Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Lighter−0.196%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.196%, 7d avg −0.111%

Together, before fees+0.062%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$6 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: Aster is 0.086% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	144.56	0.0096	pay 0.0012% / 1h	16m 11s	$4.6M	$1.6M	10x
Short	Aster AAVEUSDT	144.28	0.0100	get 0.0100% / 8h	2h 16m	$1.3M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.196%Rate

Funding earned: $0.84
Price spread: −0.196% → −0.111%: −$8.58
Slippage, 4 orders: −$24.07
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.81
Costs to cover: 0.321%
Break-even: 338.7 days

Slippage from Lighter: live order book, 7 min ago; Aster: live order book, 2 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 Lighter live order book, 7 min ago	2.49 bp	3.2 bp −$3	12.5 bp −$125	45.9 bp −$4,594	doesn't fit
Sell Aster live order book, 2 min ago	3.47 bp	11.4 bp −$11	22.7 bp −$227	doesn't fit	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	−0.0235%	1h	144.36	−0.140%	$254K	$494K	50x	as long as short
SoDEX AAVE-USD	−0.0171%	1h	144.35	−0.147%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0120%	1h	144.31	−0.175%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.27	−0.203%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.27	−0.204%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.36	−0.140%	$71K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.38	−0.125%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.47	−0.061%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.259%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.27	−0.204%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0048%	8h	144.35	−0.147%	$31.3M	$26.3M	200x	as long as short
Binance AAVEUSDT	+0.0048%	8h	144.37	−0.134%	$65.7M	$184.7M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	144.33	−0.161%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.37	−0.134%	$17.4M	$66.1M	50x	as long as short
Gate AAVE_USDT	+0.0053%	8h	144.36	−0.140%	$7.7M	$15.9M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0055%	1h	144.42	−0.099%	$134K	$230K	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0085%	8h	144.18	−0.267%	$455K	$3.9M	10x	as long as short
Nado AAVE-PERP	+0.0091%	1h	144.26	−0.206%	$800K	$436K	10x	as long as short
Lighter AAVElong	+0.0096%	1h	144.56	long leg	$4.6M	$1.6M	10x
Aevo AAVE-PERP	+0.0096%	1h	144.39	−0.120%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.27	−0.205%	$179K	$245K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.20	−0.254%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.51	−0.036%	$80.4M	$33.2M	10x	as long as short
Aster AAVEUSDTshort	+0.0100%	8h	144.28	−0.196%	$1.3M	$1.2M	50x
Pacifica AAVE	+0.0100%	1h	144.25	−0.218%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.40	−0.113%	$61.4M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.24	−0.223%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.41	−0.106%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.39	−0.120%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.37	−0.134%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.51	−0.037%	$377K	$704K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.27	−0.205%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.14	−0.293%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.36	−0.140%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.26	−0.211%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.70	+0.096%	$720K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.34	−0.154%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.33	−0.158%	$61K	$3K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.32	−0.167%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0168%	8h	144.18	−0.265%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.140%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.35	−0.148%	$124K	—	100x	as long as short