Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.021%

Price spread now: Lighter against Bybit+0.115%7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.115%, 7d avg +0.119%

Together, before fees+0.042%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAVEUSDT	142.05	0.0100	pay 0.0100% / 8h	1h 04m	$61.4M	$67.4M	75x
Short	Lighter AAVE	142.21	0.0096	get 0.0012% / 1h	4m 44s	$4.5M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$0.84
Price spread: +0.115% → +0.119%: −$0.35
Slippage, 4 orders: −$19.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.67
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Lighter: live order book, 3 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 Bybit live order book, 4 min ago	0.35 bp	7.1 bp −$7	13.4 bp −$134	62.5 bp −$6,249	doesn't fit
Sell Lighter live order book, 3 min ago	2.35 bp	10.3 bp −$10	21.3 bp −$213	50.3 bp −$5,029	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	142.31	+0.181%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.13	+0.056%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.09	+0.028%	$215K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.10	+0.035%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.583%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.05	−0.002%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0071%	1h	142.07	+0.014%	$827K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0080%	8h	142.06	+0.007%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.50	+0.317%	$4K	$108K	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	142.21	+0.115%	$4.5M	$2.5M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.14	+0.063%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	+0.075%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.20	+0.103%	$325K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.06	+0.004%	$63.8M	$188.5M	75x	as long as short
Bybit AAVEUSDTlong	+0.0100%	8h	142.05	long leg	$61.4M	$67.4M	75x
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.06	+0.007%	$17.0M	$64.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.20	+0.106%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.35	+0.211%	$161K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.11	+0.042%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.07	+0.014%	$24.3M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.11	+0.042%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.03	−0.014%	$29.0M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.19	+0.099%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.26	+0.148%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.14	+0.061%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.20	+0.106%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.13	+0.056%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.16	+0.077%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.09	+0.025%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.06	+0.007%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.52	+0.329%	$674K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.12	+0.049%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.01	−0.029%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.09	+0.032%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.14	+0.063%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0162%	1h	142.23	+0.125%	$77.8M	$36.9M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0168%	1h	142.20	+0.106%	$390K	$727K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.09	+0.028%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.10	+0.035%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.16	+0.080%	$189K	$270K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.29	+0.169%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.20	+0.109%	$3.4M	$2.1M	50x	as long as short