Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0490%/8h= −53.7% APRnext payment −$0.61 per $10,000 · paid last 24h —

Price spread now: Deribit against Reya+0.043%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.043% dearer against Reya than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	143.58	0.0044	pay 0.0006% / 1h	59m 37s	—	—	20x
Short	Deribit AAVE_USDC-PERPETUAL	143.64	−0.0446	pay 0.0056% / 1h	59m 37s	$252K	$489K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Reya. 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 ReyabpFee DeribitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$102.93
Price spread: +0.043% → 0.000%: $4.28
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$111.65
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Deribit: live order book, 19 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 Reya no order-book sample	—	—	—	—	—
Sell Deribit live order book, 19 min ago	4.51 bp	8.0 bp −$8	15.2 bp −$152	doesn't fit	doesn't fit

Reya: 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
Deribit AAVE_USDC-PERPETUALshort	−0.0446%	1h	143.64	+0.043%	$252K	$489K	50x
01 Exchange AAVEUSD	−0.0256%	1h	143.63	+0.036%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0161%	1h	143.56	−0.013%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0044%	1h	143.51	−0.048%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.63	+0.039%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.69	+0.078%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.68	+0.073%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.69	+0.081%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.610%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	143.54	−0.027%	$31.0M	$25.6M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0043%	8h	143.78	+0.140%	$65.3M	$185.4M	75x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	143.58	long leg	—	—	20x
RISEx AAVE/USDC	+0.0046%	1h	143.68	+0.070%	$179K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.58	+0.001%	$18K	$12K	10x	as long as short
Bulk AAVE-USD	+0.0049%	1h	143.56	−0.013%	$60K	$3K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	143.56	−0.013%	$17.3M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0056%	1h	143.58	+0.001%	$133K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0061%	8h	143.57	−0.006%	$7.7M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	143.63	+0.035%	$121K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0089%	8h	143.62	+0.029%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.74	+0.114%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.52	−0.043%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.47	−0.076%	$794K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.66	+0.054%	$78.8M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.59	+0.005%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.56	−0.011%	$327K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.76	+0.126%	$61.0M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.62	+0.029%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.55	−0.020%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.53	−0.034%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.55	−0.020%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.69	+0.078%	$379K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.65	+0.049%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.53	−0.031%	$101K	$315K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.53	−0.034%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.57	−0.003%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.70	+0.085%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.60	+0.015%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.52	−0.044%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0164%	8h	143.64	+0.043%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.80	+0.154%	$772K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.68	+0.067%	$123K	—	100x	as long as short