Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Nado against Pacifica−0.217%110s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.356% of the position

Long on Pacifica Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.357%+$36 · spread now −0.217%, 7d avg −0.039%

Together, before fees+0.351%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$35 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: Nado is 0.177% cheaper against Pacifica than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.039%. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AAVE	141.61	0.0100	pay 0.0013% / 1h	9m 42s	$320K	$363K	10x
Short	Nado AAVE-PERP	141.30	0.0100	get 0.0012% / 1h	9m 42s	$822K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Pacifica. 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 PacificabpFee NadobpOrdersPrice spread, now −0.217%Rate

Funding earned: $0
Price spread: −0.217% → −0.039%: −$17.75
Slippage, 4 orders: −$20.55
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.3
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Pacifica: live order book, 32 min ago; Nado: live order book, 32 min ago.

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 Pacifica live order book, 32 min ago	3.54 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 32 min ago	1.06 bp	8.1 bp −$8	14.6 bp −$146	doesn't fit	doesn't fit

AAVE on 42 exchanges

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
SoDEX AAVE-USD	−0.0137%	1h	141.39	−0.156%	$7K	$198K	10x	as long as short
01 Exchange AAVEUSD	−0.0088%	1h	141.38	−0.164%	$10K	$370	5x	as long as short
Bybit AAVEUSDT	−0.0001%	8h	141.58	−0.022%	$61.9M	$58.5M	75x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.57	−0.033%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.41	−0.142%	$47K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.41	−0.142%	$210K	$307K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.43	−0.128%	$79K	—	150x	as long as short
Phemex AAVEUSDT	+0.0013%	8h	141.41	−0.142%	$3.9M	$3.6M	50x	as long as short
Variational Omni AAVE	+0.0032%	8h	141.33	−0.202%	$3.6M	$737K	—	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.285%	$422	$51K	12x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	141.31	−0.215%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0078%	8h	141.35	−0.185%	$17K	$2K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0089%	8h	141.59	−0.015%	$16.2M	$51.8M	50x	as long as short
Lighter AAVE	+0.0096%	1h	141.80	+0.134%	$4.6M	$2.2M	10x	as long as short
Phoenix AAVE	+0.0097%	1h	141.66	+0.034%	$4K	$81K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.55	−0.044%	$13K	$444	20x	as long as short
Nado AAVE-PERPshort	+0.0100%	1h	141.30	−0.217%	$822K	$312K	10x
Hyperliquid AAVE	+0.0100%	1h	141.71	+0.069%	$77.8M	$27.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.59	−0.015%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVElong	+0.0100%	1h	141.61	long leg	$320K	$363K	10x
Binance AAVEUSDT	+0.0100%	8h	141.58	−0.022%	$64.0M	$157.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.51	−0.072%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.54	−0.051%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.58	−0.022%	$22.7M	$21.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.65	+0.027%	$10.4M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.54	−0.051%	$29.2M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.51	−0.072%	—	$34.6M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.52	−0.066%	$109K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.59	−0.014%	$448K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.58	−0.022%	$152K	$232K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.43	−0.128%	$133K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.33	−0.197%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.48	−0.095%	$636K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.53	−0.055%	$113K	$69K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.45	−0.114%	$911K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.40	−0.146%	$119K	—	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0112%	1h	141.56	−0.036%	$385K	$584K	10x	as long as short
RISEx AAVE/USDC	+0.0175%	1h	141.44	−0.122%	$171K	$228K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.43	−0.128%	$3.2M	$3.2M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0255% / S −0.0365%	1h	141.42	−0.135%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.68	+0.048%	$759K	$2.1M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0334%	1h	141.51	−0.070%	$3.4M	$1.7M	50x	as long as short