Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.068%

Price spread now: Coinbase International against HTX+0.085%7-day average +0.194% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$700.696% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.690%+$69 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.085%, 7d avg +0.194%

Together, before fees+0.738%+$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.109% cheaper against HTX than usual: you would sell low and buy high (spread +0.085% now, against its 7-day average of +0.194%). If the spread goes back, that is −$11 on $10k: about 33 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AAVE-USDT	143.11	0.0100	pay 0.0100% / 8h	3h 13m	$684K	$5.2M	75x
Short	Coinbase International AAVE-PERP-INTX	143.23	0.0360	get 0.0045% / 1h	13m 13s	$783K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.085%Rate

Funding earned: $54.6
Price spread: +0.085% → +0.194%: −$10.87
Slippage, 4 orders: −$47.6
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.87
Costs to cover: 0.696%
Break-even: 10.3 days

Slippage from HTX: live order book, 1 min ago; Coinbase International: 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 HTX live order book, 1 min ago	9.71 bp	17.3 bp −$17	65.6 bp −$656	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	5.59 bp	14.5 bp −$14	18.3 bp −$183	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
dYdX AAVE-USD	0.0000%	1h	142.93	−0.125%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.94	−0.117%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.90	−0.145%	$218K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.95	−0.111%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0033%	1h	142.94	−0.117%	$833K	$398K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.296%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.19	+0.057%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.91	−0.141%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	142.89	−0.152%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0063%	8h	142.92	−0.131%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0096%	1h	142.98	−0.089%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.99	−0.086%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.93	−0.124%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.00	−0.073%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.85	−0.178%	$63.8M	$188.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.83	−0.194%	$61.4M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.82	−0.201%	$17.1M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.10	−0.006%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.57	−0.377%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.83	−0.194%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.84	−0.187%	$25.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.93	−0.124%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.89	−0.152%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.88	−0.159%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.95	−0.110%	$336K	$722K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.94	−0.117%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.04	−0.047%	$104K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.07	−0.028%	$457K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.13	+0.015%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.02	−0.061%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.94	−0.119%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.89	−0.152%	$5K	$310K	10x	as long as short
HTX AAVE-USDTlong	+0.0100%	8h	143.11	long leg	$684K	$5.2M	75x
Extended AAVE-USD	+0.0104%	1h	142.83	−0.191%	$908K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.93	−0.125%	$121K	$146	10x	as long as short
Hyperliquid AAVE	+0.0122%	1h	142.97	−0.095%	$78.2M	$37.1M	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.04	−0.047%	$185K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.96	−0.103%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.99	−0.083%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.94	−0.114%	$112K	—	100x	as long as short
Lighter AAVE	+0.0256%	1h	143.09	−0.013%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0360%	1h	143.23	+0.085%	$783K	$2.8M	50x