Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.020%

Price spread now: Nado against Orderly−0.197%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 Nado

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—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.197% cheaper against Orderly than usual: you would sell low and buy high (spread −0.197% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 12 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	144.45	0.0044	pay 0.0044% / 8h	6h 43m	$18K	$10K	10x
Short	Nado AAVE-PERP	144.16	0.0100	get 0.0012% / 1h	43m 43s	$801K	$430K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.197%Rate

Funding earned: $11.78
Price spread: −0.197% → 0.000%: −$19.73
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.95
Costs to cover: 0.130%
Break-even: 19.5 days

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 25 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 Orderly no order-book sample	—	—	—	—	—
Sell Nado live order book, 25 min ago	1.37 bp	8.3 bp −$8	14.5 bp −$145	doesn't fit	doesn't fit

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 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
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.60	+0.103%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	144.53	+0.055%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0027%	1h	144.43	−0.014%	$251K	$362K	50x	as long as short
ApeX Omni AAVEUSDT	−0.0009%	1h	144.47	+0.014%	$134K	$230K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.61	+0.113%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.15	−0.208%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.43	−0.017%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.68	+0.159%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.185%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0043%	8h	144.40	−0.035%	$27.5M	$24.7M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDClong	+0.0044%	8h	144.45	long leg	$18K	$10K	10x
Reya AAVERUSDPERP	+0.0044%	1h	144.16	−0.199%	—	—	20x	as long as short
Binance AAVEUSDT	+0.0044%	8h	144.50	+0.038%	$65.2M	$185.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	144.47	+0.014%	$17.5M	$66.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.50	+0.038%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.55	+0.067%	$185K	$232K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.64	+0.129%	$4.6M	$1.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.59	+0.097%	$14K	$4K	20x	as long as short
Nado AAVE-PERPshort	+0.0100%	1h	144.16	−0.197%	$801K	$430K	10x
Hyperliquid AAVE	+0.0100%	1h	144.73	+0.194%	$78.6M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.61	+0.111%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.54	+0.063%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.44	−0.007%	$61.8M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.52	+0.048%	$45K	$188K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	−0.007%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.45	0.000%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.44	−0.007%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.45	0.000%	$30.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.47	+0.014%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.64	+0.132%	$325K	$750K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	−0.116%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.38	−0.052%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.54	+0.064%	$456K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.25	−0.138%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.42	−0.023%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.49	+0.028%	$5K	$302K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.35	−0.069%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.51	+0.042%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.44	−0.008%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	144.53	+0.055%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.31	−0.096%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.57	+0.083%	$777K	$2.8M	50x	as long as short