Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.028%

Price spread now: Lighter against Variational Omni+0.456%7-day average +0.125% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.075%+$8 on $10k

Price spread, last 7 days−0.350%−$35 · spread now +0.456%, 7d avg +0.125%

Together, before fees−0.275%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.330% dearer against Variational Omni than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of +0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	144.02	0.0100	pay 0.0100% / 8h	6h 03m	$3.7M	$1.3M	—
Short	Lighter AAVE	144.68	0.0096	get 0.0012% / 1h	3m 07s	$4.7M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.456%Rate

Funding earned: −$0.84
Price spread: +0.456% → +0.125%: $33.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $32.21
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter: live order book, 5 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 Variational Omni RFQ quote, 1 min ago	3.08 bp	doesn't fit	12.8 bp −$128	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.33 bp	5.3 bp −$5	15.4 bp −$154	50.1 bp −$5,007	doesn't fit

AAVE on 41 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	−0.0034%	1h	144.58	+0.386%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	144.46	+0.306%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.45	+0.300%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.33	+0.215%	$71K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.43	+0.285%	$245K	$370K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.42	+0.278%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.47	+0.313%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.902%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.36	+0.237%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.46	+0.306%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0085%	8h	144.38	+0.250%	$26.6M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0087%	8h	144.29	+0.187%	$65.0M	$182.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0088%	8h	144.26	+0.167%	$17.3M	$64.1M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.52	+0.346%	$200K	$229K	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	144.68	+0.456%	$4.7M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.41	+0.272%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.41	+0.267%	$803K	$415K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.43	+0.285%	$78.1M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.44	+0.295%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.43	+0.285%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.30	+0.195%	$61.7M	$64.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.49	+0.326%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.34	+0.222%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.37	+0.243%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.34	+0.222%	$30.0M	$17.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.31	+0.202%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.41	+0.271%	$323K	$718K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	144.02	long leg	$3.7M	$1.3M	—
edgeX AAVEUSDC	+0.0100%	4h	143.83	−0.134%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.07	+0.035%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.85	−0.118%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.49	+0.326%	$126K	$421K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.42	+0.281%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.45	+0.299%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.82	+0.559%	$701K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.39	+0.257%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.032%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.40	+0.264%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.45	+0.299%	$122K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0398%	1h	144.37	+0.246%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.45	+0.299%	$776K	$2.8M	50x	as long as short