Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.011%

Price spread now: dYdX against HTX−0.059%7-day average +0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$351as in the Funding arb table

Net, price: spread back to 7d avg − costs−$405as in the Price arb table

costs, in and out, $10k−$3853.850% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now −0.059%, 7d avg +0.140%

Together, before fees+0.399%+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.199% cheaper against HTX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.140%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.337%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AAVE-USDT	142.98	0.0100	pay 0.0100% / 8h	4h 23m	$688K	$5.2M	75x
Short	dYdX AAVE-USD	142.89	0	get 0.0000% / 1h	23m 50s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$21
Price spread: −0.059% → +0.140%: −$19.91
Slippage, 4 orders: −$363.03
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$425.94
Costs to cover: 3.850%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; dYdX: live order book, 35 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 HTX live order book, 5 min ago	8.57 bp	22.1 bp −$22	80.2 bp −$802	doesn't fit	doesn't fit
Sell dYdX live order book, 35 min ago	82.64 bp	250.4 bp −$250	250.8 bp −$2,508	257.2 bp −$25.7K	534.6 bp −$267.3K

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
01 Exchange AAVEUSD	−0.0144%	1h	142.83	−0.103%	$10K	$2K	5x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	142.89	−0.059%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	142.86	−0.082%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.86	−0.082%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.87	−0.072%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0010%	1h	142.78	−0.138%	$841K	$446K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.208%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.80	−0.126%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	142.87	−0.075%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	143.03	+0.037%	$4K	$102K	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	142.97	−0.002%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.96	−0.015%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.97	−0.005%	$77.0M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.92	−0.042%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.90	−0.057%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.84	−0.097%	$63.9M	$186.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.84	−0.096%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.80	−0.124%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.96	−0.012%	$64K	$205K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	−0.068%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.88	−0.068%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.87	−0.075%	$25.2M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.88	−0.068%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.80	−0.124%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.85	−0.089%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.98	+0.002%	$337K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.60	−0.265%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.62	−0.253%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.67	−0.216%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.71	−0.187%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.88	−0.068%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.84	−0.093%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.87	−0.075%	$5K	$292K	10x	as long as short
HTX AAVE-USDTlong	+0.0100%	8h	142.98	long leg	$688K	$5.2M	75x
Phemex AAVEUSDT	+0.0100%	8h	142.81	−0.117%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.77	−0.146%	$896K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.88	−0.071%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.91	−0.047%	$178K	$242K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.80	−0.124%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.87	−0.075%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.95	−0.021%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.95	−0.019%	$793K	$2.8M	50x	as long as short