Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.269%

Price spread now: Deribit against Variational Omni−0.026%7-day average +0.003% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.313%−$31 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.026%, 7d avg +0.003%

Together, before fees−0.041%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.029% cheaper against Variational Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	144.42	0.0100	pay 0.0100% / 8h	1h 30m	$3.8M	$1.4M	—
Short	Deribit AAVE_USDC-PERPETUAL	144.38	−0.0096	pay 0.0012% / 1h	30m 16s	$254K	$480K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$41.16
Price spread: −0.026% → +0.003%: −$2.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$51.02
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Deribit: live order book, 49 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 Variational Omni RFQ quote, 4 min ago	3.08 bp	doesn't fit	11.3 bp −$113	doesn't fit	doesn't fit
Sell Deribit live order book, 49 min ago	4.51 bp	8.0 bp −$8	15.2 bp −$152	doesn't fit	doesn't fit

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
01 Exchange AAVEUSD	−0.0160%	1h	144.27	−0.102%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUALshort	−0.0096%	1h	144.38	−0.026%	$254K	$480K	50x
SoDEX AAVE-USD	−0.0070%	1h	144.37	−0.033%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.64	+0.154%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.33	−0.063%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.38	−0.026%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.42	+0.003%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0031%	8h	144.35	−0.046%	$30.8M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0032%	8h	144.36	−0.037%	$65.7M	$185.7M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.163%	$422	$51K	12x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.31	−0.073%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.31	−0.072%	$180K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.35	−0.046%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0051%	8h	144.37	−0.033%	$7.8M	$15.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.36	−0.039%	$17.5M	$66.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.48	+0.044%	$3.5M	$2.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.43	+0.009%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.70	+0.198%	$456K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.56	+0.098%	$4.6M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.21	−0.143%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.20	−0.147%	$798K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.41	−0.005%	$79.3M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.33	−0.060%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.25	−0.119%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.37	−0.033%	$61.3M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.27	−0.102%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.27	−0.104%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.37	−0.033%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.36	−0.039%	$30.1M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.38	−0.026%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.48	+0.044%	$379K	$713K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	144.42	long leg	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	144.64	+0.153%	$103K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.64	+0.154%	$134K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.35	−0.046%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.23	−0.127%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.56	+0.102%	$693K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.29	−0.088%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.34	−0.050%	$931K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0126%	8h	144.27	−0.102%	$3.4M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.42	+0.004%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.47	+0.037%	$781K	$3.0M	50x	as long as short