Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.072%

Price spread now: Variational Omni against Hyperliquid−0.209%7-day average −0.082% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.107%−$11 on $10k

Price spread, last 7 days+0.159%+$16 · spread now −0.209%, 7d avg −0.082%

Together, before fees+0.052%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.127% cheaper against Hyperliquid than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AAVE	145.65	0.0100	pay 0.0013% / 1h	3m 12s	$80.0M	$33.8M	10x
Short	Variational Omni AAVE	145.35	0.0100	get 0.0100% / 8h	1h 03m	$3.8M	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.209%Rate

Funding earned: $0
Price spread: −0.209% → −0.082%: −$12.72
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.72
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, 10 min ago	0.34 bp	7.0 bp −$7	11.6 bp −$116	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.06 bp	doesn't fit	10.8 bp −$108	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
01 Exchange AAVEUSD	−0.0120%	1h	145.54	−0.076%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.62	−0.021%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.55	−0.069%	$254K	$436K	50x	as long as short
SoDEX AAVE-USD	−0.0015%	1h	145.55	−0.069%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.70	+0.037%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.60	−0.034%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.59	−0.039%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.966%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0040%	8h	145.54	−0.076%	$30.6M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0041%	8h	145.55	−0.069%	$66.4M	$185.0M	75x	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	145.53	−0.086%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.65	+0.001%	$184K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.54	−0.076%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.66	+0.010%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0061%	8h	145.50	−0.103%	$17.7M	$67.1M	50x	as long as short
Gate AAVE_USDT	+0.0069%	8h	145.52	−0.089%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.60	−0.031%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.76	+0.076%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.66	+0.009%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.59	−0.045%	$806K	$437K	10x	as long as short
Hyperliquid AAVElong	+0.0100%	1h	145.65	long leg	$80.0M	$33.8M	10x
Aster AAVEUSDT	+0.0100%	8h	145.59	−0.041%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.66	+0.007%	$332K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.54	−0.076%	$62.1M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.65	0.000%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.13	−0.360%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.54	−0.076%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.57	−0.055%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.51	−0.096%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.65	0.000%	$350K	$724K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	145.35	−0.209%	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	145.47	−0.123%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.53	−0.082%	$460K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.24	−0.281%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.66	+0.007%	$128K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.54	−0.074%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.75	+0.066%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.52	−0.089%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.52	−0.091%	$935K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	145.65	0.000%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.59	−0.038%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.76	+0.076%	$791K	$3.0M	50x	as long as short