Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h —

Price spread now: Reya against Variational Omni−0.080%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Reya

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 airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.080% cheaper against Variational Omni than usual: you would sell low and buy high (−$8 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	Variational Omni AAVE	141.67	0.0100	pay 0.0100% / 8h	5h 54m	$3.7M	$692K	—
Short	Reya AAVERUSDPERP	141.56	0.0044	get 0.0006% / 1h	54m 11s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpOrdersPrice spread, now −0.080%Rate

Funding earned: −$11.69
Price spread: −0.080% → 0.000%: −$7.99
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$25.68
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Reya: 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 Variational Omni RFQ quote, 3 min ago	3.10 bp	doesn't fit	11.4 bp −$114	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0174%	1h	141.59	−0.056%	$208K	$323K	50x	as long as short
SoDEX AAVE-USD	−0.0169%	1h	141.55	−0.084%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.61	−0.042%	$102K	$6K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	141.62	−0.034%	$10K	$1K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.61	−0.042%	$45K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.60	−0.048%	$79K	—	150x	as long as short
Bybit AAVEUSDT	+0.0020%	8h	141.52	−0.105%	$61.2M	$59.8M	75x	as long as short
Phemex AAVEUSDT	+0.0023%	8h	141.50	−0.119%	$3.9M	$3.6M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.324%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	141.82	+0.107%	$132K	$221K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERPshort	+0.0044%	1h	141.56	−0.080%	—	—	20x
Phoenix AAVE	+0.0062%	1h	141.94	+0.191%	$4K	$81K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.54	−0.091%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.75	+0.057%	$4.6M	$2.2M	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	141.67	long leg	$3.7M	$692K	—
Paradex AAVE-USD-PERP	+0.0100%	8h	141.56	−0.078%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.59	−0.059%	$814K	$309K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.71	+0.029%	$77.8M	$27.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.65	−0.011%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.63	−0.030%	$345K	$312K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.53	−0.096%	$63.7M	$162.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.54	−0.091%	$16.3M	$52.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.73	+0.043%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.58	−0.063%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.55	−0.084%	$21.9M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.62	−0.034%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.53	−0.098%	$29.2M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.56	−0.077%	—	$43.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.69	+0.015%	$388K	$601K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.78	+0.078%	$109K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.84	+0.121%	$453K	$3.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.64	−0.020%	$134K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.59	−0.054%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.09	+0.299%	$659K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.78	+0.078%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.51	−0.112%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.57	−0.066%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.66	−0.009%	$172K	$206K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.69	+0.015%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	141.87	+0.142%	$752K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.59	−0.053%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.66	−0.005%	$3.5M	$1.9M	50x	as long as short