Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.010%

Price spread now: Lighter against KuCoin+0.077%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.457% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.077%, 7d avg +0.101%

Together, before fees+0.083%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.024% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.077% now, against its 7-day average of +0.101%). If the spread goes back, that is −$2 on $10k: about 21 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	143.08	0.0100	pay 0.0100% / 8h	1h 53m	$10.3M	$9.5M	75x
Short	Lighter AAVE	143.19	0.0192	get 0.0024% / 1h	53m 33s	$4.5M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.077%Rate

Funding earned: $19.32
Price spread: +0.077% → +0.101%: −$2.41
Slippage, 4 orders: −$33.68
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$28.77
Costs to cover: 0.457%
Break-even: 17.4 days

Slippage from KuCoin: live order book, 5 min ago; Lighter: live order book, 4 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 KuCoin live order book, 5 min ago	1.74 bp	15.6 bp −$16	39.7 bp −$397	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	4.67 bp	7.1 bp −$7	20.8 bp −$208	51.9 bp −$5,188	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
dYdX AAVE-USD	0.0000%	1h	143.11	+0.024%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.15	+0.049%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.17	+0.063%	$218K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.18	+0.069%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.277%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.04	−0.030%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0075%	8h	143.17	+0.063%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0076%	1h	143.11	+0.024%	$831K	$400K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.00	−0.055%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.07	−0.005%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.05	−0.020%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.03	−0.036%	$64.4M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.03	−0.035%	$61.6M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.03	−0.035%	$17.1M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.11	+0.021%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.580%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.02	−0.042%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.04	−0.028%	$25.2M	$23.9M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	143.08	long leg	$10.3M	$9.5M	75x
Bitget AAVEUSDT	+0.0100%	8h	143.00	−0.056%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.04	−0.028%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.25	+0.119%	$336K	$726K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.26	+0.126%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.23	+0.102%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.33	+0.174%	$453K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.40	+0.224%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.16	+0.056%	$142K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.07	−0.010%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.17	+0.063%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.39	+0.217%	$680K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.20	+0.084%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.99	−0.065%	$911K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.20	+0.085%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.73	+0.454%	$4K	$108K	10x	as long as short
01 Exchange AAVEUSD	+0.0144%	1h	143.03	−0.035%	$10K	$2K	5x	as long as short
Lighter AAVEshort	+0.0192%	1h	143.19	+0.077%	$4.5M	$2.4M	10x
BloFin AAVE-USDT	+0.0220%	8h	143.18	+0.070%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.16	+0.054%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	143.06	−0.016%	$196K	$263K	10x	as long as short
Hyperliquid AAVE	+0.0277%	1h	143.24	+0.114%	$78.3M	$37.2M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.40	+0.224%	$765K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0315%	1h	143.23	+0.107%	$3.4M	$2.1M	50x	as long as short