Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.022%

Price spread now: Kraken Futures against Variational Omni−0.340%7-day average +0.052% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 3 days (all we have)+0.600%+$60 · spread now −0.340%, 7d avg +0.052%

Together, before fees+0.525%+ Points / potential airdropVariational Omni: Active · farm board+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.392% cheaper against Variational Omni than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	144.01	0.0100	pay 0.0100% / 8h	2h 06m	$3.8M	$1.3M	—
Short	Kraken Futures PF_AAVEUSD	143.52	0.0012	get 0.0002% / 1h	6m 29s	$3.4M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.340%Rate

Funding earned: −$18.39
Price spread: −0.340% → +0.052%: −$39.18
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$67.58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Kraken Futures: live order book, 2 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, 3 min ago	3.05 bp	doesn't fit	10.7 bp −$107	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	4.86 bp	11.1 bp −$11	16.6 bp −$166	177.5 bp −$17.8K	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
Deribit AAVE_USDC-PERPETUAL	−0.0377%	1h	143.45	−0.390%	$252K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0136%	1h	143.37	−0.445%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0096%	1h	143.38	−0.438%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.10	+0.062%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.54	−0.324%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.83	−0.126%	$70K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.47	−0.373%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSDshort	+0.0012%	1h	143.52	−0.340%	$3.4M	$2.1M	50x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.896%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.36	−0.454%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0047%	8h	143.35	−0.459%	$30.9M	$26.4M	200x	as long as short
Binance AAVEUSDT	+0.0047%	8h	143.37	−0.445%	$65.3M	$185.2M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.38	−0.438%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0054%	8h	143.39	−0.431%	$17.3M	$65.8M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0056%	1h	144.02	+0.006%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0061%	8h	143.40	−0.425%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	−0.025%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.07	+0.041%	$450K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.56	−0.311%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.45	−0.391%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.46	−0.386%	$178K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.43	−0.407%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.41	−0.414%	$796K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.48	−0.369%	$79.3M	$33.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.47	−0.376%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.40	−0.425%	$327K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.40	−0.425%	$61.0M	$65.5M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.41	−0.418%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.42	−0.411%	$10.2M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.30	−0.494%	$29.8M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.38	−0.438%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.52	−0.341%	$379K	$709K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	144.01	long leg	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	144.06	+0.034%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.45	−0.390%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.39	−0.434%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.55	−0.322%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.53	−0.334%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.35	−0.458%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0167%	8h	143.40	−0.425%	$3.4M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.91	−0.070%	$770K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.45	−0.389%	$123K	—	100x	as long as short