Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.277%

Price spread now: Deribit against HTX−0.058%7-day average +0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$630.627% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.282%+$28 · spread now −0.058%, 7d avg +0.095%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.153% cheaper against HTX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AAVE-USDT	141.04	0.0100	pay 0.0100% / 8h	24m 05s	$666K	$5.3M	75x
Short	Deribit AAVE_USDC-PERPETUAL	140.96	0	get 0.0000% / 1h	24m 05s	$213K	$392K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$21
Price spread: −0.058% → +0.095%: −$15.27
Slippage, 4 orders: −$43.71
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$98.98
Costs to cover: 0.627%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Deribit: live order book, 10 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, 5 min ago	11.40 bp	20.2 bp −$20	62.7 bp −$627	doesn't fit	doesn't fit
Sell Deribit live order book, 10 min ago	4.60 bp	8.1 bp −$8	16.1 bp −$161	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	140.96	−0.060%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.90	−0.101%	$45K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	140.96	−0.058%	$213K	$392K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.92	−0.084%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.894%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.89	−0.109%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0082%	8h	140.91	−0.094%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.12	+0.052%	$4.5M	$2.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.85	−0.139%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.85	−0.133%	$822K	$397K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.09	+0.034%	$77.1M	$37.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.97	−0.054%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.89	−0.107%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.93	−0.080%	$63.1M	$191.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.91	−0.094%	$60.5M	$69.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.94	−0.072%	$16.6M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.00	−0.030%	$91K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.09	+0.033%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.98	−0.044%	$8.0M	$16.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.92	−0.086%	$22.9M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.94	−0.072%	$10.1M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.91	−0.094%	$28.6M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.95	−0.065%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.88	−0.116%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.09	+0.037%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	+0.087%	$443K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.08	+0.027%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.96	−0.058%	$133K	$483K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.91	−0.094%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	140.92	−0.086%	$5K	$297K	10x	as long as short
HTX AAVE-USDTlong	+0.0100%	8h	141.04	long leg	$666K	$5.3M	75x
Phemex AAVEUSDT	+0.0100%	8h	140.95	−0.065%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.87	−0.125%	$910K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	140.95	−0.065%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.96	−0.062%	$119K	$146	10x	as long as short
Phoenix AAVE	+0.0152%	1h	140.98	−0.044%	$5K	$98K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.89	−0.108%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	140.91	−0.091%	$187K	$291K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0248%	1h	141.07	+0.020%	$384K	$732K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	140.94	−0.074%	$110K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.15	+0.077%	$751K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0272%	1h	140.98	−0.044%	$3.3M	$2.1M	50x	as long as short