Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0287%/8h= +31.4% APRpaid last 24h +0.083%

Price spread now: GMX against Orderly−0.001%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	143.19	0.0075	pay 0.0075% / 8h	1h 55m	$18K	$10K	10x
Short	GMX AAVE/USD [AAVE-USDC]	143.19	L +0.0252% / S −0.0362%	get 0.0045% / 1h	55m 06s	$112K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $60.23
Price spread: −0.001% → 0.000%: −$0.14
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $42.09
Costs to cover: 0.180%
Break-even: 2.1 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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
dYdX AAVE-USD	0.0000%	1h	143.38	+0.133%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.27	+0.056%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.18	−0.007%	$218K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.21	+0.010%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.351%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.21	+0.012%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0058%	1h	143.28	+0.063%	$832K	$400K	10x	as long as short
Orderly PERP_AAVE_USDClong	+0.0075%	8h	143.19	long leg	$18K	$10K	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	143.27	+0.055%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.29	+0.070%	$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	143.32	+0.093%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.18	−0.005%	$64.5M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.20	+0.007%	$61.7M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.16	−0.021%	$17.1M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.33	+0.098%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.503%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.27	+0.056%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.22	+0.021%	$25.3M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.23	+0.028%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.20	+0.007%	$29.3M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.23	+0.028%	—	$43.7M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.31	+0.084%	$339K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.26	+0.049%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	+0.232%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.33	+0.097%	$453K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.40	+0.147%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.31	+0.084%	$142K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.21	+0.011%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.16	−0.021%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.57	+0.267%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.31	+0.084%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.12	−0.050%	$911K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.20	+0.007%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.73	+0.377%	$4K	$108K	10x	as long as short
01 Exchange AAVEUSD	+0.0160%	1h	143.28	+0.063%	$10K	$2K	5x	as long as short
Lighter AAVE	+0.0192%	1h	143.37	+0.129%	$4.5M	$2.4M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.18	−0.007%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0252% / S −0.0362%	1h	143.19	−0.001%	$112K	—	100x
RISEx AAVE/USDC	+0.0256%	1h	143.28	+0.060%	$196K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.40	+0.147%	$765K	$2.9M	50x	as long as short
Hyperliquid AAVE	+0.0313%	1h	143.39	+0.140%	$78.4M	$37.3M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0315%	1h	143.25	+0.042%	$3.4M	$2.1M	50x	as long as short