Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h −0.020%

Price spread now: Orderly against Aevo−0.022%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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 −$2 a day on $10k at the current rate, and Orderly is 0.022% cheaper against Aevo 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	Aevo AAVE-PERP	142.05	0.0104	pay 0.0013% / 1h	41m 34s	$120K	$146	10x
Short	Orderly PERP_AAVE_USDC	142.02	0.0046	get 0.0046% / 8h	4h 41m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aevo. 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 AevobpFee OrderlybpOrdersPrice spread, now −0.022%Rate

Funding earned: −$12.11
Price spread: −0.022% → 0.000%: −$2.16
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$36.27
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 17 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 Aevo live order book, 17 min ago	42.45 bp	60.1 bp −$60	269.4 bp −$2,694	doesn't fit	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
01 Exchange AAVEUSD	−0.0168%	1h	141.90	−0.106%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.99	−0.039%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.96	−0.064%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.02	−0.022%	$220K	$399K	50x	as long as short
SoDEX AAVE-USD	+0.0002%	1h	142.02	−0.022%	$5K	$299K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.05	+0.002%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.584%	$422	$51K	12x	as long as short
Nado AAVE-PERP	+0.0043%	1h	141.89	−0.110%	$841K	$447K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.88	−0.120%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0046%	8h	142.02	−0.022%	$18K	$10K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.04	−0.008%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.97	−0.057%	$4.5M	$1.9M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.88	−0.119%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.05	0.000%	$76.6M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.04	−0.006%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.94	−0.078%	$323K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.92	−0.092%	$63.4M	$185.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.90	−0.106%	$60.7M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.91	−0.099%	$17.0M	$63.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.01	−0.029%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	+0.049%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.92	−0.092%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.91	−0.099%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.92	−0.092%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.82	−0.162%	$28.9M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.89	−0.113%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.07	+0.014%	$337K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.05	−0.001%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.18	+0.093%	$102K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.11	+0.042%	$449K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.11	+0.042%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.94	−0.078%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.94	−0.079%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.10	+0.032%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.97	−0.057%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.84	−0.150%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERPlong	+0.0104%	1h	142.05	long leg	$120K	$146	10x
RISEx AAVE/USDC	+0.0136%	1h	141.95	−0.071%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.12	+0.049%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.04	−0.007%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	142.12	+0.046%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.20	+0.105%	$783K	$2.8M	50x	as long as short