Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0212%/8h= +23.2% APRnext payment +$0.26 per $10,000 · paid last 24h —

Price spread now: Lighter against Reya+0.256%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.256% dearer against Reya than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	142.87	0.0044	pay 0.0006% / 1h	55m 56s	—	—	20x
Short	Lighter AAVE	143.23	0.0256	get 0.0032% / 1h	55m 56s	$4.5M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now +0.256%Rate

Funding earned: $44.49
Price spread: +0.256% → 0.000%: $25.56
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $64.05
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 7 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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	2.66 bp	6.5 bp −$7	21.1 bp −$211	56.2 bp −$5,621	doesn't fit

Reya: 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 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
Nado AAVE-PERP	−0.0072%	1h	142.81	−0.043%	$832K	$401K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0030%	1h	143.01	+0.100%	$219K	$390K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.90	+0.025%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.96	+0.065%	$51K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.04	+0.123%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.134%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	142.46	−0.285%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	142.87	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0060%	8h	143.05	+0.128%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0073%	8h	143.07	+0.142%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0088%	1h	142.92	+0.037%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.84	−0.015%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.11	+0.170%	$78.2M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.99	+0.087%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.88	+0.008%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.94	+0.052%	$63.9M	$188.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.91	+0.030%	$61.3M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.88	+0.009%	$17.1M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.97	+0.072%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.61	−0.180%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.99	+0.086%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.92	+0.037%	$25.8M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.04	+0.121%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.92	+0.037%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.00	+0.093%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.00	+0.093%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.43	−0.309%	$104K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.50	−0.258%	$455K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.73	−0.096%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.96	+0.065%	$132K	$451K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.93	+0.044%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.00	+0.093%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.10	+0.165%	$685K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.88	+0.006%	$904K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.06	+0.132%	$121K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0108%	1h	143.07	+0.142%	$336K	$724K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.94	+0.051%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.09	+0.156%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	143.07	+0.139%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.03	+0.112%	$112K	—	100x	as long as short
Lighter AAVEshort	+0.0256%	1h	143.23	+0.256%	$4.5M	$2.4M	10x
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.04	+0.121%	$786K	$2.8M	50x	as long as short