Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya+0.264%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.264% dearer against Reya than usual: you sell high and buy low: +$26 more if the spread 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	Reya AAVERUSDPERP	143.61	0.0044	pay 0.0006% / 1h	35m 58s	—	—	20x
Short	Hyperliquid AAVE	143.99	0.0100	get 0.0013% / 1h	35m 58s	$77.9M	$35.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now +0.264%Rate

Funding earned: $11.73
Price spread: +0.264% → 0.000%: $26.44
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $23.18
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 8 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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 8 min ago	0.69 bp	6.0 bp −$6	12.6 bp −$126	doesn't fit	doesn't fit

Reya: 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
01 Exchange AAVEUSD	−0.0064%	1h	143.58	−0.021%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.59	−0.017%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.68	+0.049%	$60K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.84	+0.160%	$228K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.80	+0.132%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.631%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	143.76	+0.104%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	143.61	long leg	—	—	20x
Nado AAVE-PERP	+0.0072%	1h	143.65	+0.028%	$832K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.28	−0.230%	$5K	$98K	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	144.04	+0.302%	$4.6M	$1.5M	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0098%	8h	143.77	+0.111%	$17.2M	$63.5M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.59	−0.011%	$13K	$4K	20x	as long as short
Hyperliquid AAVEshort	+0.0100%	1h	143.99	+0.264%	$77.9M	$35.3M	10x
Aster AAVEUSDT	+0.0100%	8h	143.91	+0.206%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.57	−0.026%	$327K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.81	+0.139%	$64.4M	$182.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.81	+0.139%	$61.5M	$64.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.63	+0.014%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.56	−0.037%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.81	+0.139%	$7.9M	$15.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.85	+0.167%	$26.0M	$23.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.90	+0.202%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.85	+0.167%	$30.2M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.79	+0.125%	—	$43.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.00	+0.271%	$321K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.76	+0.102%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	−0.066%	$103K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.26	−0.245%	$455K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.31	−0.209%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.61	0.000%	$125K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.65	+0.028%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.84	+0.160%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.07	+0.318%	$695K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.85	+0.167%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.82	+0.146%	$913K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.82	+0.147%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.65	+0.029%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.38	−0.160%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.76	+0.101%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	143.94	+0.228%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.47	−0.098%	$776K	$2.8M	50x	as long as short