AAVE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.054%

7d average+0.035%if it closes, per $10,000$5funding while held, a day+$1.48

Long on Variational Omni Short on Phemex

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	143.40	0.0051	pay 0.0051% / 8h	7h 24m	$3.8M	$1.4M	—
Short	Phemex AAVEUSDT	143.32	0.0100	get 0.0100% / 8h	7h 24m	$4.0M	$3.8M	50x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee Variational OmnibpFee PhemexbpOrdersClose when spread is

Spread captured: −$5.38
Funding while held: $1.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.9
Spread needed to break even: 0.120%

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phemex: live order book, 6 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0049%
Per $10,000 a day: +$1.48
Average in range /8h: —

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, 1 min ago	3.10 bp	doesn't fit	10.8 bp −$108	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	4.53 bp	24.3 bp −$24	34.8 bp −$348	doesn't fit	doesn't fit

AAVE price on every exchange

against the cheapest. Click to use as the short leg.

Injective136.96cheapest Deribit142.87+4.315%Paradex143.10+4.483%Nado143.10+4.487%Pacifica143.12+4.498%Kalshi143.13+4.505%SunX143.13+4.506%dYdX143.13+4.507%Reya143.16+4.527%Arcus143.21+4.563%BloFin143.21+4.563%RISEx143.23+4.577%KuCoin143.23+4.578%Polymarket Perps143.24+4.585%01 Exchange143.25+4.593%Coinbase International143.25+4.593%Gate143.26+4.600%BingX143.26+4.600%GMX143.26+4.600%Bitget143.27+4.607%gTrade (Gains Network)143.28+4.611%OKX143.28+4.614%Orderly143.28+4.614%Aevo143.28+4.614%Extended143.28+4.617%SoDEX143.30+4.629%Aster143.30+4.633%MEXC143.31+4.636%

Phemex143.32+4.644%

Binance143.32+4.646%Bybit143.33+4.651%Backpack143.38+4.688%

Variational Omni143.40+4.700%

Hyperliquid143.42+4.717%Kraken Futures143.42+4.717%Phoenix143.45+4.739%Lighter143.53+4.798%Bulk143.55+4.810%edgeX143.61+4.852%HTX143.67+4.898%ApeX Omni143.69+4.914%

AAVE on 41 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	−4.489%	+0.0033%	1h	$422	$145K	12x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.368%	−0.2612%	1h	$197K	$354K	50x	as long as short
Paradex AAVE-USD-PERP	−0.207%	+0.0100%	8h	$13K	$4K	20x	as long as short
Nado AAVE-PERP	−0.204%	+0.0025%	1h	$815K	$430K	10x	as long as short
Pacifica AAVE	−0.193%	+0.0100%	1h	$330K	$476K	10x	as long as short
Kalshi KXAAVEPERP	−0.186%	0.0000%	8h	$52K	$1.3M	3.4x	as long as short
SunX AAVE-USDT	−0.185%	+0.0100%	8h	$2K	$1.2M	20x	as long as short
dYdX AAVE-USD	−0.185%	0.0000%	1h	$103K	$4K	10x	as long as short
Reya AAVERUSDPERP	−0.165%	+0.0044%	1h	—	—	20x	as long as short
Arcus AAVE-USD	−0.131%	+0.0100%	1h	$58K	$405K	10x	as long as short

Show all 41 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin AAVE-USDT	−0.131%	+0.0210%	8h	$3.6M	$5.5M	100x	as long as short
RISEx AAVE/USDC	−0.118%	+0.0102%	1h	$199K	$256K	10x	as long as short
KuCoin AAVEUSDTM	−0.117%	+0.0100%	8h	$10.1M	$8.3M	75x	as long as short
Polymarket Perps AAVE-USD	−0.110%	+0.0100%	1h	$132K	$607K	10x	as long as short
01 Exchange AAVEUSD	−0.103%	+0.0048%	1h	$10K	$2K	5x	as long as short
Coinbase International AAVE-PERP-INTX	−0.103%	+0.0216%	1h	$774K	$2.7M	50x	as long as short
Gate AAVE_USDT	−0.096%	+0.0100%	8h	$7.6M	$13.2M	75x	as long as short
BingX AAVE-USDT	−0.096%	+0.0100%	8h	—	$43.1M	—	as long as short
GMX AAVE/USD [AAVE-USDC]	−0.095%	L +0.0266% / S −0.0440%	1h	$124K	—	100x	as long as short
Bitget AAVEUSDT	−0.089%	+0.0100%	8h	$29.5M	$16.3M	75x	as long as short
gTrade (Gains Network) AAVE/USD	−0.085%	L +0.0005% / S −0.0014%	1h	$182K	—	150x	as long as short
OKX AAVE-USDT-SWAP	−0.082%	+0.0068%	8h	$17.9M	$62.9M	50x	as long as short
Orderly PERP_AAVE_USDC	−0.082%	+0.0058%	8h	$18K	$17K	10x	as long as short
Aevo AAVE-PERP	−0.082%	+0.0104%	1h	$121K	$146	10x	as long as short
Extended AAVE-USD	−0.080%	+0.0104%	1h	$994K	$1.4M	50x	as long as short
SoDEX AAVE-USD	−0.068%	+0.0100%	1h	$5K	$300K	10x	as long as short
Aster AAVEUSDT	−0.064%	+0.0100%	8h	$1.4M	$1.0M	50x	as long as short
MEXC AAVE_USDT	−0.061%	+0.0089%	8h	$23.2M	$24.3M	200x	as long as short
Phemex AAVEUSDTshort	−0.054%	+0.0100%	8h	$4.0M	$3.8M	50x
Binance AAVEUSDT	−0.052%	+0.0089%	8h	$64.9M	$174.0M	75x	as long as short
Bybit AAVEUSDT	−0.047%	+0.0100%	8h	$61.2M	$61.9M	75x	as long as short
Backpack AAVE_USDC_PERP	−0.012%	+0.0100%	1h	$257K	$556K	10x	as long as short
Variational Omni AAVElong	0.000%	+0.0051%	8h	$3.8M	$1.4M	—
Hyperliquid AAVE	+0.016%	+0.0100%	1h	$80.0M	$24.8M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.016%	−0.0077%	1h	$3.5M	$2.0M	50x	as long as short
Phoenix AAVE	+0.037%	+0.0045%	1h	$4K	$78K	10x	as long as short
Lighter AAVE	+0.093%	+0.0096%	1h	$4.7M	$1.7M	10x	as long as short
Bulk AAVE-USD	+0.105%	+0.0100%	1h	$58K	$512	10x	as long as short
edgeX AAVEUSDC	+0.145%	+0.0100%	4h	$98K	$309K	20x	as long as short
HTX AAVE-USDT	+0.189%	+0.0100%	8h	$703K	$4.5M	75x	as long as short
ApeX Omni AAVEUSDT	+0.204%	+0.0100%	1h	$133K	$239K	50x	as long as short