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 −0.001%

Price spread now: Lighter against edgeX+0.059%49s7-day average +0.134% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.319% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.059%, 7d avg +0.134%

Together, before fees−0.024%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$2 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 0.076% cheaper against edgeX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.134%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX AAVEUSDC	146.46	0.0100	pay 0.0050% / 4h	3h 16m	$106K	$317K	20x
Short	Lighter AAVE	146.55	0.0096	get 0.0012% / 1h	16m 30s	$4.7M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$0.84
Price spread: +0.059% → +0.134%: −$7.56
Slippage, 4 orders: −$22.94
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.34
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from edgeX: live order book, 57 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 edgeX live order book, 57 min ago	3.76 bp	8.6 bp −$9	13.6 bp −$136	doesn't fit	doesn't fit
Sell Lighter live order book, 6 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	−0.0184%	1h	146.18	−0.197%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.39	−0.051%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0097%	1h	146.04	−0.289%	$5K	$305K	10x	as long as short
Phemex AAVEUSDT	−0.0048%	8h	146.10	−0.249%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.08	−0.262%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.31	−0.108%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.17	−0.201%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.33	−0.091%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.12	−0.236%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0022%	8h	146.40	−0.044%	$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	+0.0022%	8h	146.34	−0.083%	$66.3M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.489%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.04	−0.288%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.04	−0.289%	$18K	$10K	10x	as long as short
Gate AAVE_USDT	+0.0057%	8h	146.40	−0.044%	$7.9M	$15.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.32	−0.098%	$17.9M	$66.4M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.066%	$136K	$231K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.12	−0.236%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0088%	8h	146.04	−0.289%	$3.5M	$3.5M	100x	as long as short
Lighter AAVEshort	+0.0096%	1h	146.55	+0.059%	$4.7M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	146.37	−0.066%	$14K	$4K	20x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.34	−0.085%	$62.7M	$65.0M	75x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.34	−0.085%	$800K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.43	−0.023%	$79.8M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.29	−0.116%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.37	−0.067%	$334K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.39	−0.051%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.463%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.35	−0.078%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.32	−0.098%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.36	−0.071%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.21	−0.173%	$334K	$735K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.44	−0.016%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDClong	+0.0100%	4h	146.46	long leg	$106K	$317K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.48	+0.011%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.22	−0.167%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.13	−0.225%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.43	−0.021%	$712K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.32	−0.099%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.42	−0.031%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.10	−0.247%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.41	−0.037%	$785K	$2.9M	50x	as long as short