Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.278%

Price spread now: HTX against Deribit+0.102%7-day average −0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.102%, 7d avg −0.097%

Together, before fees−0.347%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.199% dearer against Deribit than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	141.95	0	get 0.0000% / 1h	1m 04s	$215K	$398K	50x
Short	HTX AAVE-USDT	142.09	0.0100	get 0.0100% / 8h	1h 01m	$673K	$5.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now +0.102%Rate

Funding earned: $21
Price spread: +0.102% → −0.097%: $19.95
Slippage, 4 orders: −$43.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$21.25
Costs to cover: 0.622%
Break-even: 14.1 days

Slippage from Deribit: live order book, 38 min ago; HTX: live order book, 3 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 Deribit live order book, 38 min ago	4.93 bp	8.4 bp −$8	14.5 bp −$145	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	0.14 bp	23.5 bp −$23	67.5 bp −$675	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	141.90	−0.038%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.92	−0.021%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	141.95	long leg	$215K	$398K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.93	−0.014%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.515%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.85	−0.069%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0070%	1h	141.90	−0.035%	$826K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0080%	8h	141.91	−0.028%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.11	+0.113%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.09	+0.101%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	141.90	−0.037%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.92	−0.021%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.94	−0.004%	$324K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.82	−0.088%	$63.7M	$188.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.82	−0.092%	$61.3M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.77	−0.127%	$16.9M	$63.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.00	+0.035%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.35	+0.282%	$161K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.90	−0.035%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.89	−0.042%	$24.3M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.97	+0.014%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.72	−0.162%	$28.9M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.88	−0.049%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.26	+0.218%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.99	+0.029%	$107K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.03	+0.056%	$443K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.08	+0.092%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.95	0.000%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.89	−0.039%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.95	0.000%	$5K	$285K	10x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	142.09	+0.102%	$673K	$5.3M	75x
Phemex AAVEUSDT	+0.0100%	8h	141.93	−0.014%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.90	−0.039%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.97	+0.017%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	141.94	−0.007%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0153%	1h	142.04	+0.060%	$77.7M	$36.9M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0167%	1h	142.00	+0.035%	$390K	$727K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.95	0.000%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.91	−0.025%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	141.96	+0.010%	$188K	$270K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.29	+0.240%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.02	+0.050%	$3.4M	$2.1M	50x	as long as short