Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.027%

Price spread now: Phemex against Variational Omni+0.053%7-day average +0.036% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now +0.053%, 7d avg +0.036%

Together, before fees+0.175%+ Points / potential airdropVariational Omni: Active · farm board+$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	145.87	0.0100	pay 0.0100% / 8h	7h 35m	$3.8M	$1.3M	—
Short	Phemex AAVEUSDT	145.95	0.0100	get 0.0100% / 8h	7h 35m	$4.1M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.036%: $1.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$10.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Phemex: live order book, 4 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, 4 min ago	3.05 bp	doesn't fit	9.2 bp −$92	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.09 bp	13.1 bp −$13	21.0 bp −$210	doesn't fit	doesn't fit

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	−0.0184%	1h	146.09	+0.151%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.78	−0.063%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0106%	1h	145.97	+0.067%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.01	+0.094%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.91	+0.025%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.88	+0.005%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.87	−0.002%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.93	+0.041%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0021%	8h	145.96	+0.063%	$66.2M	$185.5M	75x	as long as short
MEXC AAVE_USDT	+0.0022%	8h	145.97	+0.067%	$29.1M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.110%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.77	−0.068%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0047%	8h	145.95	+0.053%	$18K	$10K	10x	as long as short
Gate AAVE_USDT	+0.0056%	8h	145.98	+0.074%	$7.9M	$15.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0062%	8h	145.93	+0.039%	$17.9M	$66.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0067%	1h	146.03	+0.108%	$136K	$230K	50x	as long as short
Bybit AAVEUSDT	+0.0069%	8h	145.95	+0.053%	$62.4M	$65.4M	75x	as long as short
GRVT AAVE_USDT_Perp	+0.0069%	8h	145.92	+0.033%	$462K	$3.9M	10x	as long as short
BloFin AAVE-USDT	+0.0085%	8h	145.81	−0.043%	$3.5M	$4.0M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.97	+0.070%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.16	+0.197%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.85	−0.013%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.79	−0.056%	$797K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.08	+0.142%	$79.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.92	+0.034%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.86	−0.008%	$333K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.83	−0.029%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.72	−0.104%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.97	+0.067%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.91	+0.026%	$30.3M	$18.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.96	+0.060%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.07	+0.135%	$333K	$741K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	145.87	long leg	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	145.87	0.000%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.87	−0.002%	$128K	$427K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.81	−0.046%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.13	+0.175%	$710K	$5.2M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	145.95	+0.053%	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	145.93	+0.040%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.86	−0.012%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	145.92	+0.034%	$127K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.14	+0.183%	$786K	$3.1M	50x	as long as short