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 −0.009%

Price spread now: BingX against Lighter−0.143%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.014%−$1 · spread now −0.143%, 7d avg −0.110%

Together, before fees−0.052%+ Points / potential airdropLighter: Season 3 · farm board−$5 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: BingX is 0.032% cheaper against Lighter than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	146.29	0.0096	pay 0.0012% / 1h	30m 22s	$4.7M	$1.6M	10x
Short	BingX AAVE-USDC	146.08	0.0100	get 0.0100% / 8h	30m 22s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0.84
Price spread: −0.143% → −0.110%: −$3.25
Slippage, 4 orders: −$32.06
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$44.46
Costs to cover: 0.421%
Break-even: 377.5 days

Slippage from Lighter: live order book, 2 min ago; BingX: live order book, 5 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, 2 min ago	2.73 bp	3.9 bp −$4	12.2 bp −$122	40.9 bp −$4,086	doesn't fit
Sell BingX live order book, 5 min ago	0.68 bp	14.8 bp −$15	39.0 bp −$390	255.0 bp −$25.5K	650.1 bp −$325.1K

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	−0.0160%	1h	146.15	−0.095%	$255K	$394K	50x	as long as short
SoDEX AAVE-USD	−0.0076%	1h	146.12	−0.116%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.34	+0.035%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0008%	1h	146.13	−0.109%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.13	−0.107%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.15	−0.095%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.24	−0.030%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.15	−0.098%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.377%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0040%	8h	146.10	−0.129%	$30.4M	$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	+0.0040%	8h	146.07	−0.150%	$66.6M	$185.9M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.07	−0.148%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.07	−0.150%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	146.06	−0.157%	$18.0M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0078%	8h	146.11	−0.122%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.15	−0.093%	$123K	$146	10x	as long as short
Lighter AAVElong	+0.0096%	1h	146.29	long leg	$4.7M	$1.6M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	146.05	−0.161%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.09	−0.133%	$804K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.28	−0.009%	$80.7M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.15	−0.096%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.10	−0.129%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.09	−0.136%	$62.3M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.09	−0.136%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.07	−0.150%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.09	−0.136%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.02	−0.184%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDCshort	+0.0100%	8h	146.08	−0.143%	—	$6.5M	—
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.25	−0.027%	$348K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.17	−0.083%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.18	−0.074%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.26	−0.022%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.19	−0.068%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.14	−0.102%	$128K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.11	−0.121%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.21	−0.053%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.19	−0.068%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.02	−0.187%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.14	−0.101%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0161%	8h	146.20	−0.061%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.14	−0.104%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.33	+0.028%	$788K	$3.0M	50x	as long as short