Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.047%

Price spread now: Hyperliquid against Orderly+0.042%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.042% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAVE_USDC	144.04	0.0044	pay 0.0044% / 8h	6h 11m	$18K	$10K	10x
Short	Hyperliquid AAVE	144.10	0.0100	get 0.0013% / 1h	11m 24s	$78.0M	$35.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Orderly. 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 OrderlybpFee HyperliquidbpOrdersPrice spread, now +0.042%Rate

Funding earned: $11.7
Price spread: +0.042% → 0.000%: $4.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $0.86
Costs to cover: 0.150%
Break-even: 6.5 days

Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 12 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 Orderly no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 12 min ago	1.73 bp	7.7 bp −$8	14.2 bp −$142	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE on 41 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
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.20	+0.111%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	143.98	−0.042%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.08	+0.025%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.01	−0.021%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.12	+0.056%	$245K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.96	−0.054%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.11	+0.049%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.915%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.96	−0.055%	—	—	20x	as long as short
Orderly PERP_AAVE_USDClong	+0.0044%	8h	144.04	long leg	$18K	$10K	10x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0073%	8h	143.99	−0.035%	$26.6M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0076%	8h	143.97	−0.049%	$64.9M	$184.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0082%	8h	144.04	0.000%	$17.3M	$65.1M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.02	−0.015%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.23	+0.131%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.09	+0.038%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.94	−0.066%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.93	−0.076%	$801K	$422K	10x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	144.10	+0.042%	$78.0M	$35.7M	10x
Aster AAVEUSDT	+0.0100%	8h	143.99	−0.038%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.04	−0.003%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.03	−0.007%	$61.6M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.00	−0.028%	$44K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.97	−0.049%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.99	−0.035%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.94	−0.069%	$29.9M	$17.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.02	−0.014%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.20	+0.111%	$321K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.03	−0.008%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.08	+0.025%	$104K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.96	−0.055%	$450K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.04	0.000%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.02	−0.014%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.09	+0.032%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.10	+0.042%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.46	+0.290%	$699K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.11	+0.049%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.09	+0.038%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.86	−0.126%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0249% / S −0.0387%	1h	143.96	−0.056%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.76	+0.500%	$778K	$2.8M	50x	as long as short