Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h −0.048%

Price spread now: Variational Omni against 01 Exchange−0.129%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.129% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.129% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 42 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange AAVEUSD	146.46	−0.0144	get 0.0018% / 1h	9m 22s	$11K	$2K	5x
Short	Variational Omni AAVE	146.27	0.0100	get 0.0100% / 8h	7h 09m	$3.8M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against 01 Exchange. 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 01 ExchangebpFee Variational OmnibpOrdersPrice spread, now −0.129%Rate

Funding earned: $51.24
Price spread: −0.129% → 0.000%: −$12.91
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $31.33
Costs to cover: 0.070%
Break-even: 2.7 days

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 5 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	3.07 bp	doesn't fit	12.4 bp −$124	doesn't fit	doesn't fit

01 Exchange: 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 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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.51	+0.037%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSDlong	−0.0144%	1h	146.46	long leg	$11K	$2K	5x
SoDEX AAVE-USD	−0.0071%	1h	146.38	−0.055%	$5K	$295K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.47	+0.007%	$255K	$367K	50x	as long as short
Phemex AAVEUSDT	−0.0019%	8h	146.42	−0.027%	$4.2M	$3.8M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.48	+0.014%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.46	0.000%	$79K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.51	+0.034%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.56	+0.066%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0024%	8h	146.52	+0.041%	$28.7M	$25.9M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0025%	8h	146.50	+0.027%	$66.3M	$183.2M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.486%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.45	−0.008%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	146.48	+0.014%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0047%	1h	146.25	−0.143%	$136K	$231K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	146.47	+0.007%	$17.9M	$66.3M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.47	+0.010%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.70	+0.161%	$4.7M	$1.5M	10x	as long as short
BloFin AAVE-USDT	+0.0096%	8h	146.30	−0.109%	$3.5M	$3.5M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.60	+0.093%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.51	+0.038%	$801K	$422K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.62	+0.109%	$79.9M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.54	+0.054%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.54	+0.055%	$335K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.51	+0.034%	$62.8M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.55	+0.061%	$46K	$275K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.460%	$59K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	146.52	+0.041%	$7.9M	$15.3M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.56	+0.068%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.44	−0.014%	$30.4M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.51	+0.034%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.55	+0.061%	$331K	$739K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	146.27	−0.129%	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	146.26	−0.134%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.39	−0.048%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.59	+0.089%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.46	−0.001%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.75	+0.198%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.51	+0.032%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.57	+0.078%	$185K	$245K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.55	+0.062%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.67	+0.143%	$787K	$2.9M	50x	as long as short