Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.040%

Price spread now: HTX against Backpack−0.035%7-day average −0.160% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.543%−$54 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now −0.035%, 7d avg −0.160%

Together, before fees−0.618%−$62 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.125% dearer against Backpack than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.160%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	144.78	0.0100	pay 0.0013% / 1h	6m 47s	$331K	$589K	10x
Short	HTX AAVE-USDT	144.73	0.0100	get 0.0100% / 8h	4h 06m	$737K	$4.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.160%: $12.53
Slippage, 4 orders: −$29.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.35
Costs to cover: 0.519%
Break-even: never at this rate

Slippage from Backpack: live order book, 26 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 Backpack live order book, 26 min ago	0.35 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	9.77 bp	17.5 bp −$18	48.1 bp −$481	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
SoDEX AAVE-USD	−0.0149%	1h	144.65	−0.090%	$5K	$281K	10x	as long as short
01 Exchange AAVEUSD	−0.0024%	1h	144.77	−0.007%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.63	−0.104%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.71	−0.048%	$54K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	144.80	+0.014%	$4K	$92K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.74	−0.028%	$210K	$379K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.76	−0.014%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.401%	$422	$51K	12x	as long as short
OKX AAVE-USDT-SWAP	+0.0042%	8h	144.64	−0.097%	$18.1M	$63.2M	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.66	−0.084%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_AAVE_USDC	+0.0069%	8h	144.67	−0.076%	$18K	$12K	10x	as long as short
Bulk AAVE-USD	+0.0081%	1h	144.48	−0.207%	$61K	$2K	10x	as long as short
Variational Omni AAVE	+0.0094%	8h	144.67	−0.073%	$3.8M	$1.3M	—	as long as short
Lighter AAVE	+0.0096%	1h	144.87	+0.061%	$4.7M	$1.6M	10x	as long as short
Gate AAVE_USDT	+0.0096%	8h	144.68	−0.069%	$7.8M	$14.3M	75x	as long as short
MEXC AAVE_USDT	+0.0096%	8h	144.69	−0.062%	$32.8M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0097%	8h	144.69	−0.061%	$65.5M	$173.3M	75x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.65	−0.088%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.62	−0.111%	$825K	$428K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.77	−0.008%	$1.4M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.65	−0.087%	$338K	$482K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.65	−0.090%	$61.5M	$61.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.75	−0.021%	$61K	$382K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.72	−0.041%	$10.3M	$8.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.67	−0.076%	$30.0M	$16.8M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.65	−0.090%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERPlong	+0.0100%	1h	144.78	long leg	$331K	$589K	10x
edgeX AAVEUSDC	+0.0100%	4h	144.62	−0.108%	$98K	$311K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.69	−0.063%	$453K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.72	−0.041%	$135K	$235K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.76	−0.014%	$130K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.62	−0.113%	$1K	$1.2M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	144.73	−0.035%	$737K	$4.8M	75x
Phemex AAVEUSDT	+0.0100%	8h	144.72	−0.041%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.66	−0.083%	$928K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.72	−0.040%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0105%	1h	144.74	−0.025%	$189K	$236K	10x	as long as short
Hyperliquid AAVE	+0.0153%	1h	144.89	+0.076%	$81.4M	$28.8M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0208%	1h	144.69	−0.062%	$747K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0210%	1h	144.80	+0.014%	$3.5M	$2.2M	50x	as long as short
BloFin AAVE-USDT	+0.0217%	8h	144.67	−0.076%	$3.5M	$5.3M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0451%	1h	144.75	−0.019%	$127K	—	100x	as long as short