Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.045%

Price spread now: Hyperliquid against Bybit+0.141%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 7 days−0.116%−$12 · spread now +0.141%, 7d avg +0.080%

Together, before fees+0.007%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 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: Hyperliquid is 0.062% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	141.51	0.0100	pay 0.0100% / 8h	7h 58m	$60.9M	$69.4M	75x
Short	Hyperliquid AAVE	141.71	0.0100	get 0.0013% / 1h	58m 40s	$77.4M	$37.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.141%Rate

Funding earned: $0
Price spread: +0.141% → +0.080%: $6.17
Slippage, 4 orders: −$8.08
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$21.91
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Hyperliquid: live order book, 5 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 Bybit live order book, 5 min ago	0.35 bp	6.6 bp −$7	12.6 bp −$126	54.3 bp −$5,435	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.71 bp	6.5 bp −$6	11.8 bp −$118	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
dYdX AAVE-USD	0.0000%	1h	141.61	+0.070%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.49	−0.014%	$46K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.42	−0.064%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.215%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.34	−0.123%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0085%	8h	141.38	−0.092%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.76	+0.176%	$4.5M	$2.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.54	+0.025%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.37	−0.095%	$827K	$400K	10x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	141.71	+0.141%	$77.4M	$37.2M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AAVEUSDT	+0.0100%	8h	141.63	+0.088%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.58	+0.051%	$330K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.58	+0.047%	$63.7M	$192.6M	75x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	141.51	long leg	$60.9M	$69.4M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.50	−0.007%	$16.6M	$64.9M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.62	+0.078%	$92K	$222K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.51	0.000%	$8.1M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.60	+0.064%	$23.0M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.47	−0.028%	$10.3M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.59	+0.057%	$28.8M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.51	0.000%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.53	+0.011%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.28	−0.163%	$109K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.49	−0.017%	$452K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.24	−0.191%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.43	−0.057%	$134K	$484K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.36	−0.103%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.37	−0.099%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.40	−0.081%	$666K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.44	−0.049%	$3.9M	$3.6M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.32	−0.134%	$163K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.43	−0.060%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.43	−0.057%	$119K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0149%	1h	141.51	0.000%	$385K	$732K	10x	as long as short
Phoenix AAVE	+0.0152%	1h	141.70	+0.134%	$4K	$97K	10x	as long as short
01 Exchange AAVEUSD	+0.0192%	1h	141.47	−0.028%	$10K	$2K	5x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.70	+0.134%	$754K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.37	−0.099%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.53	+0.016%	$184K	$294K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0249%	1h	141.45	−0.040%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.41	−0.073%	$110K	—	100x	as long as short
Deribit AAVE_USDC-PERPETUAL	+0.0599%	1h	141.51	0.000%	$213K	$392K	50x	as long as short