Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h —

Price spread now: Nado against Reya−0.033%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Nado

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 · Nado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.033% cheaper against Reya than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 48 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	140.83	0.0044	pay 0.0006% / 1h	27m 45s	—	—	20x
Short	Nado AAVE-PERP	140.78	0.0100	get 0.0012% / 1h	27m 45s	$809K	$305K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Reya. 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 ReyabpFee NadobpOrdersPrice spread, now −0.033%Rate

Funding earned: $11.73
Price spread: −0.033% → 0.000%: −$3.33
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$4.6
Costs to cover: 0.130%
Break-even: 9.7 days

Slippage unknown: Reya: no order-book sample; Nado: 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 Nado live order book, 19 min ago	0.35 bp	7.3 bp −$7	13.8 bp −$138	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 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	−0.0102%	1h	140.89	+0.041%	$7K	$215K	10x	as long as short
01 Exchange AAVEUSD	−0.0072%	1h	140.95	+0.084%	$10K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0034%	1h	140.94	+0.077%	$207K	$304K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.84	+0.003%	$101K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.86	+0.020%	$51K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.93	+0.067%	$78K	—	150x	as long as short
Bybit AAVEUSDT	+0.0008%	8h	140.84	+0.006%	$60.7M	$58.8M	75x	as long as short
Phoenix AAVE	+0.0028%	1h	140.75	−0.058%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.749%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	140.83	long leg	—	—	20x

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAVE	+0.0082%	8h	140.61	−0.156%	$3.6M	$761K	—	as long as short
Phemex AAVEUSDT	+0.0083%	8h	140.92	+0.063%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0084%	8h	140.88	+0.034%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.08	+0.178%	$4.5M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.81	−0.015%	$13K	$444	20x	as long as short
Nado AAVE-PERPshort	+0.0100%	1h	140.78	−0.033%	$809K	$305K	10x
Hyperliquid AAVE	+0.0100%	1h	141.04	+0.148%	$77.6M	$28.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.96	+0.088%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.90	+0.050%	$343K	$307K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.89	+0.042%	$63.4M	$159.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.78	−0.037%	$16.3M	$51.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.04	+0.148%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.94	+0.077%	$8.1M	$13.6M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.90	+0.048%	$22.4M	$22.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.92	+0.063%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.89	+0.041%	$29.0M	$15.8M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.91	+0.055%	—	$6.5M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.62	−0.153%	$108K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.28	+0.318%	$447K	$3.1M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.68	−0.108%	$131K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.94	+0.077%	$133K	$365K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.88	+0.031%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.11	+0.195%	$639K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.19	+0.254%	$163K	$108K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.06	+0.162%	$385K	$594K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.82	−0.006%	$909K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.92	+0.063%	$119K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	140.97	+0.096%	$171K	$213K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.80	−0.023%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	140.86	+0.020%	$747K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	140.90	+0.049%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0308%	1h	140.99	+0.111%	$3.4M	$1.8M	50x	as long as short