AAVE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.392%

7d average—if it closes, per $10,000$39funding while held, a day−$1.58

Long on Variational Omni Short on Phoenix

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	142.12	0.0064	pay 0.0064% / 8h	6h 37m	$3.7M	$1.4M	—
Short	Phoenix AAVE	142.68	0.0011	get 0.0001% / 1h	37m 48s	$4K	$78K	10x

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 PhoenixbpOrdersClose when spread is

Spread captured: $39.2
Funding while held: −$1.58
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $30.62
Spread needed to break even: 0.070%

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phoenix: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0053%
Per $10,000 a day: −$1.58
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, 3 min ago	3.10 bp	doesn't fit	13.7 bp −$137	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 price on every exchange

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

Injective136.96cheapest ApeX Omni142.03+3.702%

Variational Omni142.12+3.770%

edgeX142.14+3.778%Coinbase International142.39+3.965%BloFin142.67+4.169%

Phoenix142.68+4.176%

Bulk142.81+4.275%Kalshi142.82+4.279%Phemex142.83+4.286%Nado142.84+4.293%OKX142.84+4.293%SoDEX142.84+4.293%Reya142.84+4.296%dYdX142.85+4.298%Binance142.85+4.299%Bybit142.86+4.308%BingX142.86+4.308%Aster142.86+4.311%SunX142.86+4.311%Pacifica142.87+4.314%Gate142.87+4.315%Backpack142.87+4.315%KuCoin142.88+4.322%Extended142.88+4.326%Bitget142.89+4.330%MEXC142.90+4.337%Orderly142.92+4.352%GMX142.92+4.352%Paradex142.92+4.353%Aevo142.93+4.359%gTrade (Gains Network)142.93+4.360%Arcus142.94+4.366%Deribit142.94+4.366%Kraken Futures142.95+4.377%RISEx142.96+4.384%Hyperliquid142.97+4.389%01 Exchange142.98+4.395%Lighter142.98+4.398%HTX142.98+4.398%Polymarket Perps142.99+4.403%

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	−3.633%	+0.0033%	1h	$422	$106K	12x	as long as short
ApeX Omni AAVEUSDT	−0.065%	+0.0039%	1h	$132K	$236K	50x	as long as short
Variational Omni AAVElong	0.000%	+0.0064%	8h	$3.7M	$1.4M	—
edgeX AAVEUSDC	+0.009%	+0.0100%	4h	$97K	$309K	20x	as long as short
Coinbase International AAVE-PERP-INTX	+0.188%	+0.0184%	1h	$748K	$2.6M	50x	as long as short
BloFin AAVE-USDT	+0.385%	+0.0211%	8h	$3.6M	$5.5M	100x	as long as short
Phoenix AAVEshort	+0.392%	+0.0011%	1h	$4K	$78K	10x
Bulk AAVE-USD	+0.487%	+0.0100%	1h	$58K	$512	10x	as long as short
Kalshi KXAAVEPERP	+0.491%	0.0000%	8h	$69K	$1.4M	3.4x	as long as short
Phemex AAVEUSDT	+0.498%	+0.0086%	8h	$4.0M	$3.8M	50x	as long as short

Show all 41 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.505%	+0.0098%	1h	$812K	$430K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.505%	+0.0072%	8h	$17.7M	$62.7M	50x	as long as short
SoDEX AAVE-USD	+0.505%	−0.0123%	1h	$5K	$291K	10x	as long as short
Reya AAVERUSDPERP	+0.507%	+0.0044%	1h	—	—	20x	as long as short
dYdX AAVE-USD	+0.509%	0.0000%	1h	$103K	$4K	10x	as long as short
Binance AAVEUSDT	+0.510%	+0.0092%	8h	$64.5M	$172.1M	75x	as long as short
Bybit AAVEUSDT	+0.519%	+0.0100%	8h	$60.4M	$62.4M	75x	as long as short
BingX AAVE-USDT	+0.519%	+0.0100%	8h	—	$42.4M	—	as long as short
Aster AAVEUSDT	+0.521%	+0.0100%	8h	$1.4M	$1.0M	50x	as long as short
SunX AAVE-USDT	+0.522%	+0.0100%	8h	$2K	$1.2M	20x	as long as short
Pacifica AAVE	+0.524%	+0.0100%	1h	$333K	$483K	10x	as long as short
Gate AAVE_USDT	+0.526%	+0.0093%	8h	$7.8M	$13.2M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.526%	+0.0100%	1h	$253K	$550K	10x	as long as short
KuCoin AAVEUSDTM	+0.533%	+0.0100%	8h	$10.1M	$8.5M	75x	as long as short
Extended AAVE-USD	+0.536%	+0.0056%	1h	$893K	$1.5M	50x	as long as short
Bitget AAVEUSDT	+0.540%	+0.0100%	8h	$29.4M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.547%	+0.0090%	8h	$22.6M	$23.4M	200x	as long as short
Orderly PERP_AAVE_USDC	+0.561%	+0.0062%	8h	$18K	$17K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	+0.561%	L +0.0267% / S −0.0440%	1h	$123K	—	100x	as long as short
Paradex AAVE-USD-PERP	+0.562%	+0.0100%	8h	$13K	$4K	20x	as long as short
Aevo AAVE-PERP	+0.568%	+0.0104%	1h	$121K	$146	10x	as long as short
gTrade (Gains Network) AAVE/USD	+0.569%	L +0.0005% / S −0.0003%	1h	$93K	—	150x	as long as short
Arcus AAVE-USD	+0.575%	+0.0100%	1h	$54K	$412K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	+0.575%	0.0000%	1h	$192K	$358K	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.585%	+0.0193%	1h	$3.5M	$2.1M	50x	as long as short
RISEx AAVE/USDC	+0.592%	+0.0098%	1h	$187K	$261K	10x	as long as short
Hyperliquid AAVE	+0.597%	+0.0100%	1h	$79.2M	$25.2M	10x	as long as short
01 Exchange AAVEUSD	+0.603%	−0.0032%	1h	$10K	$2K	5x	as long as short
Lighter AAVE	+0.606%	+0.0096%	1h	$4.6M	$1.8M	10x	as long as short
HTX AAVE-USDT	+0.606%	+0.0100%	8h	$698K	$4.6M	75x	as long as short
Polymarket Perps AAVE-USD	+0.610%	+0.0100%	1h	$128K	$606K	10x	as long as short