Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.075%

Price spread now: GMX against HTX−0.147%7-day average +0.165% · you buy dearer than you sell

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.379%+$38 · spread now −0.147%, 7d avg +0.165%

Together, before fees+0.482%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.312% cheaper against HTX than usual: you would sell low and buy high (spread −0.147% now, against its 7-day average of +0.165%). If the spread goes back, that is −$31 on $10k: about 4.0 days of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.103% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AAVE-USDT	143.31	0.0100	pay 0.0100% / 8h	3h 28m	$686K	$5.2M	75x
Short	GMX AAVE/USD [AAVE-USDC]	143.10	L +0.0252% / S −0.0362%	get 0.0045% / 1h	28m 19s	$112K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now −0.147%Rate

Funding earned: $55.05
Price spread: −0.147% → +0.165%: −$31.17
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.11
Costs to cover: 0.240%
Break-even: 7.0 days

Slippage unknown: HTX: live order book, 1 min ago; GMX: 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 HTX live order book, 1 min ago	10.42 bp	16.6 bp −$17	53.6 bp −$536	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
dYdX AAVE-USD	0.0000%	1h	143.27	−0.023%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.24	−0.047%	$52K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.07	−0.165%	$219K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.10	−0.145%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.429%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.58	+0.191%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0036%	1h	143.08	−0.155%	$836K	$398K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.06	−0.173%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	143.05	−0.179%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0058%	8h	143.09	−0.151%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0088%	1h	143.26	−0.033%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.18	−0.088%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.16	−0.105%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.27	−0.023%	$328K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.06	−0.172%	$63.9M	$188.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.07	−0.165%	$61.5M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.06	−0.172%	$17.1M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.30	−0.005%	$64K	$200K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.09	−0.151%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.09	−0.151%	$25.6M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.15	−0.110%	$10.4M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.99	−0.221%	$29.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.08	−0.158%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	+0.246%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.48	+0.118%	$104K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.58	+0.187%	$452K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.53	+0.156%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.20	−0.075%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.11	−0.136%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.14	−0.117%	$5K	$309K	10x	as long as short
HTX AAVE-USDTlong	+0.0100%	8h	143.31	long leg	$686K	$5.2M	75x
Bulk AAVE-USD	+0.0100%	1h	143.31	+0.002%	$58K	$2K	10x	as long as short
Lighter AAVE	+0.0104%	1h	143.28	−0.018%	$4.5M	$2.3M	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.00	−0.215%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.10	−0.143%	$121K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0110%	1h	143.40	+0.065%	$337K	$720K	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.25	−0.042%	$185K	$252K	10x	as long as short
Hyperliquid AAVE	+0.0211%	1h	143.30	−0.005%	$78.5M	$37.0M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.33	+0.016%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0247%	1h	143.15	−0.106%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]short	L +0.0252% / S −0.0362%	1h	143.10	−0.147%	$112K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.68	+0.260%	$788K	$2.8M	50x	as long as short