AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.055%

Price spread now: Hyperliquid against dYdX−0.145%7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$350as in the Funding arb table

Net, price: spread back to 7d avg − costs−$392as in the Price arb table

costs, in and out, $10k−$3703.697% of the position

Long on dYdX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)+0.294%+$29 · spread now −0.145%, 7d avg +0.083%

Together, before fees+0.494%+ Points / potential airdropHyperliquid: Season 2 · farm board+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.228% cheaper against dYdX than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of +0.083%). If the spread goes back, that is −$23 on $10k: about 7.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	144.78	0	get 0.0000% / 1h	41m 03s	$103K	$5K	10x
Short	Hyperliquid AAVE	144.57	0.0100	get 0.0013% / 1h	41m 03s	$80.8M	$32.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against dYdX. 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 dYdXbpFee HyperliquidbpOrdersPrice spread, now −0.145%Rate

Funding earned: $21
Price spread: −0.145% → +0.083%: −$22.78
Slippage, 4 orders: −$350.7
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$371.48
Costs to cover: 3.697%
Break-even: 130.8 days

Slippage from dYdX: live order book, 47 min ago; Hyperliquid: live order book, 13 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 dYdX live order book, 47 min ago	163.65 bp	187.4 bp −$187	190.6 bp −$1,906	198.0 bp −$19.8K	457.7 bp −$228.9K
Sell Hyperliquid live order book, 13 min ago	0.69 bp	6.5 bp −$6	12.9 bp −$129	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
Deribit AAVE_USDC-PERPETUAL	−0.0372%	1h	144.64	−0.096%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0184%	1h	144.62	−0.110%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.66	−0.082%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.78	+0.001%	$4K	$101K	10x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	144.78	long leg	$103K	$5K	10x
Kalshi KXAAVEPERP	0.0000%	8h	144.63	−0.103%	$72K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.72	−0.044%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.77	−0.005%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.401%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0037%	1h	144.98	+0.139%	$135K	$229K	50x	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	144.64	−0.100%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.40	−0.262%	$17.5M	$65.5M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	144.63	−0.103%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0056%	8h	144.48	−0.207%	$7.7M	$15.6M	75x	as long as short
Binance AAVEUSDT	+0.0072%	8h	144.39	−0.271%	$65.7M	$182.2M	75x	as long as short
MEXC AAVE_USDT	+0.0074%	8h	144.48	−0.207%	$32.0M	$26.1M	200x	as long as short
Nado AAVE-PERP	+0.0093%	1h	144.75	−0.020%	$803K	$444K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.73	−0.031%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.66	−0.082%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.72	−0.041%	$180K	$242K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	144.97	+0.132%	$460K	$4.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.66	−0.083%	$14K	$4K	20x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	144.57	−0.145%	$80.8M	$32.5M	10x
Aster AAVEUSDT	+0.0100%	8h	144.60	−0.127%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.74	−0.026%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.44	−0.234%	$61.5M	$65.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.68	−0.069%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	−0.114%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.55	−0.158%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.44	−0.234%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.46	−0.220%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.60	−0.124%	$380K	$701K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.12	+0.232%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.93	+0.106%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.71	−0.048%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.62	−0.112%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.77	−0.006%	$734K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.56	−0.151%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.62	−0.112%	$936K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0192%	8h	144.58	−0.138%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.92	+0.097%	$779K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.70	−0.052%	$124K	—	100x	as long as short