Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.06 per $10,000 · paid last 24h —

Price spread now: Reya against Deribit+0.013%7-day average — · you sell dearer than you buy

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

Long on Deribit 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	143.89	0	get 0.0000% / 1h	42m 17s	$250K	$362K	50x
Short	Reya AAVERUSDPERP	143.91	0.0044	get 0.0006% / 1h	42m 17s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Deribit. 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 DeribitbpFee ReyabpOrdersPrice spread, now +0.013%Rate

Funding earned: $9.27
Price spread: +0.013% → 0.000%: $1.25
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2.48
Costs to cover: 0.130%
Break-even: 8.9 days

Slippage unknown: Deribit: live order book, 22 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 Deribit live order book, 22 min ago	6.54 bp	10.0 bp −$10	18.2 bp −$182	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
Kraken Futures PF_AAVEUSD	−0.0034%	1h	143.99	+0.073%	$3.4M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	143.94	+0.035%	$11K	$2K	5x	as long as short
ApeX Omni AAVEUSDT	−0.0009%	1h	144.47	+0.403%	$134K	$230K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.07	+0.125%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.94	+0.035%	$65K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	143.89	long leg	$250K	$362K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.94	+0.031%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.20	+0.215%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.816%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0044%	8h	143.98	+0.063%	$27.3M	$24.7M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.87	−0.014%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	143.91	+0.013%	—	—	20x
Binance AAVEUSDT	+0.0044%	8h	143.95	+0.042%	$65.0M	$185.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	144.01	+0.083%	$17.4M	$65.9M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.01	+0.082%	$184K	$232K	10x	as long as short
SoDEX AAVE-USD	+0.0091%	1h	143.90	+0.007%	$5K	$302K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.12	+0.161%	$4.6M	$1.4M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.92	+0.021%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.09	+0.139%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.97	+0.059%	$800K	$429K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.05	+0.111%	$78.2M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.95	+0.042%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.05	+0.111%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.01	+0.083%	$61.7M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.00	+0.076%	$45K	$188K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	+0.382%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.97	+0.056%	$7.7M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.01	+0.083%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.94	+0.035%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.02	+0.090%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.07	+0.125%	$324K	$750K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	+0.273%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.38	+0.337%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.19	+0.208%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.97	+0.056%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.93	+0.026%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.27	+0.267%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.98	+0.063%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.85	−0.028%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	144.53	+0.445%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	143.94	+0.035%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.64	+0.521%	$778K	$2.8M	50x	as long as short