Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.040%

Price spread now: HTX against Backpack+0.238%7-day average −0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$550.552% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.543%−$54 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.238%, 7d avg −0.155%

Together, before fees−0.686%−$69 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.393% dearer against Backpack than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of −0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	144.16	0.0100	pay 0.0013% / 1h	38m 32s	$378K	$703K	10x
Short	HTX AAVE-USDT	144.50	0.0100	get 0.0100% / 8h	2h 38m	$732K	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → −0.155%: $39.26
Slippage, 4 orders: −$33.17
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$15.91
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from Backpack: live order book, 50 min ago; HTX: live order book, just now.

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 Backpack live order book, 50 min ago	0.68 bp	6.4 bp −$6	134.6 bp −$1,346	doesn't fit	doesn't fit
Sell HTX live order book, just now	5.85 bp	28.3 bp −$28	90.0 bp −$900	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
Deribit AAVE_USDC-PERPETUAL	−0.0305%	1h	143.98	−0.125%	$248K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0213%	1h	144.00	−0.111%	$5K	$302K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.07	−0.062%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.78	+0.430%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.12	−0.030%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.05	−0.076%	$70K	$1.6M	3.4x	as long as short
ApeX Omni AAVEUSDT	+0.0001%	1h	144.66	+0.347%	$134K	$229K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.13	−0.024%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.20	+0.024%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.994%	$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	144.05	−0.078%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.13	−0.021%	$17.5M	$65.5M	50x	as long as short
Gate AAVE_USDT	+0.0052%	8h	144.04	−0.083%	$7.7M	$15.7M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	143.95	−0.146%	$18K	$12K	10x	as long as short
Binance AAVEUSDT	+0.0070%	8h	144.04	−0.082%	$65.5M	$183.0M	75x	as long as short
MEXC AAVE_USDT	+0.0070%	8h	144.06	−0.069%	$31.8M	$26.1M	200x	as long as short
GRVT AAVE_USDT_Perp	+0.0095%	8h	144.67	+0.355%	$459K	$4.0M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.21	+0.031%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.05	−0.080%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.11	−0.036%	$179K	$242K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.08	−0.053%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.04	−0.085%	$799K	$443K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.24	+0.055%	$80.4M	$32.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.08	−0.053%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.11	−0.035%	$328K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.10	−0.042%	$61.3M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.08	−0.055%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	+0.315%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.14	−0.014%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.09	−0.049%	$30.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.07	−0.062%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.16	long leg	$378K	$703K	10x
Variational Omni AAVE	+0.0100%	8h	144.70	+0.372%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.64	+0.335%	$100K	$312K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.11	−0.035%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.99	−0.120%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	144.50	+0.238%	$732K	$4.9M	75x
Phemex AAVEUSDT	+0.0100%	8h	144.06	−0.069%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.07	−0.065%	$929K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0191%	8h	144.02	−0.097%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.19	+0.021%	$776K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.12	−0.029%	$124K	—	100x	as long as short