Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h −0.015%

Price spread now: BloFin against Hyperliquid−0.091%67s7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.301% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 4 days (all we have)+0.145%+$15 · spread now −0.091%, 7d avg −0.099%

Together, before fees+0.286%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.099%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AAVE	142.31	0.0166	pay 0.0021% / 1h	8m 06s	$77.8M	$36.9M	10x
Short	BloFin AAVE-USDT	142.18	0.0220	get 0.0220% / 8h	1h 08m	$3.3M	$3.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. 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 HyperliquidbpFee BloFinbpOrdersPrice spread, now −0.091%Rate

Funding earned: $11.34
Price spread: −0.091% → −0.099%: $0.77
Slippage, 4 orders: −$9.08
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$17.98
Costs to cover: 0.301%
Break-even: 18.1 days

Slippage from Hyperliquid: live order book, 6 min ago; BloFin: live order book, 5 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 Hyperliquid live order book, 6 min ago	2.45 bp	8.2 bp −$8	14.8 bp −$148	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.70 bp	8.3 bp −$8	14.5 bp −$145	32.9 bp −$3,294	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	142.18	−0.088%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.13	−0.126%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.14	−0.119%	$215K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.15	−0.112%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.759%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.08	−0.161%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0070%	1h	142.06	−0.179%	$827K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0080%	8h	142.12	−0.134%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.48	+0.119%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.32	+0.006%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.03	−0.197%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.19	−0.083%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.10	−0.145%	$324K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.14	−0.121%	$63.9M	$188.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.12	−0.134%	$61.4M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.14	−0.119%	$17.0M	$64.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.18	−0.091%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.35	+0.028%	$161K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.18	−0.091%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.14	−0.119%	$24.3M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.17	−0.098%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.09	−0.155%	$29.0M	$17.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.13	−0.126%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.30	−0.008%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.35	+0.027%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.39	+0.053%	$452K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.41	+0.070%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.18	−0.091%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.06	−0.172%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.13	−0.126%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.105%	$674K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.12	−0.134%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.10	−0.147%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.17	−0.095%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.13	−0.126%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0159%	1h	142.27	−0.028%	$390K	$727K	10x	as long as short
Hyperliquid AAVElong	+0.0166%	1h	142.31	long leg	$77.8M	$36.9M	10x
BloFin AAVE-USDTshort	+0.0220%	8h	142.18	−0.091%	$3.3M	$3.6M	100x
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.14	−0.117%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.14	−0.121%	$189K	$270K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.29	−0.014%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.22	−0.060%	$3.4M	$2.1M	50x	as long as short