Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.046%

Price spread now: Hyperliquid against Binance+0.052%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.052%, 7d avg +0.053%

Together, before fees+0.037%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AAVEUSDT	145.91	0.0023	pay 0.0023% / 8h	7h 49m	$66.2M	$187.5M	75x
Short	Hyperliquid AAVE	145.99	0.0100	get 0.0013% / 1h	49m 26s	$79.7M	$35.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.052%Rate

Funding earned: $16.1
Price spread: +0.052% → +0.053%: −$0.09
Slippage, 4 orders: −$9.97
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$12.96
Costs to cover: 0.290%
Break-even: 12.6 days

Slippage from Binance: live order book, 9 min ago; Hyperliquid: live order book, 4 min ago.

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 Binance live order book, 9 min ago	0.34 bp	8.2 bp −$8	16.1 bp −$161	47.4 bp −$4,744	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.34 bp	7.6 bp −$8	doesn't fit	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.71	−0.139%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	145.94	+0.021%	$11K	$2K	5x	as long as short
ApeX Omni AAVEUSDT	−0.0082%	1h	145.42	−0.336%	$135K	$229K	50x	as long as short
SoDEX AAVE-USD	−0.0080%	1h	145.57	−0.233%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.66	−0.171%	$254K	$391K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.75	−0.106%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.74	−0.117%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	145.67	−0.164%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.94	+0.023%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0023%	8h	145.88	−0.021%	$29.0M	$25.6M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDTlong	+0.0023%	8h	145.91	long leg	$66.2M	$187.5M	75x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.134%	$422	$51K	12x	as long as short
GRVT AAVE_USDT_Perp	+0.0034%	8h	145.61	−0.204%	$456K	$3.9M	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.83	−0.053%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.62	−0.199%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	145.84	−0.048%	$17.8M	$67.2M	50x	as long as short
Gate AAVE_USDT	+0.0069%	8h	145.86	−0.034%	$7.9M	$15.2M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.68	−0.155%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0094%	8h	145.60	−0.212%	$3.4M	$4.1M	100x	as long as short
Lighter AAVE	+0.0096%	1h	145.89	−0.013%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.78	−0.088%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.84	−0.051%	$797K	$448K	10x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	145.99	+0.052%	$79.7M	$35.4M	10x
Aster AAVEUSDT	+0.0100%	8h	145.95	+0.024%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.85	−0.042%	$333K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.85	−0.041%	$62.3M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.96	+0.034%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.52	−0.264%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.91	0.000%	$10.0M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.85	−0.041%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.89	−0.014%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.73	−0.123%	$345K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.51	−0.272%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.59	−0.218%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.92	+0.007%	$128K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.62	−0.202%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.03	+0.080%	$688K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.68	−0.158%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.89	−0.010%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.99	+0.052%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.94	+0.021%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.78	−0.089%	$781K	$3.1M	50x	as long as short