Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.046%

Price spread now: Hyperliquid against Binance+0.075%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days−0.065%−$6 · spread now +0.075%, 7d avg +0.053%

Together, before fees+0.014%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.022% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AAVEUSDT	146.44	0.0023	pay 0.0023% / 8h	7h 15m	$66.3M	$183.4M	75x
Short	Hyperliquid AAVE	146.55	0.0100	get 0.0013% / 1h	15m 12s	$79.9M	$35.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.075%Rate

Funding earned: $16.14
Price spread: +0.075% → +0.053%: $2.21
Slippage, 4 orders: −$8.39
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$9.04
Costs to cover: 0.274%
Break-even: 10.9 days

Slippage from Binance: live order book, 13 min ago; Hyperliquid: live order book, 8 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 Binance live order book, 13 min ago	0.34 bp	7.6 bp −$8	13.5 bp −$135	37.5 bp −$3,748	169.6 bp −$84.8K
Sell Hyperliquid live order book, 8 min ago	1.70 bp	6.3 bp −$6	11.0 bp −$110	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.59	+0.105%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.37	−0.048%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0082%	1h	146.44	0.000%	$5K	$295K	10x	as long as short
Phemex AAVEUSDT	−0.0070%	8h	146.42	−0.014%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.47	+0.020%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.55	+0.075%	$105K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.43	−0.007%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.33	−0.075%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.51	+0.047%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0022%	8h	146.42	−0.014%	$28.9M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDTlong	+0.0023%	8h	146.44	long leg	$66.3M	$183.4M	75x
ApeX Omni AAVEUSDT	+0.0024%	1h	146.19	−0.171%	$136K	$231K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.474%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.41	−0.022%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.43	−0.007%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.40	−0.027%	$17.9M	$66.4M	50x	as long as short
Gate AAVE_USDT	+0.0077%	8h	146.48	+0.027%	$7.9M	$15.3M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.46	+0.013%	$124K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0093%	8h	146.39	−0.034%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.66	+0.152%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.50	+0.041%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.49	+0.031%	$801K	$423K	10x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	146.55	+0.075%	$79.9M	$35.4M	10x
Aster AAVEUSDT	+0.0100%	8h	146.49	+0.034%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.53	+0.061%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.42	−0.014%	$62.7M	$65.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.45	+0.007%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.446%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.52	+0.055%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.40	−0.027%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.44	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.55	+0.075%	$332K	$736K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.114%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.09	−0.241%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.19	−0.171%	$462K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.52	+0.055%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.41	−0.018%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.77	+0.228%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.40	−0.029%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.48	+0.026%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.49	+0.034%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	−0.014%	$785K	$2.9M	50x	as long as short