AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0240%/8h= −26.3% APRnext payment −$0.30 per $10,000 · paid last 24h −0.047%

Price spread now: Lighter against Coinbase International−0.142%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.142%, 7d avg +0.056%

Together, before fees−0.113%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.198% cheaper against Coinbase International than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	144.02	0.0336	pay 0.0042% / 1h	11m 35s	$783K	$2.8M	50x
Short	Lighter AAVE	143.82	0.0096	get 0.0012% / 1h	11m 35s	$4.6M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$50.4
Price spread: −0.142% → +0.056%: −$19.81
Slippage, 4 orders: −$26.81
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$107.02
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Lighter: live order book, 6 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 Coinbase International live order book, 2 min ago	3.82 bp	13.4 bp −$13	18.1 bp −$181	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.94 bp	2.9 bp −$3	15.4 bp −$154	51.6 bp −$5,158	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
Deribit AAVE_USDC-PERPETUAL	−0.0376%	1h	143.61	−0.285%	$228K	$389K	50x	as long as short
01 Exchange AAVEUSD	−0.0048%	1h	143.73	−0.201%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.62	−0.277%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.71	−0.215%	$59K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.73	−0.199%	$80K	—	150x	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	143.64	−0.261%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	143.66	−0.250%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0056%	1h	143.78	−0.167%	$830K	$433K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.07	+0.035%	$5K	$98K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVEshort	+0.0096%	1h	143.82	−0.142%	$4.6M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	143.58	−0.305%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.74	−0.194%	$77.8M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.67	−0.242%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.64	−0.264%	$327K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.73	−0.201%	$64.3M	$182.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.76	−0.181%	$61.3M	$64.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.76	−0.181%	$17.2M	$63.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.77	−0.174%	$44K	$179K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	+0.038%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.65	−0.257%	$7.8M	$15.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.65	−0.257%	$26.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.68	−0.236%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.68	−0.236%	$30.1M	$17.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.69	−0.229%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.65	−0.257%	$320K	$691K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.28	+0.178%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.82	−0.141%	$104K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.88	−0.095%	$451K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.90	−0.083%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.74	−0.194%	$128K	$422K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.74	−0.194%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.63	−0.271%	$5K	$301K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.76	−0.181%	$692K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.67	−0.243%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.66	−0.248%	$918K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.69	−0.226%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	143.80	−0.151%	$185K	$236K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.85	−0.118%	$3.4M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0263% / S −0.0420%	1h	143.72	−0.207%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	143.72	−0.209%	$3.5M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0336%	1h	144.02	long leg	$783K	$2.8M	50x