Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.020%

Price spread now: Orderly against Lighter−0.155%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.155% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	144.31	0.0096	pay 0.0012% / 1h	5m 46s	$4.6M	$1.5M	10x
Short	Orderly PERP_AAVE_USDC	144.09	0.0044	get 0.0044% / 8h	6h 05m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.155%Rate

Funding earned: −$10.86
Price spread: −0.155% → 0.000%: −$15.45
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.31
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 7 min ago; Orderly: no order-book sample. Net counts fees only.

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	1.94 bp	5.1 bp −$5	13.8 bp −$138	46.8 bp −$4,683	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE on 41 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
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.19	−0.086%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	144.03	−0.196%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.04	−0.187%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.94	−0.258%	$70K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.10	−0.148%	$245K	$370K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.07	−0.171%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.77	−0.376%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.095%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.02	−0.203%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0044%	8h	144.09	−0.155%	$18K	$10K	10x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0083%	8h	144.06	−0.175%	$26.5M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0083%	8h	144.08	−0.160%	$65.0M	$182.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0087%	8h	144.08	−0.161%	$17.3M	$64.2M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.07	−0.167%	$199K	$229K	10x	as long as short
Lighter AAVElong	+0.0096%	1h	144.31	long leg	$4.6M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.10	−0.147%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.00	−0.217%	$801K	$419K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.18	−0.092%	$78.0M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.06	−0.173%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.10	−0.150%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.08	−0.161%	$61.7M	$64.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.11	−0.141%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.07	−0.168%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.12	−0.134%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.06	−0.175%	$30.0M	$17.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.07	−0.168%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.18	−0.092%	$322K	$717K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.02	−0.203%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.60	−0.493%	$103K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.60	−0.494%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.67	−0.446%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.07	−0.168%	$126K	$421K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.97	−0.234%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.09	−0.155%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.40	+0.059%	$699K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.12	−0.134%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.09	−0.151%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.02	−0.206%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.11	−0.144%	$122K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0394%	1h	144.05	−0.182%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.10	−0.148%	$774K	$2.8M	50x	as long as short