Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.033%

Price spread now: Bybit against Lighter−0.132%7-day average −0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$14 on $10k

Price spread, last 7 days−0.041%−$4 · spread now −0.132%, 7d avg −0.120%

Together, before fees−0.176%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	145.24	0.0096	pay 0.0012% / 1h	17m 08s	$4.7M	$1.6M	10x
Short	Bybit AAVEUSDT	145.05	0.0100	get 0.0100% / 8h	1h 17m	$61.6M	$65.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0.84
Price spread: −0.132% → −0.120%: −$1.24
Slippage, 4 orders: −$15.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.39
Costs to cover: 0.270%
Break-even: 235.3 days

Slippage from Lighter: live order book, 6 min ago; Bybit: 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, 6 min ago	1.93 bp	2.0 bp −$2	7.2 bp −$72	35.3 bp −$3,532	doesn't fit
Sell Bybit live order book, 2 min ago	0.34 bp	8.4 bp −$8	14.0 bp −$140	55.4 bp −$5,537	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
01 Exchange AAVEUSD	−0.0144%	1h	145.01	−0.160%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0095%	1h	145.01	−0.160%	$255K	$465K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	145.16	−0.056%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0042%	1h	145.00	−0.167%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.06	−0.128%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.13	−0.077%	$68K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.02	−0.156%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.702%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	145.01	−0.160%	$30.8M	$25.9M	200x	as long as short
Binance AAVEUSDT	+0.0036%	8h	145.02	−0.153%	$66.1M	$185.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.93	−0.217%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.06	−0.127%	$180K	$243K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.96	−0.194%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	145.05	−0.132%	$17.6M	$66.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.12	−0.087%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0062%	8h	144.97	−0.187%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.05	−0.132%	$123K	$146	10x	as long as short
Lighter AAVElong	+0.0096%	1h	145.24	long leg	$4.7M	$1.6M	10x
GRVT AAVE_USDT_Perp	+0.0098%	8h	145.13	−0.079%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.94	−0.206%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.99	−0.174%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.11	−0.091%	$79.7M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.07	−0.121%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.00	−0.166%	$331K	$504K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	145.05	−0.132%	$61.6M	$65.8M	75x
Arcus AAVE-USD	+0.0100%	1h	145.02	−0.153%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	−0.116%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.02	−0.153%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.06	−0.125%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.03	−0.146%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.15	−0.063%	$347K	$726K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.06	−0.127%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.08	−0.111%	$104K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.08	−0.112%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.05	−0.132%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.99	−0.171%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.25	+0.007%	$696K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.98	−0.180%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.96	−0.195%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0145%	8h	144.99	−0.174%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.01	−0.157%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	145.06	−0.125%	$787K	$3.0M	50x	as long as short