Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.022%

Price spread now: Orderly against edgeX−0.190%71s7-day average — · you buy dearer than you sell

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

Long on edgeX 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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.190% cheaper against edgeX than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 71 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	edgeX AAVEUSDC	143.81	0.0100	pay 0.0050% / 4h	1h 57m	$107K	$283K	20x
Short	Orderly PERP_AAVE_USDC	143.54	0.0075	get 0.0075% / 8h	1h 57m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against edgeX. 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 edgeXbpFee OrderlybpOrdersPrice spread, now −0.190%Rate

Funding earned: −$5.27
Price spread: −0.190% → 0.000%: −$18.97
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$39.24
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 50 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 edgeX live order book, 50 min ago	3.49 bp	8.2 bp −$8	11.6 bp −$116	doesn't fit	doesn't fit
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
Nado AAVE-PERP	−0.0055%	1h	143.62	−0.138%	$834K	$400K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.66	−0.109%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.62	−0.134%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.53	−0.197%	$218K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.57	−0.165%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.765%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.62	−0.133%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0075%	8h	143.54	−0.190%	$18K	$10K	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	143.61	−0.142%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.58	−0.160%	$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	143.71	−0.075%	$328K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.44	−0.259%	$64.5M	$191.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.51	−0.211%	$61.8M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.49	−0.224%	$17.3M	$65.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.86	+0.033%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.068%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.52	−0.204%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.52	−0.204%	$25.0M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.56	−0.176%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.50	−0.218%	$29.3M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.53	−0.197%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.75	−0.045%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDClong	+0.0100%	4h	143.81	long leg	$107K	$283K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.87	+0.040%	$455K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.88	+0.047%	$134K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.78	−0.023%	$142K	$469K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.52	−0.206%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.51	−0.211%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.60	−0.151%	$682K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.56	−0.176%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.46	−0.243%	$915K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.54	−0.186%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	144.03	+0.151%	$4K	$105K	10x	as long as short
01 Exchange AAVEUSD	+0.0152%	1h	143.83	+0.012%	$11K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0172%	1h	143.61	−0.141%	$341K	$727K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.57	−0.169%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.61	−0.142%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	143.82	+0.005%	$197K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.68	−0.092%	$767K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0314%	1h	143.60	−0.148%	$3.4M	$2.1M	50x	as long as short
Lighter AAVE	+0.0320%	1h	143.61	−0.142%	$4.5M	$2.4M	10x	as long as short
Hyperliquid AAVE	+0.0352%	1h	143.69	−0.085%	$78.5M	$37.3M	10x	as long as short