Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya−0.034%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

Funding pays, the price is against you. Hyperliquid is 0.034% cheaper against Reya than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	142.44	0.0044	pay 0.0006% / 1h	40m 39s	—	—	20x
Short	Hyperliquid AAVE	142.39	0.0100	get 0.0013% / 1h	40m 39s	$77.9M	$37.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now −0.034%Rate

Funding earned: $11.73
Price spread: −0.034% → 0.000%: −$3.39
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$6.66
Costs to cover: 0.150%
Break-even: 11.0 days

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 3 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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 3 min ago	0.35 bp	7.2 bp −$7	12.8 bp −$128	doesn't fit	doesn't fit

Reya: 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 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	−0.0011%	1h	142.17	−0.188%	$828K	$402K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.15	−0.200%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.54	+0.071%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.45	+0.008%	$218K	$393K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.46	+0.014%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.846%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	142.44	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0065%	8h	142.43	−0.006%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0074%	8h	142.43	−0.006%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	142.19	−0.174%	$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	142.07	−0.260%	$13K	$4K	20x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	142.39	−0.034%	$77.9M	$37.1M	10x
Aster AAVEUSDT	+0.0100%	8h	142.17	−0.187%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.14	−0.209%	$325K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.14	−0.209%	$63.4M	$189.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.15	−0.202%	$61.0M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.17	−0.188%	$17.0M	$64.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.22	−0.153%	$63K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	+0.059%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.07	−0.259%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.09	−0.245%	$25.4M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.26	−0.125%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.09	−0.245%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.09	−0.245%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.41	−0.019%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	+0.182%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.99	+0.387%	$448K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.65	+0.149%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.52	+0.057%	$134K	$453K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.44	+0.001%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.46	+0.015%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.267%	$682K	$5.2M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.0101%	1h	142.46	+0.015%	$334K	$727K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.02	−0.290%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.50	+0.043%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.00	+0.394%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.20	−0.170%	$185K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.43	−0.006%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.53	+0.064%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.46	+0.012%	$111K	—	100x	as long as short
Lighter AAVE	+0.0296%	1h	142.33	−0.079%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.71	+0.191%	$785K	$2.8M	50x	as long as short