Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h +0.013%

Price spread now: HTX against Kraken Futures+0.009%7-day average −0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.385%−$38 on $10k

Price spread, last 4 days (all we have)−0.253%−$25 · spread now +0.009%, 7d avg −0.145%

Together, before fees−0.638%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.154% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.145%): +$15 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AAVEUSD	141.26	0.0249	pay 0.0031% / 1h	36m 59s	$3.4M	$2.1M	50x
Short	HTX AAVE-USDT	141.28	0.0100	get 0.0100% / 8h	7h 36m	$665K	$5.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Kraken Futures. 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 Kraken FuturesbpFee HTXbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$31.28
Price spread: +0.009% → −0.145%: $15.37
Slippage, 4 orders: −$49.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$87.27
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; HTX: live order book, 2 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 Kraken Futures live order book, 2 min ago	3.18 bp	12.3 bp −$12	18.1 bp −$181	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	10.16 bp	23.3 bp −$23	56.2 bp −$562	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	141.21	−0.035%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.23	−0.023%	$52K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.23	−0.023%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.24	−0.013%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.046%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.24	−0.014%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0088%	8h	141.21	−0.037%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	141.36	+0.069%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	141.54	+0.196%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.27	+0.006%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0100%	1h	141.29	+0.023%	$826K	$402K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.32	+0.041%	$77.1M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.16	−0.076%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.33	+0.048%	$329K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.05	−0.150%	$63.4M	$191.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.07	−0.136%	$60.8M	$69.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.04	−0.158%	$16.6M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.41	+0.104%	$94K	$224K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.17	−0.068%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.14	−0.087%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.15	−0.080%	$22.8M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.15	−0.080%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.12	−0.101%	$28.7M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.08	−0.129%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.16	−0.071%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.14	−0.085%	$109K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.19	−0.051%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.20	−0.044%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.32	+0.041%	$134K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.28	+0.015%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.17	−0.066%	$5K	$299K	10x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	141.28	+0.009%	$665K	$5.3M	75x
Phemex AAVEUSDT	+0.0100%	8h	141.27	+0.005%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.08	−0.131%	$907K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.24	−0.015%	$119K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0179%	1h	141.30	+0.026%	$384K	$732K	10x	as long as short
Lighter AAVE	+0.0200%	1h	141.41	+0.104%	$4.5M	$2.5M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.22	−0.030%	$753K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.21	−0.037%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.35	+0.060%	$171K	$299K	10x	as long as short
Kraken Futures PF_AAVEUSDlong	+0.0249%	1h	141.26	long leg	$3.4M	$2.1M	50x
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.24	−0.013%	$110K	—	100x	as long as short