Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 13:00 UTC−0.0086%/8h= −9.5% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Lighter−0.142%7-day average −0.131% · you buy dearer than you sell

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 4 days (all we have)−0.083%−$8 on $10k

Price spread, last 7 days+0.085%+$9 · spread now −0.142%, 7d avg −0.131%

Together, before fees+0.002%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.131%, so right now this pair is about funding alone: −$3 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	143.31	0.0096	pay 0.0012% / 1h	22m 49s	$4.7M	$2.3M	10x
Short	Variational Omni AAVE	143.10	0.0010	get 0.0010% / 8h	3h 22m	$3.6M	$707K	—

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

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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 −0.142%Rate

Funding earned: −$18.15
Price spread: −0.142% → −0.131%: −$1.11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.26
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 8 min ago; Variational Omni: RFQ quote, 4 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, 8 min ago	0.77 bp	7.2 bp −$7	15.7 bp −$157	44.4 bp −$4,443	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.09 bp	doesn't fit	9.0 bp −$90	doesn't fit	doesn't fit

AAVE on 42 exchanges

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
SoDEX AAVE-USD	−0.0145%	1h	143.08	−0.159%	$7K	$180K	10x	as long as short
Phemex AAVEUSDT	−0.0096%	8h	143.09	−0.152%	$3.9M	$3.5M	50x	as long as short
01 Exchange AAVEUSD	−0.0088%	1h	143.08	−0.159%	$10K	$370	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.04	−0.187%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.03	−0.194%	$62K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.14	−0.117%	$214K	$315K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.17	−0.098%	$80K	—	150x	as long as short
Bybit AAVEUSDT	+0.0007%	8h	143.25	−0.040%	$62.5M	$58.2M	75x	as long as short
Variational Omni AAVEshort	+0.0010%	8h	143.10	−0.142%	$3.6M	$707K	—
Phoenix AAVE	+0.0017%	1h	143.23	−0.054%	$5K	$81K	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.430%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.99	−0.220%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0067%	8h	143.10	−0.145%	$17K	$2K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0074%	8h	143.29	−0.013%	$16.2M	$53.3M	50x	as long as short
Binance AAVEUSDT	+0.0088%	8h	143.26	−0.036%	$64.4M	$158.0M	75x	as long as short
MEXC AAVE_USDT	+0.0088%	8h	143.25	−0.040%	$24.6M	$21.4M	200x	as long as short
Lighter AAVElong	+0.0096%	1h	143.31	long leg	$4.7M	$2.3M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	142.94	−0.259%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.03	−0.194%	$833K	$314K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.43	+0.085%	$78.9M	$26.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.30	−0.007%	$1.2M	$962K	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.06	−0.174%	$321K	$364K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.13	−0.124%	$95K	$209K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.02	−0.202%	$114K	$69K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.27	−0.027%	$8.3M	$13.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.31	+0.001%	$10.3M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.24	−0.047%	$29.6M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.25	−0.040%	—	$34.8M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.99	−0.224%	$110K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.01	−0.208%	$451K	$3.1M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.72	−0.410%	$153K	$233K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.10	−0.145%	$131K	$377K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.10	−0.147%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.10	−0.147%	$642K	$1.3M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.19	−0.081%	$930K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.99	−0.219%	$121K	—	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0138%	1h	143.40	+0.064%	$394K	$586K	10x	as long as short
RISEx AAVE/USDC	+0.0139%	1h	143.06	−0.174%	$173K	$228K	10x	as long as short
BloFin AAVE-USDT	+0.0208%	8h	143.13	−0.124%	$3.2M	$3.2M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0232%	1h	143.01	−0.208%	$775K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0255% / S −0.0365%	1h	143.17	−0.096%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0266%	1h	143.20	−0.073%	$3.5M	$1.8M	50x	as long as short