Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.012%

Price spread now: Lighter against BloFin+0.311%7-day average +0.114% · 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−$7as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 3 days (all we have)−0.337%−$34 · spread now +0.311%, 7d avg +0.114%

Together, before fees−0.475%+ Points / potential airdropLighter: Season 3 · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.198% dearer against BloFin than usual: you sell high and buy low (spread +0.311% now, against its 7-day average of +0.114%): +$20 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AAVE-USDT	144.16	0.0144	pay 0.0144% / 8h	6h 50m	$3.4M	$3.5M	100x
Short	Lighter AAVE	144.61	0.0096	get 0.0012% / 1h	50m 31s	$4.6M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.311%Rate

Funding earned: −$10.12
Price spread: +0.311% → +0.114%: $19.76
Slippage, 4 orders: −$15.02
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$17.38
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Lighter: live order book, 12 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 BloFin live order book, 3 min ago	0.69 bp	6.7 bp −$7	10.9 bp −$109	28.0 bp −$2,799	doesn't fit
Sell Lighter live order book, 12 min ago	3.41 bp	5.3 bp −$5	20.3 bp −$203	61.4 bp −$6,137	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
Deribit AAVE_USDC-PERPETUAL	−0.0305%	1h	144.18	+0.014%	$250K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	144.46	+0.208%	$11K	$2K	5x	as long as short
ApeX Omni AAVEUSDT	−0.0050%	1h	143.99	−0.118%	$134K	$230K	50x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.35	+0.132%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.34	+0.124%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.18	+0.014%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.27	+0.075%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.22	+0.042%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.994%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	144.44	+0.194%	$27.6M	$24.7M	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	+0.0037%	8h	144.46	+0.208%	$65.2M	$185.4M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0043%	8h	144.23	+0.049%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.37	+0.148%	—	—	20x	as long as short
SoDEX AAVE-USD	+0.0046%	1h	144.24	+0.055%	$5K	$302K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	144.46	+0.208%	$17.5M	$66.2M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.25	+0.059%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.49	+0.229%	$183K	$245K	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	144.61	+0.311%	$4.6M	$1.4M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.46	+0.209%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.35	+0.135%	$799K	$427K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.51	+0.243%	$78.5M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.41	+0.173%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.43	+0.185%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.45	+0.201%	$61.8M	$65.3M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.47	+0.215%	$45K	$236K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.56	+0.277%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.42	+0.180%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.49	+0.229%	$10.8M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.36	+0.139%	$29.9M	$18.1M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.44	+0.194%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.36	+0.139%	$327K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.23	+0.050%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.86	−0.206%	$104K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.95	−0.147%	$455K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.47	+0.215%	$125K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.22	+0.040%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.59	+0.300%	$702K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.30	+0.097%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.40	+0.166%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDTlong	+0.0144%	8h	144.16	long leg	$3.4M	$3.5M	100x
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.27	+0.080%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.29	+0.090%	$774K	$2.8M	50x	as long as short