Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.055%

Price spread now: HTX against GMX+0.122%7-day average −0.154% · you sell dearer than you buy

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.130%−$13 on $10k

Price spread, last 4 days (all we have)−0.349%−$35 · spread now +0.122%, 7d avg −0.154%

Together, before fees−0.479%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.276% dearer against GMX than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of −0.154%): +$28 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AAVE/USD [AAVE-USDC]	141.20	L +0.0252% / S −0.0360%	pay 0.0031% / 1h	54m 56s	$110K	—	100x
Short	HTX AAVE-USDT	141.37	0.0100	get 0.0100% / 8h	7h 54m	$666K	$5.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$31.92
Price spread: +0.122% → −0.154%: $27.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$28.28
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; HTX: live order book, 4 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 4 min ago	10.08 bp	27.5 bp −$28	57.8 bp −$578	doesn't fit	doesn't fit

GMX: 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
dYdX AAVE-USD	0.0000%	1h	141.09	−0.077%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.13	−0.047%	$46K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.15	−0.033%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.17	−0.016%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.000%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.10	−0.066%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0085%	8h	141.11	−0.061%	$17K	$8K	10x	as long as short
SoDEX AAVE-USD	+0.0089%	1h	141.17	−0.019%	$5K	$298K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	141.43	+0.164%	$452K	$3.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.03	−0.117%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0100%	1h	141.06	−0.095%	$825K	$400K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.44	+0.173%	$77.2M	$37.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.46	+0.190%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.08	−0.082%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.43	+0.168%	$63.6M	$192.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.39	+0.137%	$60.9M	$69.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.39	+0.137%	$16.6M	$64.9M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.24	+0.031%	$91K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.56	+0.261%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.41	+0.151%	$8.1M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.44	+0.173%	$22.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.43	+0.166%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.41	+0.151%	$28.7M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.43	+0.166%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.23	+0.025%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.52	+0.227%	$109K	$282K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.41	+0.151%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.17	−0.019%	$134K	$484K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.17	−0.016%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	141.37	+0.122%	$666K	$5.3M	75x
Phemex AAVEUSDT	+0.0100%	8h	141.26	+0.045%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.35	+0.109%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.15	−0.033%	$119K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	141.16	−0.026%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0152%	1h	141.65	+0.321%	$4K	$99K	10x	as long as short
Lighter AAVE	+0.0168%	1h	141.39	+0.134%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0192%	1h	141.42	+0.158%	$385K	$732K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.70	+0.357%	$754K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.18	−0.011%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.14	−0.041%	$183K	$294K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0249%	1h	141.26	+0.048%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0252% / S −0.0360%	1h	141.20	long leg	$110K	—	100x