Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.009%

Price spread now: Lighter against BingX+0.136%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

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

costs, in and out, $10k−$440.443% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.136%, 7d avg +0.110%

Together, before fees+0.039%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.025% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AAVE-USDC	145.83	0.0100	pay 0.0100% / 8h	7h 19m	—	$6.5M	—
Short	Lighter AAVE	146.03	0.0096	get 0.0012% / 1h	19m 00s	$4.7M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.136%Rate

Funding earned: −$0.84
Price spread: +0.136% → +0.110%: $2.54
Slippage, 4 orders: −$34.33
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$42.63
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Lighter: live order book, 4 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 BingX live order book, 2 min ago	0.68 bp	14.9 bp −$15	39.0 bp −$390	220.6 bp −$22.1K	608.7 bp −$304.3K
Sell Lighter live order book, 4 min ago	2.80 bp	8.6 bp −$9	18.3 bp −$183	53.8 bp −$5,377	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	146.01	+0.124%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.18	+0.240%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0094%	1h	145.90	+0.048%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.05	+0.151%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.28	+0.305%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.12	+0.199%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.58	+0.514%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.13	+0.206%	$71K	—	150x	as long as short
Gate AAVE_USDT	+0.0009%	8h	145.85	+0.014%	$7.9M	$15.3M	75x	as long as short
MEXC AAVE_USDT	+0.0021%	8h	145.80	−0.021%	$28.9M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0021%	8h	145.83	0.000%	$66.0M	$183.6M	75x	as long as short
Phemex AAVEUSDT	+0.0033%	8h	145.92	+0.062%	$4.2M	$3.8M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.082%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.05	+0.149%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.02	+0.130%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	145.80	−0.021%	$17.9M	$66.2M	50x	as long as short
Bybit AAVEUSDT	+0.0068%	8h	145.81	−0.014%	$62.4M	$65.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.501%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0085%	8h	146.04	+0.144%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.10	+0.187%	$123K	$146	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	146.03	+0.136%	$4.7M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	146.14	+0.211%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.14	+0.211%	$799K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.93	+0.070%	$79.5M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.00	+0.117%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.15	+0.222%	$334K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.17	+0.233%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	+0.361%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.86	+0.021%	$10.3M	$8.9M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.81	−0.014%	$30.2M	$17.9M	75x	as long as short
BingX AAVE-USDClong	+0.0100%	8h	145.83	long leg	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.93	+0.069%	$333K	$735K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	+0.419%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.46	+0.435%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.48	+0.446%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.13	+0.206%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.06	+0.154%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.429%	$711K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.98	+0.104%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.21	+0.257%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.13	+0.205%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.41	+0.398%	$785K	$2.9M	50x	as long as short