Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.008%

Price spread now: Orderly against dYdX−0.133%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 0.133% cheaper against dYdX than usual: you would sell low and buy high (spread −0.133% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 5.9 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	143.38	0	get 0.0000% / 1h	55m 24s	$102K	$4K	10x
Short	Orderly PERP_AAVE_USDC	143.19	0.0075	get 0.0075% / 8h	1h 55m	$18K	$10K	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 −0.133%Rate

Funding earned: $15.82
Price spread: −0.133% → 0.000%: −$13.3
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$13.48
Costs to cover: 0.160%
Break-even: 13.0 days

Slippage unknown: dYdX: live order book, 53 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, 53 min ago	69.02 bp	74.0 bp −$74	74.0 bp −$740	74.0 bp −$7,402	74.0 bp −$37.0K
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
dYdX AAVE-USDlong	0.0000%	1h	143.38	long leg	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	143.27	−0.077%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.30	−0.056%	$218K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.31	−0.051%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.478%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.21	−0.121%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0058%	1h	143.28	−0.070%	$832K	$400K	10x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0075%	8h	143.19	−0.133%	$18K	$10K	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	143.27	−0.078%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.29	−0.066%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.32	−0.040%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.21	−0.122%	$64.5M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.20	−0.126%	$61.7M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.15	−0.161%	$17.1M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.33	−0.035%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.369%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.22	−0.112%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.25	−0.091%	$25.3M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.28	−0.070%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.21	−0.119%	$29.3M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.22	−0.112%	—	$43.7M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.39	+0.007%	$340K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.26	−0.084%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	+0.099%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.33	−0.036%	$453K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.40	+0.013%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.31	−0.049%	$142K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.30	−0.059%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.27	−0.077%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.57	+0.131%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.33	−0.035%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.16	−0.155%	$911K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.35	−0.025%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.73	+0.244%	$4K	$108K	10x	as long as short
01 Exchange AAVEUSD	+0.0160%	1h	143.28	−0.070%	$10K	$2K	5x	as long as short
Lighter AAVE	+0.0192%	1h	143.49	+0.073%	$4.5M	$2.4M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.17	−0.147%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.19	−0.134%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	143.28	−0.073%	$196K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.40	+0.013%	$765K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0314%	1h	143.38	−0.004%	$3.4M	$2.1M	50x	as long as short
Hyperliquid AAVE	+0.0314%	1h	143.40	+0.013%	$78.4M	$37.3M	10x	as long as short