Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.050%

Price spread now: Hyperliquid against Gate+0.014%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.014%, 7d avg +0.063%

Together, before fees+0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.049% cheaper against Gate than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.063%). If the spread goes back, that is −$5 on $10k: about 3.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AAVE_USDT	144.95	0.0056	pay 0.0056% / 8h	2h 42m	$7.7M	$15.6M	75x
Short	Hyperliquid AAVE	144.97	0.0100	get 0.0013% / 1h	42m 34s	$81.0M	$32.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.014%Rate

Funding earned: $9.24
Price spread: +0.014% → +0.063%: −$4.89
Slippage, 4 orders: −$21.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$41.16
Costs to cover: 0.455%
Break-even: 38.2 days

Slippage from Gate: live order book, 1 min ago; Hyperliquid: live order book, 11 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 Gate live order book, 1 min ago	4.14 bp	14.7 bp −$15	30.9 bp −$309	45.7 bp −$4,570	51.4 bp −$25.7K
Sell Hyperliquid live order book, 11 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	−0.0370%	1h	145.03	+0.055%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0184%	1h	145.00	+0.034%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.90	−0.034%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.05	+0.069%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	+0.074%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.00	+0.034%	$72K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.85	−0.070%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.16	+0.144%	$3.5M	$2.0M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.512%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0037%	1h	144.98	+0.021%	$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	144.75	−0.135%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.87	−0.055%	$17.6M	$65.6M	50x	as long as short
Gate AAVE_USDTlong	+0.0056%	8h	144.95	long leg	$7.7M	$15.6M	75x
Orderly PERP_AAVE_USDC	+0.0057%	8h	145.02	+0.048%	$18K	$12K	10x	as long as short
Binance AAVEUSDT	+0.0074%	8h	144.83	−0.085%	$65.9M	$182.0M	75x	as long as short
MEXC AAVE_USDT	+0.0075%	8h	144.93	−0.014%	$32.1M	$26.1M	200x	as long as short
Nado AAVE-PERP	+0.0085%	1h	144.87	−0.055%	$804K	$444K	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.16	+0.143%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	145.06	+0.077%	$123K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.93	−0.011%	$180K	$242K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	144.97	+0.014%	$460K	$4.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.97	+0.011%	$14K	$4K	20x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	144.97	+0.014%	$81.0M	$32.5M	10x
Aster AAVEUSDT	+0.0100%	8h	145.04	+0.064%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.01	+0.041%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.88	−0.048%	$61.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.91	−0.028%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	+0.129%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.94	−0.007%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.85	−0.069%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.96	+0.007%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.13	+0.124%	$381K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.12	+0.114%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.93	−0.012%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.92	−0.021%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.99	+0.025%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.31	+0.251%	$738K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.03	+0.055%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.90	−0.035%	$936K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0196%	8h	145.00	+0.034%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.05	+0.069%	$780K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.07	+0.081%	$125K	—	100x	as long as short