Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.003%

Price spread now: Lighter against HTX+0.107%7-day average +0.240% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.541%+$54 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.107%, 7d avg +0.240%

Together, before fees+0.421%+ Points / potential airdropLighter: Season 3 · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.134% cheaper against HTX than usual: you would sell low and buy high (spread +0.107% now, against its 7-day average of +0.240%). If the spread goes back, that is −$13 on $10k: about 4.8 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.541% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AAVE-USDT	141.63	0.0100	pay 0.0100% / 8h	7h 44m	$667K	$5.3M	75x
Short	Lighter AAVE	141.78	0.0192	get 0.0024% / 1h	44m 53s	$4.5M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.107%Rate

Funding earned: $19.32
Price spread: +0.107% → +0.240%: −$13.38
Slippage, 4 orders: −$43.85
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$49.91
Costs to cover: 0.558%
Break-even: 25.1 days

Slippage from HTX: 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 HTX live order book, 4 min ago	9.73 bp	20.7 bp −$21	55.6 bp −$556	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.29 bp	7.9 bp −$8	23.5 bp −$235	55.6 bp −$5,558	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	−0.0103%	1h	141.57	−0.040%	$213K	$392K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.63	+0.003%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.50	−0.090%	$52K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.56	−0.047%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.295%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.50	−0.091%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0087%	8h	141.54	−0.061%	$17K	$8K	10x	as long as short
Phoenix AAVE	+0.0096%	1h	141.55	−0.054%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.50	−0.091%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.54	−0.063%	$828K	$400K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	141.74	+0.080%	$77.4M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.67	+0.027%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.56	−0.046%	$330K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.58	−0.036%	$63.6M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.56	−0.047%	$61.0M	$69.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.58	−0.033%	$16.7M	$65.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.69	+0.044%	$94K	$224K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.50	−0.093%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.60	−0.019%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.59	−0.026%	$22.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.62	−0.005%	$10.3M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.58	−0.033%	$28.8M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.59	−0.026%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.51	−0.081%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.56	−0.050%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.63	+0.002%	$453K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.69	+0.044%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.62	−0.005%	$134K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.53	−0.066%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.57	−0.040%	$5K	$299K	10x	as long as short
HTX AAVE-USDTlong	+0.0100%	8h	141.63	long leg	$667K	$5.3M	75x
Phemex AAVEUSDT	+0.0100%	8h	141.56	−0.047%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.53	−0.067%	$909K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	141.63	+0.002%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.60	−0.021%	$120K	$146	10x	as long as short
Lighter AAVEshort	+0.0192%	1h	141.78	+0.107%	$4.5M	$2.5M	10x
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.83	+0.143%	$755K	$2.8M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.57	−0.040%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.60	−0.020%	$176K	$297K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0227%	1h	141.73	+0.073%	$385K	$732K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	141.63	+0.005%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.55	−0.052%	$110K	—	100x	as long as short