Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.040%

Price spread now: HTX against Backpack+0.124%7-day average −0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.543%−$54 on $10k

Price spread, last 3 days (all we have)−0.187%−$19 · spread now +0.124%, 7d avg −0.152%

Together, before fees−0.730%−$73 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: HTX is 0.276% dearer against Backpack than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of −0.152%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	145.91	0.0100	pay 0.0013% / 1h	25m 26s	$347K	$745K	10x
Short	HTX AAVE-USDT	146.09	0.0100	get 0.0100% / 8h	25m 26s	$691K	$5.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → −0.152%: $27.63
Slippage, 4 orders: −$30.79
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$25.16
Costs to cover: 0.528%
Break-even: never at this rate

Slippage from Backpack: live order book, 53 min ago; HTX: live order book, 4 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 Backpack live order book, 53 min ago	0.34 bp	6.0 bp −$6	68.8 bp −$688	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	11.07 bp	22.6 bp −$23	56.8 bp −$568	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
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.80	−0.075%	$255K	$394K	50x	as long as short
SoDEX AAVE-USD	−0.0061%	1h	145.79	−0.082%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	145.94	+0.021%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	145.76	−0.103%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.77	−0.096%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.84	−0.048%	$83K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.88	−0.021%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.84	−0.048%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.134%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0041%	8h	145.74	−0.117%	$30.0M	$25.9M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0041%	8h	145.76	−0.104%	$66.4M	$186.1M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.76	−0.101%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	145.79	−0.082%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	145.78	−0.089%	$17.9M	$67.6M	50x	as long as short
Gate AAVE_USDT	+0.0075%	8h	145.77	−0.096%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.82	−0.059%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.96	+0.035%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.75	−0.109%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.72	−0.134%	$802K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.94	+0.021%	$80.5M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.83	−0.054%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.78	−0.087%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.76	−0.103%	$62.1M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.75	−0.110%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	+0.110%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.75	−0.110%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.79	−0.082%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.80	−0.075%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	145.91	long leg	$347K	$745K	10x
Variational Omni AAVE	+0.0100%	8h	146.07	+0.108%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.08	+0.115%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.03	+0.084%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.07	+0.110%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.82	−0.062%	$127K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.087%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	146.09	+0.124%	$691K	$5.1M	75x
Phemex AAVEUSDT	+0.0100%	8h	145.82	−0.062%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.69	−0.148%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.81	−0.070%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	146.06	+0.103%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.83	−0.055%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.01	+0.069%	$786K	$3.0M	50x	as long as short