Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.007%

Price spread now: gTrade (Gains Network) against Orderly+0.042%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.042% dearer against Orderly than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	143.94	0.0044	pay 0.0044% / 8h	5h 55m	$18K	$10K	10x
Short	gTrade (Gains Network) AAVE/USD	144.00	L +0.0005% / S −0.0004%	get 0.0000% / 1h	55m 15s	$70K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Orderly. 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 OrderlybpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.042%Rate

Funding earned: −$8.5
Price spread: +0.042% → 0.000%: $4.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$20.33
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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
ApeX Omni AAVEUSDT	−0.0648%	1h	143.72	−0.153%	$134K	$219K	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0167%	1h	143.93	−0.007%	$244K	$370K	50x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	144.02	+0.056%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.11	+0.120%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.12	+0.125%	$72K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USDshort	L +0.0005% / S −0.0004%	1h	144.00	+0.042%	$70K	—	150x
Phoenix AAVE	+0.0006%	1h	144.59	+0.452%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.849%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.92	−0.016%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0044%	8h	143.94	long leg	$18K	$10K	10x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AAVE-USDT-SWAP	+0.0088%	8h	144.09	+0.104%	$17.3M	$63.5M	50x	as long as short
MEXC AAVE_USDT	+0.0092%	8h	144.07	+0.090%	$26.4M	$23.4M	200x	as long as short
Binance AAVEUSDT	+0.0093%	8h	144.05	+0.076%	$65.0M	$181.0M	75x	as long as short
Lighter AAVE	+0.0096%	1h	144.24	+0.210%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.11	+0.115%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.96	+0.014%	$801K	$409K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.11	+0.118%	$78.0M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.06	+0.083%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.15	+0.145%	$329K	$433K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.06	+0.083%	$61.6M	$63.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.06	+0.083%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.04	+0.073%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.00	+0.042%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.04	+0.069%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.92	−0.014%	$29.9M	$17.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.99	+0.035%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.49	+0.382%	$323K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.60	+0.459%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.85	−0.064%	$104K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.82	−0.082%	$451K	$3.8M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.03	+0.063%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.94	+0.003%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.97	+0.021%	$5K	$291K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.28	+0.234%	$698K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.10	+0.111%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.90	−0.025%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.98	+0.027%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.10	+0.113%	$199K	$228K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0258% / S −0.0409%	1h	144.00	+0.040%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.10	+0.112%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.56	+0.431%	$777K	$2.8M	50x	as long as short