AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0256%/8h= −28.0% APRnext payment −$0.32 per $10,000 · paid last 24h −0.300%

Price spread now: Deribit against Lighter−0.175%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.510%−$51 on $10k

Price spread, last 4 days (all we have)+0.251%+$25 · spread now −0.175%, 7d avg −0.143%

Together, before fees−0.259%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Deribit is 0.032% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.143%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	143.01	0.0256	pay 0.0032% / 1h	11m 59s	$4.5M	$2.4M	10x
Short	Deribit AAVE_USDC-PERPETUAL	142.76	0	get 0.0000% / 1h	11m 59s	$218K	$390K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$53.76
Price spread: −0.175% → −0.143%: −$3.16
Slippage, 4 orders: −$17.22
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$81.14
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Deribit: live order book, 37 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	0.04 bp	4.7 bp −$5	16.9 bp −$169	45.7 bp −$4,571	doesn't fit
Sell Deribit live order book, 37 min ago	5.22 bp	8.7 bp −$9	16.7 bp −$167	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
dYdX AAVE-USD	0.0000%	1h	142.90	−0.077%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.83	−0.126%	$51K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	142.76	−0.175%	$218K	$390K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.76	−0.174%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.230%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.19	+0.126%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0034%	1h	142.86	−0.105%	$832K	$398K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.70	−0.216%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	142.73	−0.196%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0066%	8h	142.75	−0.182%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0096%	1h	142.88	−0.091%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.82	−0.132%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.86	−0.103%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.90	−0.080%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.84	−0.119%	$63.8M	$188.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.83	−0.126%	$61.4M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.75	−0.182%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.93	−0.056%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.97	−0.028%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.79	−0.154%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.78	−0.161%	$25.8M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.77	−0.168%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.77	−0.168%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.83	−0.126%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.90	−0.077%	$335K	$722K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.94	−0.049%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.04	+0.022%	$104K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.07	+0.040%	$457K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.13	+0.084%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.82	−0.133%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.68	−0.233%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.76	−0.175%	$5K	$310K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.01	+0.001%	$684K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.72	−0.203%	$908K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.79	−0.155%	$121K	$146	10x	as long as short
Hyperliquid AAVE	+0.0116%	1h	142.95	−0.042%	$78.1M	$37.1M	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	142.89	−0.085%	$185K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.96	−0.035%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	142.84	−0.117%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.73	−0.193%	$112K	—	100x	as long as short
Lighter AAVElong	+0.0256%	1h	143.01	long leg	$4.5M	$2.4M	10x
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	142.91	−0.070%	$781K	$2.8M	50x	as long as short