Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0129%/8h= +14.1% APRpaid last 24h +0.072%

Price spread now: Hyperliquid against Variational Omni+0.140%7-day average +0.082% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.107%+$11 on $10k

Price spread, last 7 days−0.090%−$9 · spread now +0.140%, 7d avg +0.082%

Together, before fees+0.017%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.058% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	146.32	0.0100	pay 0.0100% / 8h	54m 47s	$3.8M	$1.4M	—
Short	Hyperliquid AAVE	146.52	0.0229	get 0.0029% / 1h	54m 47s	$80.9M	$34.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.140%Rate

Funding earned: $27.13
Price spread: +0.140% → +0.082%: $5.84
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $23.98
Costs to cover: 0.090%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Hyperliquid: live order book, 9 min ago. 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 Variational Omni RFQ quote, 4 min ago	3.09 bp	doesn't fit	12.6 bp −$126	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.69 bp	6.5 bp −$7	7.2 bp −$72	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	−0.0045%	1h	146.30	−0.010%	$5K	$99K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.36	+0.031%	$256K	$412K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.27	−0.031%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.38	+0.044%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.45	+0.093%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.39	+0.051%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	146.43	+0.078%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	+0.0020%	1h	146.34	+0.017%	$5K	$298K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.394%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0042%	8h	146.32	+0.003%	$30.6M	$25.5M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0043%	8h	146.24	−0.055%	$66.6M	$185.0M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.34	+0.014%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.33	+0.010%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0069%	8h	146.20	−0.079%	$17.9M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	146.35	+0.024%	$7.9M	$15.8M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.35	+0.020%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.43	+0.078%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.39	+0.053%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.28	−0.024%	$809K	$438K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.41	+0.064%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.35	+0.022%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.20	−0.079%	$62.4M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.39	+0.051%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.359%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.34	+0.017%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.30	−0.010%	$30.6M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.32	+0.003%	—	$6.5M	—	as long as short
Variational Omni AAVElong	+0.0100%	8h	146.32	long leg	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	146.12	−0.133%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.17	−0.099%	$463K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.22	−0.065%	$136K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.45	+0.092%	$128K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.33	+0.011%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.096%	$701K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.29	−0.017%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	+0.001%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.43	+0.076%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0162%	8h	146.37	+0.037%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVEshort	+0.0229%	1h	146.52	+0.140%	$80.9M	$34.2M	10x
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.40	+0.056%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.078%	$795K	$3.0M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0337%	1h	146.44	+0.085%	$354K	$733K	10x	as long as short