Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h —

Price spread now: Reya against Bybit−0.032%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 0.032% cheaper against Bybit than usual: you would sell low and buy high (−$3 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	Bybit AAVEUSDT	143.18	0.0100	pay 0.0100% / 8h	5h 07m	$61.2M	$64.3M	75x
Short	Reya AAVERUSDPERP	143.13	0.0044	get 0.0006% / 1h	7m 13s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bybit. 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 BybitbpFee ReyabpOrdersPrice spread, now −0.032%Rate

Funding earned: −$11.73
Price spread: −0.032% → 0.000%: −$3.22
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: −$31.95
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 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 Bybit live order book, 2 min ago	0.35 bp	7.7 bp −$8	15.5 bp −$155	68.3 bp −$6,833	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
01 Exchange AAVEUSD	−0.0056%	1h	143.21	+0.021%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.27	+0.064%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.29	+0.077%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.19	+0.007%	$227K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.24	+0.045%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.344%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	143.13	−0.032%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0046%	8h	143.21	+0.021%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0061%	1h	143.21	+0.021%	$827K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.75	+0.398%	$5K	$98K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.35	+0.122%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.28	+0.067%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.25	+0.049%	$77.5M	$34.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.24	+0.039%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.28	+0.067%	$326K	$434K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.17	−0.009%	$64.1M	$182.6M	75x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	143.18	long leg	$61.2M	$64.3M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.16	−0.014%	$17.1M	$63.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.24	+0.042%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.625%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.21	+0.021%	$7.9M	$15.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.17	−0.007%	$25.8M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.22	+0.028%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.18	0.000%	$30.0M	$17.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.19	+0.007%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.25	+0.049%	$319K	$692K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	+0.333%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.38	+0.140%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.38	+0.137%	$448K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.44	+0.182%	$133K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.20	+0.014%	$127K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.19	+0.008%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.17	−0.007%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.39	+0.147%	$690K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.23	+0.035%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.13	−0.037%	$914K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.20	+0.010%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.26	+0.054%	$184K	$237K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.11	−0.049%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.21	+0.024%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0268%	1h	143.29	+0.074%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.93	+0.524%	$782K	$2.8M	50x	as long as short