Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.277%

Price spread now: HTX against Deribit+0.191%7-day average −0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.413%−$41 · spread now +0.191%, 7d avg −0.115%

Together, before fees−0.448%−$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.306% dearer against Deribit than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.115%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	146.34	0	get 0.0000% / 1h	45m 25s	$256K	$406K	50x
Short	HTX AAVE-USDT	146.62	0.0100	get 0.0100% / 8h	45m 25s	$702K	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now +0.191%Rate

Funding earned: $21
Price spread: +0.191% → −0.115%: $30.62
Slippage, 4 orders: −$35.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$2.7
Costs to cover: 0.543%
Break-even: 7.9 days

Slippage from Deribit: live order book, 29 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 Deribit live order book, 29 min ago	5.17 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	8.47 bp	17.7 bp −$18	54.5 bp −$545	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
Phoenix AAVE	−0.0027%	1h	146.19	−0.103%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.08	−0.177%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.17	−0.116%	$83K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	146.34	long leg	$256K	$406K	50x
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.41	+0.048%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.35	+0.009%	$71K	—	150x	as long as short
SoDEX AAVE-USD	+0.0024%	1h	146.32	−0.014%	$5K	$298K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.410%	$422	$51K	12x	as long as short
01 Exchange AAVEUSD	+0.0040%	1h	146.08	−0.178%	$11K	$2K	5x	as long as short
MEXC AAVE_USDT	+0.0044%	8h	146.03	−0.212%	$30.7M	$25.7M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	146.04	−0.208%	—	—	20x	as long as short
Binance AAVEUSDT	+0.0045%	8h	146.03	−0.212%	$66.6M	$185.4M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.32	−0.014%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0071%	8h	146.03	−0.212%	$17.8M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0079%	8h	146.05	−0.198%	$7.8M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.36	+0.011%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.26	−0.055%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.02	−0.216%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.00	−0.229%	$808K	$439K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.11	−0.158%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.06	−0.190%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.04	−0.205%	$62.3M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.05	−0.198%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.49	+0.104%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.15	−0.130%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.01	−0.226%	$30.5M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.05	−0.198%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.38	+0.025%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.29	−0.037%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.32	−0.014%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.94	−0.273%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.12	−0.150%	$128K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.32	−0.012%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	146.62	+0.191%	$702K	$5.0M	75x
Phemex AAVEUSDT	+0.0100%	8h	146.28	−0.041%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.98	−0.247%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.09	−0.174%	$186K	$246K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0154%	1h	146.45	+0.075%	$360K	$737K	10x	as long as short
BloFin AAVE-USDT	+0.0164%	8h	145.94	−0.273%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0169%	1h	146.24	−0.068%	$80.7M	$34.5M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.36	+0.015%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.062%	$795K	$3.0M	50x	as long as short