Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0047%/8h= −5.2% APRpaid last 24h −0.020%

Price spread now: Orderly against Lighter−0.011%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

The price spread sits at zero (this spread has no 7-day history yet), 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	Lighter AAVE	142.81	0.0096	pay 0.0012% / 1h	17m 17s	$4.5M	$2.0M	10x
Short	Orderly PERP_AAVE_USDC	142.80	0.0049	get 0.0049% / 8h	4h 17m	$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 −0.011%Rate

Funding earned: −$9.88
Price spread: −0.011% → 0.000%: −$1.05
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.94
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 5 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, 5 min ago	1.33 bp	4.2 bp −$4	10.6 bp −$106	39.4 bp −$3,941	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 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
01 Exchange AAVEUSD	−0.0144%	1h	142.75	−0.046%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.77	−0.033%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.62	−0.137%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.83	+0.011%	$219K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.84	+0.019%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0012%	1h	142.76	−0.035%	$841K	$448K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.100%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.75	−0.048%	—	—	20x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0049%	8h	142.80	−0.011%	$18K	$10K	10x
Phoenix AAVE	+0.0056%	1h	142.95	+0.095%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX AAVE-USD	+0.0095%	1h	142.80	−0.011%	$5K	$293K	10x	as long as short
Lighter AAVElong	+0.0096%	1h	142.81	long leg	$4.5M	$2.0M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	142.80	−0.013%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.87	+0.039%	$76.9M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.79	−0.020%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.76	−0.040%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.81	−0.004%	$63.8M	$186.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.80	−0.011%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.80	−0.011%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.86	+0.032%	$64K	$203K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.046%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.81	−0.004%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.78	−0.025%	$25.2M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.77	−0.032%	$10.5M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.72	−0.067%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.80	−0.011%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.75	−0.046%	$336K	$718K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.71	−0.075%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.72	−0.068%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.78	−0.025%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.79	−0.018%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.81	−0.004%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.75	−0.044%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.006%	$687K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.55	−0.186%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.76	−0.041%	$896K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.83	+0.011%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.84	+0.015%	$178K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.75	−0.046%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.85	+0.024%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.89	+0.049%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.82	+0.004%	$792K	$2.8M	50x	as long as short