Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.001%

Price spread now: Injective against Bybit−5.159%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.159% cheaper against Bybit than usual: you would sell low and buy high (−$516 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	144.41	0.0100	pay 0.0100% / 8h	5h 59m	$61.8M	$63.9M	75x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	59m 11s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.159%Rate

Funding earned: −$14
Price spread: −5.159% → 0.000%: −$515.89
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$540.91
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Injective: no order-book sample. 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 Bybit live order book, 5 min ago	0.35 bp	8.0 bp −$8	15.6 bp −$156	57.0 bp −$5,700	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
01 Exchange AAVEUSD	−0.0072%	1h	144.46	+0.035%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.50	+0.060%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.44	+0.021%	$72K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.38	−0.021%	$245K	$370K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.40	−0.007%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.51	+0.069%	$5K	$89K	10x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−5.159%	$422	$51K	12x
Reya AAVERUSDPERP	+0.0044%	1h	144.35	−0.045%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.36	−0.035%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0088%	8h	144.40	−0.007%	$17.3M	$63.9M	50x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0090%	8h	144.42	+0.007%	$26.5M	$23.4M	200x	as long as short
Binance AAVEUSDT	+0.0091%	8h	144.42	+0.007%	$65.1M	$181.7M	75x	as long as short
Lighter AAVE	+0.0096%	1h	144.63	+0.150%	$4.6M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.51	+0.071%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.47	+0.042%	$804K	$414K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.53	+0.083%	$78.2M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.40	−0.006%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.56	+0.106%	$329K	$433K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	144.41	long leg	$61.8M	$63.9M	75x
Arcus AAVE-USD	+0.0100%	1h	144.53	+0.083%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.45	+0.028%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.44	+0.021%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.48	+0.048%	$30.1M	$17.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.41	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.51	+0.069%	$323K	$718K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.37	−0.028%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.36	−0.032%	$104K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.47	+0.044%	$453K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.44	+0.021%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.43	+0.014%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.43	+0.016%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.38	−0.021%	$5K	$291K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.54	+0.089%	$700K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.39	−0.014%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	−0.239%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.34	−0.050%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.42	+0.007%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.54	+0.088%	$200K	$229K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0256% / S −0.0403%	1h	144.39	−0.017%	$125K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0266%	1h	144.50	+0.062%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.62	+0.145%	$777K	$2.8M	50x	as long as short