Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.010%

Price spread now: Lighter against KuCoin+0.038%7-day average +0.102% · 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−$51as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.038%, 7d avg +0.102%

Together, before fees+0.091%+ Points / potential airdropLighter: Season 3 · farm board+$9 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 0.064% cheaper against KuCoin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	142.40	0.0100	pay 0.0100% / 8h	1h 06m	$10.2M	$9.5M	75x
Short	Lighter AAVE	142.45	0.0096	get 0.0012% / 1h	6m 16s	$4.5M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$0.84
Price spread: +0.038% → +0.102%: −$6.36
Slippage, 4 orders: −$32.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$51.6
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from KuCoin: 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 KuCoin live order book, 2 min ago	1.05 bp	15.6 bp −$16	32.2 bp −$322	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	2.66 bp	6.5 bp −$7	24.0 bp −$240	55.1 bp −$5,511	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
dYdX AAVE-USD	0.0000%	1h	142.43	+0.019%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.43	+0.021%	$50K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.31	−0.063%	$215K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.33	−0.048%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.820%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.29	−0.079%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0069%	1h	142.34	−0.039%	$829K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0080%	8h	142.30	−0.070%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.48	+0.056%	$4K	$108K	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	142.45	+0.038%	$4.5M	$2.5M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.36	−0.030%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.44	+0.027%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.42	+0.017%	$325K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.34	−0.040%	$64.0M	$188.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.32	−0.056%	$61.5M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.27	−0.091%	$17.0M	$64.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.48	+0.056%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.35	−0.035%	$161K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.36	−0.028%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.35	−0.035%	$24.4M	$24.1M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	142.40	long leg	$10.2M	$9.5M	75x
Bitget AAVEUSDT	+0.0100%	8h	142.33	−0.049%	$29.1M	$17.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.36	−0.028%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.30	−0.071%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.14	−0.185%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.20	−0.140%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.13	−0.190%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.42	+0.014%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.38	−0.011%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.27	−0.091%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.49	+0.066%	$674K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.29	−0.077%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.20	−0.140%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.28	−0.081%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.45	+0.035%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0163%	1h	142.60	+0.140%	$391K	$727K	10x	as long as short
Hyperliquid AAVE	+0.0166%	1h	142.50	+0.070%	$77.9M	$36.9M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.43	+0.021%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.48	+0.053%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.45	+0.033%	$189K	$270K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.29	−0.077%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.36	−0.025%	$3.4M	$2.1M	50x	as long as short