Settings8H · net · $10k
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Funding arb · Price arb /

AAVE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:00 UTC+0.0445%/8h= +48.7% APRpaid last 24h +0.054%
Price spread now: Hyperliquid against Bybit+0.169%7-day average +0.075% · 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−$24as in the Price arb table
costs, in and out, $10k−$340.338% of the position
Long on BybitShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.124%+$12 on $10k
Price spread, last 7 days−0.142%−$14 · spread now +0.169%, 7d avg +0.075%
Together, before fees−0.018%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.094% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.075%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.124% in total (about 6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit AAVEUSDT147.930.0100pay 0.0100% / 8h3h 33m$62.6M$63.2M75x
ShortHyperliquid AAVE148.180.0545get 0.0068% / 1h33m 01s$84.6M$30.5M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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

Funding earned
$93.41
Price spread: +0.169% → +0.075%
$9.41
Slippage, 4 orders
−$13.83
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$68.98
Costs to cover
0.338%
Break-even
1.8 days
Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 16 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago0.34 bp9.6 bp −$1018.2 bp −$18263.7 bp −$6,369doesn't fit
Sell Hyperliquid live order book, 16 min ago2.74 bp7.8 bp −$812.1 bp −$121doesn't fitdoesn't fit

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX AAVE-USD−0.0119%1h147.65−0.189%$5K$299K10xas long as short
Kraken Futures PF_AAVEUSD−0.0060%1h147.76−0.117%$3.5M$2.0M50xas long as short
Phoenix AAVE−0.0039%1h147.49−0.297%$4K$95K10xas long as short
dYdX AAVE-USD0.0000%1h147.33−0.404%$105K$5K10xas long as short
Kalshi KXAAVEPERP0.0000%8h147.69−0.162%$76K$1.5M3.4xas long as short
Deribit AAVE_USDC-PERPETUAL0.0000%1h147.64−0.196%$214K$379K50xas long as short
gTrade (Gains Network) AAVE/USDL +0.0005% / S −0.0004%1h147.56−0.250%$72K—150xas long as short
Injective AAVE/USDC PERP+0.0033%1h136.96−7.416%$422$51K12xas long as short
OKX AAVE-USDT-SWAP+0.0034%8h147.91−0.014%$18.4M$65.9M50xas long as short
Reya AAVERUSDPERP+0.0044%1h147.43−0.337%——20xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado AAVE-PERP+0.0060%1h147.44−0.328%$841K$432K10xas long as short
Orderly PERP_AAVE_USDC+0.0065%8h147.56−0.250%$18K$12K10xas long as short
MEXC AAVE_USDT+0.0084%8h147.86−0.047%$33.5M$25.0M200xas long as short
Binance AAVEUSDT+0.0085%8h147.82−0.074%$67.1M$176.2M75xas long as short
01 Exchange AAVEUSD+0.0088%1h147.49−0.297%$11K$2K5xas long as short
RISEx AAVE/USDC+0.0090%1h147.44−0.329%$185K$240K10xas long as short
Variational Omni AAVE+0.0091%8h147.15−0.529%$3.8M$1.3M—as long as short
Lighter AAVE+0.0096%1h148.07+0.093%$4.8M$1.6M10xas long as short
GRVT AAVE_USDT_Perp+0.0096%8h147.04−0.602%$463K$3.9M10xas long as short
Paradex AAVE-USD-PERP+0.0100%8h147.31−0.421%$14K$4K20xas long as short
Aster AAVEUSDT+0.0100%8h147.72−0.144%$1.4M$1.1M50xas long as short
Pacifica AAVE+0.0100%1h147.33−0.406%$345K$484K10xas long as short
Bybit AAVEUSDTlong+0.0100%8h147.93long leg$62.6M$63.2M75x
Arcus AAVE-USD+0.0100%1h147.43−0.338%$52K$337K10xas long as short
Gate AAVE_USDT+0.0100%8h147.94+0.007%$7.9M$14.8M75xas long as short
KuCoin AAVEUSDTM+0.0100%8h147.86−0.047%$10.4M$8.4M75xas long as short
Bitget AAVEUSDT+0.0100%8h147.86−0.047%$30.5M$17.1M75xas long as short
BingX AAVE-USDT+0.0100%8h147.89−0.027%—$43.1M—as long as short
Backpack AAVE_USDC_PERP+0.0100%1h148.04+0.074%$351K$595K10xas long as short
edgeX AAVEUSDC+0.0100%4h147.08−0.575%$100K$310K20xas long as short
ApeX Omni AAVEUSDT+0.0100%1h147.44−0.331%$137K$235K50xas long as short
Polymarket Perps AAVE-USD+0.0100%1h147.50−0.291%$132K$465K10xas long as short
SunX AAVE-USDT+0.0100%8h147.36−0.384%$2K$1.2M20xas long as short
HTX AAVE-USDT+0.0100%8h148.06+0.090%$754K$4.8M75xas long as short
Phemex AAVEUSDT+0.0100%8h147.77−0.108%$4.2M$3.7M50xas long as short
Bulk AAVE-USD+0.0100%1h146.25−1.136%$61K$3K10xas long as short
Extended AAVE-USD+0.0104%1h147.88−0.033%$956K$1.8M50xas long as short
Aevo AAVE-PERP+0.0104%1h147.68−0.172%$125K$14610xas long as short
BloFin AAVE-USDT+0.0205%8h147.68−0.169%$3.6M$5.4M100xas long as short
Coinbase International AAVE-PERP-INTX+0.0208%1h147.51−0.284%$799K$3.0M50xas long as short
GMX AAVE/USD [AAVE-USDC]L +0.0269% / S −0.0451%1h147.56−0.252%$129K—100xas long as short
Hyperliquid AAVEshort+0.0545%1h148.18+0.169%$84.6M$30.5M10x