Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h —

Price spread now: Reya against Arcus−0.168%50s7-day average — · you buy dearer than you sell

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

Long on Arcus 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 airdropReya: 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 0.168% cheaper against Arcus than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus AAVE-USD	141.27	0.0100	pay 0.0013% / 1h	17m 43s	$91K	$221K	10x
Short	Reya AAVERUSDPERP	141.03	0.0044	get 0.0006% / 1h	17m 43s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Arcus. 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 ArcusbpFee ReyabpOrdersPrice spread, now −0.168%Rate

Funding earned: −$11.73
Price spread: −0.168% → 0.000%: −$16.79
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Reya: 3 bp × 2 orders: −$6
Net: −$39.02
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 20 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 Arcus live order book, 20 min ago	2.12 bp	8.6 bp −$9	19.9 bp −$199	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 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	141.19	−0.056%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.10	−0.120%	$45K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.16	−0.078%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.14	−0.092%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.051%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	141.03	−0.168%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0082%	8h	141.12	−0.106%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.36	+0.062%	$4.5M	$2.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.14	−0.091%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.02	−0.173%	$825K	$399K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.29	+0.014%	$77.1M	$37.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.20	−0.050%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.19	−0.059%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.16	−0.075%	$63.4M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.09	−0.127%	$60.7M	$69.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.12	−0.106%	$16.6M	$64.7M	50x	as long as short
Arcus AAVE-USDlong	+0.0100%	1h	141.27	long leg	$91K	$221K	10x
Gate AAVE_USDT	+0.0100%	8h	141.15	−0.085%	$8.0M	$16.6M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.13	−0.099%	$22.6M	$24.3M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.18	−0.064%	$10.3M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.13	−0.099%	$28.7M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.16	−0.078%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.89	−0.269%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.92	−0.250%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.02	−0.176%	$444K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.98	−0.205%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.13	−0.099%	$133K	$483K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.07	−0.144%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.15	−0.085%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.21	−0.040%	$667K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.15	−0.085%	$3.9M	$3.6M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.18	−0.064%	$163K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.08	−0.136%	$909K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	141.19	−0.057%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.17	−0.071%	$119K	$146	10x	as long as short
Phoenix AAVE	+0.0152%	1h	141.08	−0.134%	$5K	$98K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.21	−0.042%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.20	−0.053%	$189K	$292K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0250%	1h	141.27	0.000%	$384K	$732K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.13	−0.096%	$110K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.10	−0.120%	$751K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0271%	1h	141.26	−0.008%	$3.4M	$2.1M	50x	as long as short