Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.014%

Price spread now: Injective against Bybit−4.955%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.955% cheaper against Bybit than usual: you would sell low and buy high (−$495 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	144.10	0.0100	pay 0.0100% / 8h	2h 39m	$61.2M	$65.3M	75x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	39m 07s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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

Position, each leg$Hold fordaysFee BybitbpFee InjectivebpOrdersPrice spread, now −4.955%Rate

Funding earned: −$14
Price spread: −4.955% → 0.000%: −$495.49
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$520.51
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Injective: no order-book sample. 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 Bybit live order book, 5 min ago	0.34 bp	9.9 bp −$10	18.6 bp −$186	75.6 bp −$7,558	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Deribit AAVE_USDC-PERPETUAL	−0.0305%	1h	143.98	−0.083%	$248K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0213%	1h	144.00	−0.069%	$5K	$302K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	143.98	−0.083%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.78	+0.472%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.27	+0.115%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.05	−0.035%	$70K	$1.6M	3.4x	as long as short
ApeX Omni AAVEUSDT	+0.0001%	1h	144.66	+0.389%	$134K	$229K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.13	+0.017%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.20	+0.066%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−4.955%	$422	$51K	12x

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	−0.036%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0049%	8h	144.06	−0.028%	$17.5M	$65.4M	50x	as long as short
Gate AAVE_USDT	+0.0052%	8h	144.00	−0.069%	$7.7M	$15.7M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	143.95	−0.104%	$18K	$12K	10x	as long as short
Binance AAVEUSDT	+0.0071%	8h	144.11	+0.007%	$65.5M	$182.9M	75x	as long as short
MEXC AAVE_USDT	+0.0072%	8h	144.02	−0.056%	$31.8M	$26.1M	200x	as long as short
GRVT AAVE_USDT_Perp	+0.0095%	8h	144.67	+0.397%	$459K	$4.0M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.22	+0.082%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.05	−0.038%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.07	−0.024%	$179K	$242K	10x	as long as short
Nado AAVE-PERP	+0.0098%	1h	144.03	−0.045%	$799K	$444K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.04	−0.040%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.16	+0.042%	$80.4M	$32.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.05	−0.035%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.17	+0.046%	$328K	$505K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	144.10	long leg	$61.2M	$65.3M	75x
Arcus AAVE-USD	+0.0100%	1h	144.01	−0.062%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	+0.357%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.10	0.000%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.05	−0.035%	$30.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.06	−0.028%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.16	+0.042%	$378K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.70	+0.413%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.64	+0.377%	$100K	$312K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.11	+0.007%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.99	−0.078%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.50	+0.280%	$732K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.06	−0.028%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.92	−0.126%	$929K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0191%	8h	144.02	−0.056%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.19	+0.062%	$776K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.12	+0.013%	$124K	—	100x	as long as short