Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.030%

Price spread now: Lighter against OKX+0.103%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on OKX Short on Lighter

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+0.021%+$2 · spread now +0.103%, 7d avg +0.114%

Together, before fees+0.152%+ 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	OKX AAVE-USDT-SWAP	145.99	0.0063	pay 0.0063% / 8h	7h 40m	$17.9M	$67.2M	50x
Short	Lighter AAVE	146.14	0.0096	get 0.0012% / 1h	40m 19s	$4.7M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.103%Rate

Funding earned: $6.93
Price spread: +0.103% → +0.114%: −$1.15
Slippage, 4 orders: −$18.73
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.95
Costs to cover: 0.287%
Break-even: 30.2 days

Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 2 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 OKX live order book, 4 min ago	0.34 bp	8.6 bp −$9	17.7 bp −$177	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	2.26 bp	9.2 bp −$9	23.9 bp −$239	61.5 bp −$6,155	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	−0.0184%	1h	146.12	+0.090%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0128%	1h	145.96	−0.021%	$11K	$2K	5x	as long as short
Phemex AAVEUSDT	−0.0107%	8h	145.98	−0.007%	$4.1M	$3.8M	50x	as long as short
SoDEX AAVE-USD	−0.0081%	1h	145.96	−0.021%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	146.01	+0.014%	$255K	$373K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.08	+0.064%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.94	−0.034%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.21	+0.151%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.09	+0.068%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0024%	8h	146.03	+0.027%	$29.3M	$25.7M	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	+0.0024%	8h	146.00	+0.007%	$66.2M	$186.7M	75x	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	145.96	−0.022%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	145.98	−0.007%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0049%	1h	145.80	−0.130%	$136K	$230K	50x	as long as short
Gate AAVE_USDT	+0.0053%	8h	146.02	+0.021%	$7.9M	$15.2M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0063%	8h	145.99	long leg	$17.9M	$67.2M	50x
Aevo AAVE-PERP	+0.0088%	1h	146.00	+0.006%	$123K	$146	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	146.14	+0.103%	$4.7M	$1.5M	10x
BloFin AAVE-USDT	+0.0096%	8h	145.90	−0.062%	$3.5M	$4.1M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.04	+0.031%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.91	−0.053%	$798K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.14	+0.103%	$79.7M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.04	+0.035%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.97	−0.014%	$333K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.99	0.000%	$62.4M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.04	+0.034%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.05	+0.041%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.97	−0.014%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.02	+0.021%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.02	+0.021%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.00	+0.007%	$346K	$734K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.08	+0.063%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.12	+0.089%	$105K	$316K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.12	+0.087%	$462K	$3.9M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.03	+0.027%	$128K	$430K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.98	−0.004%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.12	+0.086%	$698K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.92	−0.045%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.05	+0.041%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	146.07	+0.057%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.08	+0.062%	$786K	$3.1M	50x	as long as short