Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against BloFin+0.063%87s7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.301% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.063%, 7d avg +0.099%

Together, before fees−0.258%+ Points / potential airdropHyperliquid: Season 2 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hyperliquid is 0.036% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.099%). Swap the legs. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AAVE-USDT	142.18	0.0220	pay 0.0220% / 8h	1h 07m	$3.3M	$3.6M	100x
Short	Hyperliquid AAVE	142.27	0.0166	get 0.0021% / 1h	7m 53s	$77.8M	$36.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$11.26
Price spread: +0.063% → +0.099%: −$3.57
Slippage, 4 orders: −$9.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$44.92
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Hyperliquid: live order book, 6 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 BloFin live order book, 5 min ago	0.70 bp	6.7 bp −$7	9.5 bp −$95	20.2 bp −$2,020	doesn't fit
Sell Hyperliquid live order book, 6 min ago	2.45 bp	7.0 bp −$7	9.4 bp −$94	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
dYdX AAVE-USD	0.0000%	1h	142.18	+0.004%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.13	−0.035%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.14	−0.028%	$215K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.15	−0.020%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.671%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.08	−0.069%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0070%	1h	142.06	−0.088%	$827K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0080%	8h	142.12	−0.042%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.48	+0.211%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.32	+0.102%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.03	−0.106%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	−0.014%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.10	−0.053%	$324K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.18	0.000%	$63.9M	$188.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.09	−0.063%	$61.4M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.14	−0.028%	$17.0M	$64.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.18	0.000%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.35	+0.120%	$161K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.13	−0.035%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.13	−0.035%	$24.3M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.13	−0.035%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.07	−0.077%	$29.0M	$17.8M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.11	−0.049%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.30	+0.083%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.35	+0.118%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.39	+0.144%	$452K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.41	+0.162%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.18	0.000%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.06	−0.081%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.13	−0.035%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.196%	$674K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.12	−0.042%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.06	−0.084%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.17	−0.004%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.13	−0.035%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0159%	1h	142.27	+0.063%	$390K	$727K	10x	as long as short
Hyperliquid AAVEshort	+0.0166%	1h	142.27	+0.063%	$77.8M	$36.9M	10x
BloFin AAVE-USDTlong	+0.0220%	8h	142.18	long leg	$3.3M	$3.6M	100x
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.14	−0.026%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.14	−0.030%	$189K	$270K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.29	+0.077%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.22	+0.031%	$3.4M	$2.1M	50x	as long as short