Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Lighter against Gate+0.139%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days−0.214%−$21 · spread now +0.139%, 7d avg +0.106%

Together, before fees−0.123%+ Points / potential airdropLighter: Season 3 · farm board−$12 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 0.032% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AAVE_USDT	140.68	0.0100	pay 0.0100% / 8h	5h 31m	$8.1M	$13.6M	75x
Short	Lighter AAVE	140.88	0.0096	get 0.0012% / 1h	31m 58s	$4.5M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee LighterbpOrdersPrice spread, now +0.139%Rate

Funding earned: −$0.84
Price spread: +0.139% → +0.106%: $3.24
Slippage, 4 orders: −$27.64
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.25
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 9 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 Gate live order book, 5 min ago	0.35 bp	11.9 bp −$12	27.2 bp −$272	46.1 bp −$4,613	52.4 bp −$26.2K
Sell Lighter live order book, 9 min ago	2.72 bp	8.5 bp −$9	22.0 bp −$220	54.3 bp −$5,431	doesn't fit

AAVE on 42 exchanges

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	−0.0105%	1h	140.66	−0.014%	$207K	$305K	50x	as long as short
SoDEX AAVE-USD	−0.0100%	1h	140.68	0.000%	$7K	$224K	10x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	140.49	−0.135%	$10K	$1K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.70	+0.013%	$101K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.72	+0.028%	$51K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.72	+0.026%	$78K	—	150x	as long as short
Bybit AAVEUSDT	+0.0016%	8h	140.61	−0.050%	$60.7M	$58.8M	75x	as long as short
Phoenix AAVE	+0.0028%	1h	141.30	+0.441%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.644%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.73	+0.036%	—	—	20x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AAVEUSDT	+0.0078%	8h	140.72	+0.028%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0085%	8h	140.62	−0.043%	$17K	$2K	10x	as long as short
Variational Omni AAVE	+0.0085%	8h	140.99	+0.220%	$3.7M	$711K	—	as long as short
Lighter AAVEshort	+0.0096%	1h	140.88	+0.139%	$4.5M	$2.2M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	140.60	−0.058%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.67	−0.007%	$809K	$305K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.82	+0.100%	$77.4M	$28.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.77	+0.062%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.70	+0.014%	$343K	$307K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.65	−0.023%	$63.3M	$160.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.63	−0.036%	$16.2M	$51.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.83	+0.107%	$94K	$205K	10x	as long as short
Gate AAVE_USDTlong	+0.0100%	8h	140.68	long leg	$8.1M	$13.6M	75x
MEXC AAVE_USDT	+0.0100%	8h	140.65	−0.021%	$22.3M	$22.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.69	+0.007%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.64	−0.028%	$29.0M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.63	−0.036%	—	$43.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	140.80	+0.085%	$385K	$598K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.18	+0.355%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.28	+0.426%	$447K	$3.1M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.94	+0.185%	$131K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.73	+0.036%	$133K	$365K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.72	+0.032%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.00	+0.230%	$638K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.19	+0.363%	$163K	$108K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.58	−0.071%	$909K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.64	−0.029%	$119K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	140.77	+0.065%	$171K	$212K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.68	0.000%	$3.2M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	140.60	−0.057%	$745K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	140.95	+0.195%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0308%	1h	140.77	+0.067%	$3.4M	$1.8M	50x	as long as short