Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.046%

Price spread now: Variational Omni against Nado−0.162%7-day average +0.006% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.162%, 7d avg +0.006%

Together, before fees−0.086%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.168% cheaper against Nado than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AAVE-PERP	144.25	0.0100	pay 0.0012% / 1h	10m 26s	$800K	$436K	10x
Short	Variational Omni AAVE	144.01	0.0100	get 0.0100% / 8h	2h 10m	$3.8M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.162%Rate

Funding earned: $0
Price spread: −0.162% → +0.006%: −$16.79
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$23.79
Costs to cover: 0.070%
Break-even: 2443873775178091.5 days

Slippage unknown: Nado: live order book, 13 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Nado live order book, 13 min ago	0.35 bp	7.5 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.08 bp	doesn't fit	12.8 bp −$128	doesn't fit	doesn't fit

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
Deribit AAVE_USDC-PERPETUAL	−0.0374%	1h	144.05	−0.135%	$253K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0153%	1h	144.05	−0.135%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0104%	1h	144.36	+0.080%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.39	+0.101%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.29	+0.035%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.05	−0.135%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.38	+0.096%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.18	−0.048%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.050%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.29	+0.034%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0048%	8h	144.28	+0.024%	$31.2M	$26.4M	200x	as long as short
Binance AAVEUSDT	+0.0049%	8h	144.30	+0.038%	$65.7M	$184.8M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.29	+0.031%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	144.32	+0.052%	$17.4M	$66.1M	50x	as long as short
Gate AAVE_USDT	+0.0060%	8h	144.31	+0.045%	$7.8M	$15.9M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	−0.187%	$60K	$3K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0079%	1h	144.26	+0.010%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0090%	8h	144.17	−0.052%	$451K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.41	+0.116%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.32	+0.051%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.34	+0.063%	$180K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.23	−0.011%	$13K	$4K	20x	as long as short
Nado AAVE-PERPlong	+0.0100%	1h	144.25	long leg	$800K	$436K	10x
Hyperliquid AAVE	+0.0100%	1h	144.44	+0.135%	$80.3M	$33.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.27	+0.018%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.26	+0.008%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.32	+0.052%	$61.4M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.29	+0.031%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.34	+0.066%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.32	+0.052%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.32	+0.052%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.27	+0.017%	$381K	$707K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	144.01	−0.162%	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	144.28	+0.022%	$101K	$315K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.40	+0.107%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.02	−0.158%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.39	+0.098%	$717K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.09	−0.107%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.23	−0.010%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0169%	8h	144.05	−0.135%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.51	+0.184%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.36	+0.082%	$124K	—	100x	as long as short