Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.025%

Price spread now: SunX against Hyperliquid+0.051%7-day average −0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1461.457% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.051%, 7d avg −0.104%

Together, before fees−0.010%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.154% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.104%): +$15 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 38 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AAVE	142.25	0.0114	pay 0.0014% / 1h	31m 52s	$77.8M	$37.1M	10x
Short	SunX AAVE-USDT	142.32	0.0100	get 0.0100% / 8h	2h 31m	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$2.86
Price spread: +0.051% → −0.104%: $15.44
Slippage, 4 orders: −$128.67
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$133.09
Costs to cover: 1.457%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; SunX: 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	0.35 bp	7.6 bp −$8	12.8 bp −$128	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	44.91 bp	65.7 bp −$66	doesn't fit	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	142.30	+0.038%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.02	−0.162%	$56K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.05	−0.141%	$216K	$394K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.14	−0.075%	$79K	—	150x	as long as short
Nado AAVE-PERP	+0.0018%	1h	142.16	−0.060%	$828K	$400K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.719%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.10	−0.107%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0067%	8h	142.11	−0.098%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0088%	8h	142.10	−0.105%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	142.35	+0.070%	$10K	$2K	5x	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	142.32	+0.050%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.11	−0.097%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.35	+0.070%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.07	−0.123%	$63.4M	$189.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.02	−0.162%	$60.8M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.00	−0.176%	$17.0M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.41	+0.112%	$63K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.34	+0.061%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.06	−0.134%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.07	−0.127%	$25.2M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.08	−0.120%	$10.2M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.01	−0.169%	$29.0M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.05	−0.141%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.78	+0.375%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.11	+0.605%	$106K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.72	+0.330%	$447K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.17	+0.647%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.30	+0.035%	$136K	$462K	10x	as long as short
SunX AAVE-USDTshort	+0.0100%	8h	142.32	+0.051%	$2K	$1.3M	20x
SoDEX AAVE-USD	+0.0100%	1h	142.07	−0.127%	$5K	$313K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.44	+0.135%	$681K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.01	−0.168%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.13	−0.088%	$120K	$146	10x	as long as short
Hyperliquid AAVElong	+0.0114%	1h	142.25	long leg	$77.8M	$37.1M	10x
Phoenix AAVE	+0.0118%	1h	142.85	+0.422%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0151%	1h	142.19	−0.042%	$334K	$728K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.37	+0.084%	$188K	$252K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.34	+0.063%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.17	−0.058%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.14	−0.081%	$111K	—	100x	as long as short
Lighter AAVE	+0.0296%	1h	142.29	+0.030%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.15	−0.070%	$770K	$2.8M	50x	as long as short