Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.033%

Price spread now: Lighter against Bybit+0.156%7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$14 on $10k

Price spread, last 7 days−0.004%$0 · spread now +0.156%, 7d avg +0.120%

Together, before fees+0.131%+ Points / potential airdropLighter: Season 3 · farm board+$13 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 0.036% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.120%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	145.77	0.0100	pay 0.0100% / 8h	6m 42s	$62.2M	$66.0M	75x
Short	Lighter AAVE	146.00	0.0096	get 0.0012% / 1h	6m 42s	$4.7M	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.156%Rate

Funding earned: −$0.84
Price spread: +0.156% → +0.120%: $3.58
Slippage, 4 orders: −$16.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$24.69
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Lighter: live order book, 6 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 Bybit live order book, 2 min ago	0.34 bp	8.7 bp −$9	17.2 bp −$172	77.1 bp −$7,706	doesn't fit
Sell Lighter live order book, 6 min ago	2.22 bp	3.9 bp −$4	18.3 bp −$183	54.1 bp −$5,411	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
SoDEX AAVE-USD	−0.0126%	1h	145.68	−0.062%	$5K	$305K	10x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	145.55	−0.151%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.87	+0.069%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.84	+0.047%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.89	+0.082%	$83K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.68	−0.062%	$254K	$391K	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.79	+0.012%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.68	−0.060%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0029%	8h	145.75	−0.012%	$66.5M	$187.5M	75x	as long as short
MEXC AAVE_USDT	+0.0030%	8h	145.78	+0.007%	$29.7M	$26.1M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.044%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.55	−0.148%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.59	−0.123%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	145.74	−0.021%	$17.9M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0073%	8h	145.79	+0.014%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.71	−0.038%	$123K	$146	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	146.00	+0.156%	$4.7M	$1.6M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	145.73	−0.027%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.56	−0.141%	$801K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.90	+0.091%	$80.4M	$34.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.77	−0.001%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.79	+0.017%	$333K	$504K	10x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	145.77	long leg	$62.2M	$66.0M	75x
Arcus AAVE-USD	+0.0100%	1h	145.77	0.000%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.125%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.73	−0.027%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.77	0.000%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.73	−0.027%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.86	+0.062%	$346K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.93	+0.112%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.63	−0.098%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.55	−0.153%	$457K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.64	−0.089%	$135K	$230K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.60	−0.117%	$127K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.57	−0.134%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.07	+0.206%	$689K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.86	+0.062%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.73	−0.030%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.63	−0.099%	$184K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0121%	8h	145.56	−0.144%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.67	−0.067%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.92	+0.103%	$787K	$3.0M	50x	as long as short