33	−0.317%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.35	−0.303%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.29	−0.345%	—	$6.5M	—	as long as short
Variational Omni AAVElong	+0.0100%	8h	142.78	long leg	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	143.11	+0.229%	$106K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.72	−0.044%	$447K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.17	+0.271%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.40	−0.268%	$136K	$462K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.49	−0.204%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.38	−0.282%	$5K	$313K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.025%	$682K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.29	−0.347%	$905K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.41	−0.262%	$120K	$146	10x	as long as short
Hyperliquid AAVE	+0.0113%	1h	142.46	−0.226%	$77.9M	$37.1M	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.85	+0.047%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0146%	1h	142.49	−0.205%	$334K	$728K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.49	−0.206%	$188K	$252K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.22	+0.306%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.48	−0.211%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.32	−0.326%	$111K	—	100x	as long as short
Lighter AAVE	+0.0312%	1h	142.50	−0.199%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.78	−0.002%	$774K	$2.8M	50x	as long as short