Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: Bybit against Polymarket Perps−0.323%47s7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$290.291% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.323%, 7d avg −0.064%

Together, before fees−0.016%−$2 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: Bybit is 0.259% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.064%. The two prices were read 47 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	Polymarket Perps AAVE-USD	142.52	0.0100	pay 0.0013% / 1h	40m 51s	$134K	$453K	10x
Short	Bybit AAVEUSDT	142.06	0.0100	get 0.0100% / 8h	2h 40m	$60.9M	$68.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now −0.323%Rate

Funding earned: $0
Price spread: −0.323% → −0.064%: −$25.9
Slippage, 4 orders: −$10.12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$55.02
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 7 min ago; Bybit: live order book, 3 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 Polymarket Perps live order book, 7 min ago	2.45 bp	6.4 bp −$6	7.6 bp −$76	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.35 bp	7.0 bp −$7	13.7 bp −$137	55.1 bp −$5,506	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
Nado AAVE-PERP	−0.0025%	1h	142.46	−0.042%	$830K	$402K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.15	−0.257%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.54	+0.014%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.45	−0.049%	$218K	$393K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.46	−0.044%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.901%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.44	−0.057%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0065%	8h	142.43	−0.063%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0074%	8h	142.43	−0.063%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	142.56	+0.028%	$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	142.46	−0.041%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.39	−0.091%	$77.9M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	−0.253%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.14	−0.266%	$325K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.09	−0.304%	$63.4M	$189.5M	75x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	142.06	−0.323%	$60.9M	$68.3M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.04	−0.337%	$17.0M	$64.2M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.57	+0.035%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	+0.002%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.23	−0.203%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.24	−0.196%	$25.5M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.29	−0.161%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.17	−0.246%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.23	−0.203%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.41	−0.076%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	+0.125%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.99	+0.330%	$448K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.65	+0.091%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USDlong	+0.0100%	1h	142.52	long leg	$134K	$453K	10x
SunX AAVE-USDT	+0.0100%	8h	142.44	−0.056%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.46	−0.042%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.210%	$682K	$5.2M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.0101%	1h	142.46	−0.042%	$334K	$727K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.19	−0.230%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.50	−0.014%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.00	+0.337%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.53	+0.009%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.43	−0.063%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.53	+0.007%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.46	−0.045%	$111K	—	100x	as long as short
Lighter AAVE	+0.0296%	1h	142.33	−0.136%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.71	+0.133%	$785K	$2.8M	50x	as long as short