Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.030%

Price spread now: OKX against Lighter−0.100%7-day average −0.114% · 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−$27as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.100%, 7d avg −0.114%

Together, before fees−0.155%+ Points / potential airdropLighter: Season 3 · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.114%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	144.76	0.0096	pay 0.0012% / 1h	49m 09s	$4.6M	$1.4M	10x
Short	OKX AAVE-USDT-SWAP	144.62	0.0063	get 0.0063% / 8h	6h 49m	$17.5M	$66.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$6.88
Price spread: −0.100% → −0.114%: $1.41
Slippage, 4 orders: −$18.27
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.75
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Lighter: live order book, 14 min ago; OKX: 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, 14 min ago	3.41 bp	7.7 bp −$8	12.1 bp −$121	44.8 bp −$4,479	doesn't fit
Sell OKX live order book, 5 min ago	0.35 bp	7.7 bp −$8	18.8 bp −$188	90.8 bp −$9,083	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
Deribit AAVE_USDC-PERPETUAL	−1.9743%	1h	141.66	−2.145%	$246K	$362K	50x	as long as short
ApeX Omni AAVEUSDT	−0.0166%	1h	144.26	−0.349%	$134K	$230K	50x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	144.59	−0.121%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.62	−0.099%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.59	−0.119%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.51	−0.176%	$65K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.56	−0.140%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.68	−0.059%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.391%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0036%	8h	144.59	−0.121%	$27.6M	$24.7M	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	+0.0037%	8h	144.57	−0.135%	$65.2M	$185.4M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.53	−0.162%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.52	−0.167%	—	—	20x	as long as short
OKX AAVE-USDT-SWAPshort	+0.0063%	8h	144.62	−0.100%	$17.5M	$66.2M	50x
Aevo AAVE-PERP	+0.0088%	1h	144.53	−0.159%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.62	−0.099%	$183K	$245K	10x	as long as short
Lighter AAVElong	+0.0096%	1h	144.76	long leg	$4.6M	$1.4M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.53	−0.163%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.57	−0.131%	$800K	$427K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.69	−0.052%	$78.6M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.65	−0.080%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.60	−0.115%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.60	−0.114%	$61.9M	$65.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.60	−0.114%	$45K	$236K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.56	−0.142%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.56	−0.142%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.59	−0.121%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.57	−0.135%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.54	−0.155%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.61	−0.107%	$325K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.23	−0.368%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.86	−0.623%	$104K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.95	−0.564%	$455K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.58	−0.128%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.53	−0.164%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.52	−0.169%	$5K	$302K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.07	+0.211%	$704K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.59	−0.121%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.48	−0.197%	$922K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0147%	8h	144.53	−0.162%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.54	−0.157%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.78	+0.010%	$777K	$2.8M	50x	as long as short