Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: GRVT against Lighter+0.146%108s7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.249% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 7 days−0.208%−$21 · spread now +0.146%, 7d avg −0.077%

Together, before fees−0.267%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$27 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: GRVT is 0.223% dearer against Lighter than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.077%. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	144.25	0.0096	pay 0.0012% / 1h	15m 43s	$4.6M	$1.5M	10x
Short	GRVT AAVE_USDT_Perp	144.46	0.0100	get 0.0100% / 8h	5h 15m	$461K	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.146%Rate

Funding earned: $0.84
Price spread: +0.146% → −0.077%: $22.34
Slippage, 4 orders: −$15.88
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$1.7
Costs to cover: 0.249%
Break-even: 21.1 days

Slippage from Lighter: live order book, 7 min ago; GRVT: live order book, 3 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	2.70 bp	5.7 bp −$6	13.6 bp −$136	45.7 bp −$4,567	doesn't fit
Sell GRVT live order book, 3 min ago	0.35 bp	8.0 bp −$8	20.7 bp −$207	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
01 Exchange AAVEUSD	−0.0048%	1h	144.30	+0.037%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.12	−0.087%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.30	+0.037%	$59K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.29	+0.030%	$229K	$389K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.35	+0.073%	$81K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.052%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.28	+0.023%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	144.29	+0.030%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0050%	1h	144.28	+0.023%	$833K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.46	+0.148%	$5K	$98K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVElong	+0.0096%	1h	144.25	long leg	$4.6M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.15	−0.067%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.23	−0.012%	$78.0M	$35.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.30	+0.039%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.13	−0.081%	$329K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.10	−0.102%	$64.5M	$182.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.10	−0.102%	$61.5M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	144.10	−0.102%	$17.3M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.15	−0.067%	$45K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	−0.232%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.24	−0.005%	$7.9M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	144.11	−0.095%	$26.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.14	−0.074%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.13	−0.081%	$30.2M	$17.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.10	−0.102%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.31	+0.044%	$322K	$692K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	+0.021%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.42	+0.118%	$104K	$279K	20x	as long as short
GRVT AAVE_USDT_Perpshort	+0.0100%	8h	144.46	+0.146%	$461K	$3.7M	10x
ApeX Omni AAVEUSDT	+0.0100%	1h	144.44	+0.134%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.34	+0.064%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.30	+0.037%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.29	+0.030%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.38	+0.089%	$695K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.27	+0.016%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.06	−0.127%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.32	+0.051%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.17	−0.052%	$188K	$235K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.35	+0.071%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	144.36	+0.080%	$125K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0266%	1h	144.41	+0.112%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	143.97	−0.192%	$783K	$2.8M	50x	as long as short