Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.007%

Price spread now: Orderly against dYdX−0.150%7-day average — · you buy dearer than you sell

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

Long on dYdX 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

Funding pays, the price is against you. Orderly is 0.150% cheaper against dYdX than usual: you would sell low and buy high (spread −0.150% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 9.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	145.64	0	get 0.0000% / 1h	55m 06s	$104K	$5K	10x
Short	Orderly PERP_AAVE_USDC	145.42	0.0051	get 0.0051% / 8h	7h 55m	$18K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now −0.150%Rate

Funding earned: $10.79
Price spread: −0.150% → 0.000%: −$14.98
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$20.19
Costs to cover: 0.160%
Break-even: 20.1 days

Slippage unknown: dYdX: live order book, 19 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 dYdX live order book, 19 min ago	67.60 bp	73.3 bp −$73	73.3 bp −$733	75.0 bp −$7,503	83.4 bp −$41.7K
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
ApeX Omni AAVEUSDT	−0.0529%	1h	145.50	−0.095%	$135K	$229K	50x	as long as short
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.58	−0.040%	$3.5M	$2.1M	50x	as long as short
Phemex AAVEUSDT	−0.0170%	8h	145.61	−0.019%	$4.1M	$3.8M	50x	as long as short
Gate AAVE_USDT	−0.0109%	8h	145.53	−0.074%	$7.8M	$15.2M	75x	as long as short
01 Exchange AAVEUSD	−0.0104%	1h	145.32	−0.218%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0094%	1h	145.45	−0.129%	$254K	$391K	50x	as long as short
Bybit AAVEUSDT	−0.0046%	8h	145.51	−0.088%	$62.1M	$66.1M	75x	as long as short
Phoenix AAVE	−0.0027%	1h	145.79	+0.104%	$5K	$102K	10x	as long as short
GRVT AAVE_USDT_Perp	−0.0027%	8h	145.42	−0.149%	$456K	$3.9M	10x	as long as short
SoDEX AAVE-USD	−0.0025%	1h	145.45	−0.129%	$5K	$305K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX AAVE-USDlong	0.0000%	1h	145.64	long leg	$104K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	145.72	+0.056%	$77K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.49	−0.105%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0025%	8h	145.51	−0.088%	$29.3M	$25.6M	200x	as long as short
Binance AAVEUSDT	+0.0026%	8h	145.55	−0.061%	$66.1M	$187.7M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.959%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.37	−0.181%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0051%	8h	145.42	−0.150%	$18K	$12K	10x
OKX AAVE-USDT-SWAP	+0.0065%	8h	145.55	−0.061%	$17.8M	$67.2M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.69	+0.034%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.66	+0.018%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.46	−0.121%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.38	−0.177%	$795K	$449K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.66	+0.015%	$79.5M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.54	−0.067%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.62	−0.014%	$332K	$504K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.43	−0.143%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.52	−0.078%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.45	−0.129%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.49	−0.102%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.52	−0.081%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.63	−0.006%	$348K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.84	+0.135%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.42	−0.149%	$105K	$316K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.47	−0.115%	$127K	$454K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.41	−0.159%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.53	−0.071%	$685K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.38	−0.179%	$934K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0105%	8h	145.45	−0.129%	$3.5M	$4.1M	100x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.45	−0.127%	$184K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.48	−0.110%	$127K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.64	+0.001%	$780K	$3.1M	50x	as long as short