Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h −0.022%

Price spread now: Orderly against Extended+0.234%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.234% dearer against Extended than usual: you sell high and buy low (spread +0.234% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AAVE-USD	144.57	0.0104	pay 0.0013% / 1h	21m 53s	$922K	$1.7M	50x
Short	Orderly PERP_AAVE_USDC	144.91	0.0044	get 0.0044% / 8h	6h 21m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.234%Rate

Funding earned: −$12.56
Price spread: +0.234% → 0.000%: $23.4
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$0.15
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Extended: live order book, 2 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 Extended live order book, 2 min ago	2.42 bp	6.1 bp −$6	20.3 bp −$203	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 41 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	−0.0048%	1h	144.94	+0.255%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.93	+0.248%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.93	+0.247%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.83	+0.179%	$71K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.86	+0.199%	$246K	$363K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.91	+0.236%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.65	+0.054%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.265%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.93	+0.249%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0044%	8h	144.91	+0.234%	$18K	$10K	10x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0061%	8h	144.69	+0.082%	$26.9M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0061%	8h	144.67	+0.065%	$65.3M	$184.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0077%	8h	144.62	+0.033%	$17.4M	$65.3M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	145.00	+0.299%	$201K	$230K	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.04	+0.321%	$4.7M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.92	+0.238%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.99	+0.289%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.96	+0.269%	$806K	$425K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.93	+0.248%	$78.5M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.84	+0.187%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.96	+0.272%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.66	+0.061%	$61.9M	$64.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.99	+0.289%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	−0.089%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.67	+0.068%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.69	+0.082%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.70	+0.089%	$30.1M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.65	+0.054%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.91	+0.234%	$323K	$746K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.74	+0.117%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.51	−0.040%	$104K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.84	+0.188%	$464K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.79	+0.151%	$135K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.01	+0.303%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.00	+0.293%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.84	+0.186%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.08	+0.354%	$703K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.83	+0.179%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USDlong	+0.0104%	1h	144.57	long leg	$922K	$1.7M	50x
GMX AAVE/USD [AAVE-USDC]	L +0.0242% / S −0.0372%	1h	144.92	+0.241%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.56	−0.008%	$775K	$2.8M	50x	as long as short