Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0265%/8h= +29.0% APRpaid last 24h +0.277%

Price spread now: HTX against Deribit+0.082%7-day average −0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

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

costs, in and out, $10k−$490.490% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)−0.293%−$29 · spread now +0.082%, 7d avg −0.117%

Together, before fees−0.330%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and HTX is 0.199% dearer against Deribit than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.117%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.037% in total (about -1.9% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	144.67	−0.0165	get 0.0021% / 1h	33m 29s	$254K	$480K	50x
Short	HTX AAVE-USDT	144.79	0.0100	get 0.0100% / 8h	1h 33m	$694K	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now +0.082%Rate

Funding earned: $55.65
Price spread: +0.082% → −0.117%: $19.89
Slippage, 4 orders: −$29.98
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $26.57
Costs to cover: 0.490%
Break-even: 3.7 days

Slippage from Deribit: live order book, 45 min ago; HTX: live order book, 1 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 Deribit live order book, 45 min ago	4.51 bp	8.4 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	9.59 bp	16.9 bp −$17	68.4 bp −$684	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
01 Exchange AAVEUSD	−0.0168%	1h	144.72	+0.035%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUALlong	−0.0165%	1h	144.67	long leg	$254K	$480K	50x
SoDEX AAVE-USD	−0.0061%	1h	144.68	+0.007%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.94	+0.187%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.74	+0.045%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.56	−0.076%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.71	+0.027%	$70K	—	150x	as long as short
Binance AAVEUSDT	+0.0033%	8h	144.63	−0.026%	$65.8M	$185.6M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.329%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	144.64	−0.021%	$30.9M	$25.8M	200x	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	144.59	−0.054%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.78	+0.077%	$180K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.59	−0.055%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.62	−0.035%	$17.5M	$66.7M	50x	as long as short
Gate AAVE_USDT	+0.0053%	8h	144.64	−0.021%	$7.8M	$15.8M	75x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.79	+0.085%	$3.5M	$2.1M	50x	as long as short
Bulk AAVE-USD	+0.0080%	1h	144.69	+0.011%	$61K	$3K	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.71	+0.030%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.70	+0.023%	$456K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.88	+0.147%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.69	+0.016%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.72	+0.038%	$801K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.81	+0.097%	$79.6M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.70	+0.023%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.74	+0.051%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.67	0.000%	$61.4M	$65.7M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.74	+0.048%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.66	−0.007%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.72	+0.035%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.67	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.81	+0.097%	$380K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.61	−0.043%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.66	−0.009%	$103K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.57	−0.069%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.73	+0.041%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.46	−0.142%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	144.79	+0.082%	$694K	$5.0M	75x
Phemex AAVEUSDT	+0.0100%	8h	144.58	−0.062%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.70	+0.018%	$929K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0134%	8h	144.68	+0.007%	$3.4M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.67	+0.003%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.80	+0.090%	$783K	$3.0M	50x	as long as short