Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0068%/8h= −7.5% APRnext payment −$0.09 per $10,000 · paid last 24h —

Price spread now: Reya against RISEx−0.095%69s7-day average — · you buy dearer than you sell

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

Long on RISEx Short on Reya

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.095% cheaper against RISEx than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 69 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	RISEx AAVE/USDC	140.84	0.0112	pay 0.0014% / 1h	3m 05s	$180K	$227K	10x
Short	Reya AAVERUSDPERP	140.71	0.0044	get 0.0006% / 1h	3m 05s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against RISEx. 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 RISExbpFee ReyabpOrdersPrice spread, now −0.095%Rate

Funding earned: −$14.32
Price spread: −0.095% → 0.000%: −$9.5
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: −$35.82
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 43 min ago; Reya: no order-book sample. 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 RISEx live order book, 43 min ago	1.27 bp	4.3 bp −$4	8.7 bp −$87	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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
01 Exchange AAVEUSD	−0.0032%	1h	140.85	+0.006%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0012%	1h	140.75	−0.065%	$7K	$216K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.77	−0.047%	$101K	$6K	10x	as long as short
Bybit AAVEUSDT	0.0000%	8h	140.77	−0.051%	$60.8M	$58.9M	75x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.82	−0.015%	$41K	$1.3M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.78	−0.044%	$207K	$304K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.79	−0.034%	$78K	—	150x	as long as short
Phoenix AAVE	+0.0028%	1h	140.77	−0.051%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.756%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	140.71	−0.095%	—	—	20x

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAVE	+0.0065%	8h	140.68	−0.116%	$3.6M	$758K	—	as long as short
Phemex AAVEUSDT	+0.0073%	8h	140.82	−0.015%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0084%	8h	140.78	−0.044%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	140.94	+0.066%	$4.5M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.78	−0.042%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.75	−0.065%	$810K	$305K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.95	+0.077%	$77.5M	$27.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.83	−0.009%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.82	−0.015%	$343K	$299K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.77	−0.051%	$63.5M	$158.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.78	−0.044%	$16.2M	$51.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.95	+0.077%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.76	−0.058%	$8.1M	$13.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.82	−0.015%	$22.3M	$22.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.80	−0.029%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.82	−0.015%	$29.1M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.76	−0.058%	—	$34.6M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.61	−0.165%	$108K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.67	−0.122%	$444K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.70	−0.100%	$131K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.87	+0.020%	$132K	$367K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.76	−0.060%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.16	+0.230%	$637K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	140.73	−0.080%	$165K	$20K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.74	−0.070%	$912K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.82	−0.013%	$119K	—	10x	as long as short
RISEx AAVE/USDClong	+0.0112%	1h	140.84	long leg	$180K	$227K	10x
Backpack AAVE_USDC_PERP	+0.0141%	1h	140.89	+0.034%	$386K	$593K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.72	−0.086%	$3.2M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	140.93	+0.063%	$751K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	140.80	−0.031%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0308%	1h	140.88	+0.026%	$3.4M	$1.8M	50x	as long as short