Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.025%

Price spread now: Bulk against Hyperliquid−0.036%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.036% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AAVE	145.19	0.0100	pay 0.0013% / 1h	43m 21s	$81.2M	$32.5M	10x
Short	Bulk AAVE-USD	145.14	0.0100	get 0.0013% / 1h	43m 21s	$61K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Hyperliquid. 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 HyperliquidbpFee BulkbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → 0.000%: −$3.65
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$19.65
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Bulk: no order-book sample. 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 Hyperliquid live order book, 10 min ago	0.69 bp	6.5 bp −$7	12.1 bp −$121	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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
Deribit AAVE_USDC-PERPETUAL	−0.0370%	1h	145.03	−0.110%	$250K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0187%	1h	145.11	−0.055%	$5K	$311K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.09	−0.069%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	145.05	−0.096%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	−0.091%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.06	−0.090%	$74K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.09	−0.065%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	145.27	+0.053%	$3.5M	$2.0M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.668%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0037%	1h	144.98	−0.145%	$135K	$229K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	145.01	−0.122%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	145.01	−0.124%	$17.6M	$65.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	145.02	−0.117%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0060%	8h	145.02	−0.117%	$7.7M	$15.6M	75x	as long as short
Binance AAVEUSDT	+0.0076%	8h	144.99	−0.138%	$65.9M	$182.0M	75x	as long as short
MEXC AAVE_USDT	+0.0076%	8h	145.01	−0.124%	$32.1M	$26.1M	200x	as long as short
Nado AAVE-PERP	+0.0083%	1h	145.07	−0.084%	$805K	$444K	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.20	+0.005%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	145.06	−0.088%	$123K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	145.13	−0.040%	$181K	$242K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	144.97	−0.151%	$460K	$4.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.06	−0.087%	$14K	$4K	20x	as long as short
Hyperliquid AAVElong	+0.0100%	1h	145.19	long leg	$81.2M	$32.5M	10x
Aster AAVEUSDT	+0.0100%	8h	145.08	−0.074%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.02	−0.120%	$331K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.05	−0.096%	$61.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.08	−0.076%	$50K	$274K	10x	as long as short
Bulk AAVE-USDshort	+0.0100%	1h	145.14	−0.036%	$61K	$3K	10x
KuCoin AAVEUSDTM	+0.0100%	8h	145.06	−0.090%	$10.1M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.04	−0.103%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.02	−0.117%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.23	+0.028%	$381K	$703K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.12	−0.051%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.93	−0.177%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.13	−0.041%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.11	−0.058%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.28	+0.065%	$737K	$4.8M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.15	−0.028%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.05	−0.094%	$936K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0196%	8h	144.90	−0.200%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	145.44	+0.172%	$782K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	145.07	−0.084%	$125K	—	100x	as long as short