Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.038%

Price spread now: HTX against Lighter−0.059%7-day average −0.260% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.554%−$55 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now −0.059%, 7d avg −0.260%

Together, before fees−0.630%+ Points / potential airdropLighter: Season 3 · farm board−$63 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: HTX is 0.202% dearer against Lighter than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.260%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	144.40	0.0096	pay 0.0012% / 1h	30m 38s	$4.6M	$1.6M	10x
Short	HTX AAVE-USDT	144.31	0.0100	get 0.0100% / 8h	1h 30m	$691K	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0.84
Price spread: −0.059% → −0.260%: $20.15
Slippage, 4 orders: −$31.37
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.37
Costs to cover: 0.434%
Break-even: 193.4 days

Slippage from Lighter: live order book, 7 min ago; HTX: 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	2.28 bp	3.2 bp −$3	13.6 bp −$136	48.2 bp −$4,817	doesn't fit
Sell HTX live order book, 3 min ago	9.59 bp	16.9 bp −$17	68.4 bp −$684	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	−0.0160%	1h	144.27	−0.089%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0096%	1h	144.27	−0.089%	$253K	$480K	50x	as long as short
SoDEX AAVE-USD	−0.0074%	1h	144.28	−0.082%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.64	+0.168%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.33	−0.049%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.45	+0.036%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.42	+0.015%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0031%	8h	144.24	−0.109%	$30.8M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0032%	8h	144.24	−0.111%	$65.6M	$185.7M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.151%	$422	$51K	12x	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	144.31	−0.060%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.31	−0.059%	$180K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.23	−0.116%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.28	−0.082%	$17.5M	$66.7M	50x	as long as short
Gate AAVE_USDT	+0.0051%	8h	144.21	−0.130%	$7.8M	$15.9M	75x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.38	−0.014%	$3.4M	$2.1M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.31	−0.059%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.70	+0.212%	$456K	$3.8M	10x	as long as short
Lighter AAVElong	+0.0096%	1h	144.40	long leg	$4.6M	$1.6M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.21	−0.130%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.20	−0.134%	$798K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.33	−0.047%	$79.3M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.22	−0.123%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.25	−0.106%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.23	−0.116%	$61.2M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.27	−0.089%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.27	−0.090%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.18	−0.151%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.24	−0.109%	$30.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.25	−0.102%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.39	−0.006%	$379K	$713K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.61	+0.146%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.64	+0.166%	$103K	$316K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.64	+0.168%	$134K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.35	−0.033%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.39	−0.003%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	144.31	−0.059%	$691K	$5.0M	75x
Phemex AAVEUSDT	+0.0100%	8h	144.40	+0.001%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.22	−0.124%	$931K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0126%	8h	144.27	−0.089%	$3.4M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.40	+0.003%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.67	+0.188%	$782K	$3.0M	50x	as long as short