Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.044%

Price spread now: Hyperliquid against Bybit−0.056%7-day average +0.079% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 7 days+0.069%+$7 · spread now −0.056%, 7d avg +0.079%

Together, before fees+0.191%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 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: Hyperliquid is 0.135% cheaper against Bybit than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	142.73	0.0100	pay 0.0100% / 8h	2h 22m	$61.2M	$68.2M	75x
Short	Hyperliquid AAVE	142.65	0.0100	get 0.0013% / 1h	22m 12s	$77.9M	$37.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → +0.079%: −$13.47
Slippage, 4 orders: −$12.32
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$45.79
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 11 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 Bybit live order book, 2 min ago	0.35 bp	9.2 bp −$9	15.8 bp −$158	63.0 bp −$6,296	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.35 bp	5.9 bp −$6	10.8 bp −$108	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
Deribit AAVE_USDC-PERPETUAL	−0.3324%	1h	142.18	−0.385%	$216K	$394K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.34	−0.271%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.46	−0.189%	$49K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.57	−0.109%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0028%	1h	142.56	−0.119%	$835K	$403K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.043%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.52	−0.145%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0069%	8h	142.62	−0.077%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.29	−0.305%	$13K	$4K	20x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	142.65	−0.056%	$77.9M	$37.1M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AAVEUSDT	+0.0100%	8h	142.68	−0.034%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.35	−0.266%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.69	−0.031%	$64.0M	$191.0M	75x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	142.73	long leg	$61.2M	$68.2M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.70	−0.021%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.55	−0.126%	$63K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.28	−0.315%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.58	−0.105%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.66	−0.049%	$25.1M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.68	−0.035%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.66	−0.049%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.57	−0.112%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.03	−0.489%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.94	−0.554%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.34	−0.273%	$454K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.04	−0.483%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.63	−0.070%	$141K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.59	−0.099%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.66	−0.049%	$5K	$314K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.95	+0.151%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.69	−0.028%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.62	−0.076%	$905K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	142.51	−0.154%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.67	−0.042%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.01	−0.504%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0139%	1h	142.33	−0.280%	$337K	$730K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.52	−0.150%	$191K	$253K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.17	−0.392%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	142.75	+0.015%	$3.4M	$2.1M	50x	as long as short
Lighter AAVE	+0.0248%	1h	142.87	+0.097%	$4.5M	$2.4M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.58	−0.103%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.57	−0.112%	$760K	$2.9M	50x	as long as short