Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.059%

Price spread now: Bybit against Hyperliquid−0.069%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.069%, 7d avg −0.077%

Together, before fees−0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AAVE	144.78	0.0100	pay 0.0013% / 1h	41m 52s	$80.9M	$32.5M	10x
Short	Bybit AAVEUSDT	144.68	0.0100	get 0.0100% / 8h	2h 41m	$61.6M	$64.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.077%: $0.77
Slippage, 4 orders: −$10.65
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.88
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Bybit: live order book, 2 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, 12 min ago	0.69 bp	6.5 bp −$7	12.1 bp −$121	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.34 bp	7.8 bp −$8	16.2 bp −$162	62.7 bp −$6,269	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	−0.0371%	1h	144.78	0.000%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0183%	1h	144.75	−0.021%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.90	+0.083%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.05	+0.186%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	+0.192%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.77	−0.007%	$72K	$1.6M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.85	+0.047%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.92	+0.097%	$3.4M	$2.0M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.401%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0037%	1h	144.98	+0.138%	$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	−0.017%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.66	−0.083%	$17.6M	$65.5M	50x	as long as short
Gate AAVE_USDT	+0.0056%	8h	144.66	−0.083%	$7.7M	$15.6M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	144.76	−0.014%	$18K	$12K	10x	as long as short
Binance AAVEUSDT	+0.0074%	8h	144.62	−0.111%	$65.8M	$182.1M	75x	as long as short
MEXC AAVE_USDT	+0.0075%	8h	144.64	−0.097%	$32.0M	$26.1M	200x	as long as short
Nado AAVE-PERP	+0.0085%	1h	144.87	+0.062%	$804K	$444K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.92	+0.097%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.79	+0.006%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.93	+0.107%	$180K	$242K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	144.97	+0.132%	$460K	$4.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.97	+0.128%	$14K	$4K	20x	as long as short
Hyperliquid AAVElong	+0.0100%	1h	144.78	long leg	$80.9M	$32.5M	10x
Aster AAVEUSDT	+0.0100%	8h	144.73	−0.034%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.01	+0.159%	$331K	$505K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	144.68	−0.069%	$61.6M	$64.9M	75x
Arcus AAVE-USD	+0.0100%	1h	144.91	+0.090%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.14	+0.247%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.73	−0.035%	$10.3M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.62	−0.111%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.65	−0.090%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.74	−0.028%	$380K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.12	+0.232%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.93	+0.105%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.92	+0.097%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.75	−0.023%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.00	+0.153%	$735K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.76	−0.014%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.64	−0.094%	$936K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0196%	8h	145.00	+0.152%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.05	+0.186%	$780K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.84	+0.041%	$125K	—	100x	as long as short