Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0152%/8h= −16.7% APRpaid last 24h −0.046%

Price spread now: HTX against GMX+0.099%7-day average −0.165% · you sell dearer than you buy

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.120%−$12 on $10k

Price spread, last 4 days (all we have)−0.331%−$33 · spread now +0.099%, 7d avg −0.165%

Together, before fees−0.452%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.264% dearer against GMX than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of −0.165%): +$26 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AAVE/USD [AAVE-USDC]	143.70	L +0.0252% / S −0.0362%	pay 0.0032% / 1h	45m 09s	$112K	—	100x
Short	HTX AAVE-USDT	143.85	0.0100	get 0.0100% / 8h	3h 45m	$693K	$5.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$32
Price spread: +0.099% → −0.165%: $26.38
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.62
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; HTX: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 4 min ago	9.17 bp	21.2 bp −$21	64.9 bp −$649	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	143.60	−0.075%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.61	−0.065%	$54K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.75	+0.032%	$220K	$397K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.71	+0.004%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.693%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.92	+0.151%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0041%	1h	143.56	−0.100%	$845K	$395K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.55	−0.109%	—	—	20x	as long as short
Phemex AAVEUSDT	+0.0051%	8h	143.68	−0.016%	$4.0M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	143.72	+0.012%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	143.90	+0.138%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.56	−0.101%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.63	−0.054%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.57	−0.092%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.74	+0.028%	$64.3M	$187.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.73	+0.019%	$61.8M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.74	+0.025%	$17.2M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.65	−0.037%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	+0.074%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.72	+0.012%	$8.1M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.75	+0.032%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.76	+0.039%	$10.6M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.66	−0.030%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.73	+0.019%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	−0.030%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.70	−0.003%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.62	−0.055%	$456K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.78	+0.053%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.66	−0.030%	$132K	$448K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.54	−0.116%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.75	+0.032%	$5K	$316K	10x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	143.85	+0.099%	$693K	$5.2M	75x
Extended AAVE-USD	+0.0104%	1h	143.70	−0.003%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.78	+0.052%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	143.62	−0.058%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0120%	1h	143.85	+0.102%	$338K	$720K	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.61	−0.065%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.70	−0.002%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	143.79	+0.059%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]long	L +0.0252% / S −0.0362%	1h	143.70	long leg	$112K	—	100x
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.79	+0.060%	$788K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0390%	1h	143.94	+0.165%	$79.2M	$36.7M	10x	as long as short