Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0282%/8h= −30.9% APRnext payment −$0.35 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures−0.067%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Reya is 0.067% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	141.88	0.0326	pay 0.0041% / 1h	38m 24s	$3.4M	$2.1M	50x
Short	Reya AAVERUSDPERP	141.78	0.0044	get 0.0006% / 1h	38m 24s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.067%Rate

Funding earned: −$59.22
Price spread: −0.067% → 0.000%: −$6.71
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$81.93
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago	5.27 bp	16.3 bp −$16	23.9 bp −$239	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
01 Exchange AAVEUSD	−0.0168%	1h	141.70	−0.125%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.69	−0.132%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.80	−0.054%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.85	−0.019%	$220K	$399K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.84	−0.026%	$79K	—	150x	as long as short
SoDEX AAVE-USD	+0.0023%	1h	141.74	−0.097%	$5K	$299K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.466%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	141.78	−0.067%	—	—	20x
Nado AAVE-PERP	+0.0045%	1h	141.78	−0.065%	$840K	$447K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.81	−0.047%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.05	+0.122%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.71	−0.115%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.65	−0.160%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.93	+0.037%	$76.5M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.68	−0.139%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.63	−0.171%	$324K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.80	−0.051%	$63.5M	$186.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.80	−0.054%	$60.7M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.80	−0.054%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.80	−0.054%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	+0.171%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.82	−0.040%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.81	−0.047%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.79	−0.061%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.71	−0.118%	$28.8M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.79	−0.061%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.68	−0.139%	$336K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.94	+0.043%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.18	+0.215%	$102K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.91	+0.020%	$445K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.90	+0.016%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.83	−0.033%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.74	−0.097%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.73	−0.102%	$682K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.65	−0.160%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.71	−0.118%	$892K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.85	−0.021%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.77	−0.078%	$176K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.96	+0.058%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.84	−0.026%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0326%	1h	141.88	long leg	$3.4M	$2.1M	50x
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.18	+0.213%	$788K	$2.9M	50x	as long as short