Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against Reya+0.210%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.210% dearer against Reya than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	145.76	0.0044	pay 0.0006% / 1h	25m 08s	—	—	20x
Short	Variational Omni AAVE	146.07	0.0100	get 0.0100% / 8h	25m 08s	$3.8M	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.210%Rate

Funding earned: $11.73
Price spread: +0.210% → 0.000%: $20.97
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $26.7
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	3.08 bp	doesn't fit	12.0 bp −$120	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
SoDEX AAVE-USD	−0.0058%	1h	145.82	+0.039%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	145.94	+0.122%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.81	+0.033%	$255K	$394K	50x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	145.76	−0.002%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.77	+0.005%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.79	+0.019%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.90	+0.096%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.84	+0.053%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.039%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0041%	8h	145.81	+0.033%	$30.0M	$25.9M	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	+0.0041%	8h	145.80	+0.026%	$66.4M	$186.2M	75x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	145.76	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0053%	8h	145.79	+0.019%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	145.76	−0.002%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0075%	8h	145.77	+0.005%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.82	+0.042%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.03	+0.181%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.75	−0.008%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.72	−0.033%	$802K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.94	+0.122%	$80.5M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.85	+0.057%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.78	+0.014%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.79	+0.019%	$62.2M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.75	−0.009%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	+0.211%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.79	+0.019%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.79	+0.019%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.75	−0.009%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.87	+0.074%	$347K	$745K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	146.07	+0.210%	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	146.08	+0.216%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.03	+0.185%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.07	+0.211%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.82	+0.039%	$127K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.81	+0.035%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.13	+0.251%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.79	+0.019%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.77	+0.004%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.81	+0.031%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	145.77	+0.005%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.83	+0.046%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.01	+0.170%	$786K	$3.0M	50x	as long as short