Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.028%

Price spread now: Variational Omni against Lighter+0.310%7-day average −0.125% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.074%−$7 on $10k

Price spread, last 7 days−0.464%−$46 · spread now +0.310%, 7d avg −0.125%

Together, before fees−0.539%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$54 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: Variational Omni is 0.435% dearer against Lighter than usual: you sell high and buy low, +$43 on $10k if it goes back to its 7-day average of −0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	145.99	0.0096	pay 0.0012% / 1h	18m 39s	$4.7M	$1.5M	10x
Short	Variational Omni AAVE	146.44	0.0100	get 0.0100% / 8h	7h 18m	$3.8M	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.310%Rate

Funding earned: $0.84
Price spread: +0.310% → −0.125%: $43.46
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $44.3
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 4 min ago; Variational Omni: RFQ quote, 1 min ago. 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, 4 min ago	2.80 bp	6.4 bp −$6	18.9 bp −$189	53.7 bp −$5,369	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.08 bp	doesn't fit	13.1 bp −$131	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	146.01	+0.015%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0160%	1h	146.18	+0.131%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0094%	1h	145.90	−0.061%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.05	+0.042%	$255K	$369K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.77	−0.149%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.12	+0.090%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.58	+0.405%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.13	+0.097%	$71K	—	150x	as long as short
Gate AAVE_USDT	+0.0009%	8h	145.79	−0.136%	$7.9M	$15.3M	75x	as long as short
MEXC AAVE_USDT	+0.0021%	8h	145.75	−0.164%	$28.9M	$25.8M	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	+0.0021%	8h	145.74	−0.171%	$66.0M	$183.5M	75x	as long as short
Phemex AAVEUSDT	+0.0033%	8h	145.92	−0.047%	$4.2M	$3.8M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.185%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.05	+0.040%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.02	+0.021%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	145.79	−0.136%	$17.9M	$66.2M	50x	as long as short
Bybit AAVEUSDT	+0.0068%	8h	145.80	−0.129%	$62.4M	$65.0M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0074%	1h	146.56	+0.391%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0085%	8h	146.04	+0.035%	$3.5M	$3.5M	100x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.10	+0.078%	$123K	$146	10x	as long as short
Lighter AAVElong	+0.0096%	1h	145.99	long leg	$4.7M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	145.71	−0.189%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.14	+0.102%	$799K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.90	−0.061%	$79.5M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.85	−0.093%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.82	−0.119%	$333K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.78	−0.143%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	+0.251%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.85	−0.095%	$10.3M	$8.9M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.70	−0.198%	$30.2M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.72	−0.184%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.93	−0.040%	$333K	$735K	10x	as long as short
Variational Omni AAVEshort	+0.0100%	8h	146.44	+0.310%	$3.8M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	146.46	+0.325%	$106K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.48	+0.336%	$464K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.13	+0.097%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.06	+0.045%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.46	+0.319%	$711K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.76	−0.154%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.21	+0.148%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.13	+0.096%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.41	+0.288%	$785K	$2.9M	50x	as long as short