Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.010%

Price spread now: Lighter against KuCoin+0.080%7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days−0.053%−$5 · spread now +0.080%, 7d avg +0.102%

Together, before fees+0.049%+ Points / potential airdropLighter: Season 3 · farm board+$5 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 0.022% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAVEUSDTM	142.09	0.0100	pay 0.0100% / 8h	1h 28m	$10.2M	$9.5M	75x
Short	Lighter AAVE	142.20	0.0096	get 0.0012% / 1h	28m 09s	$4.5M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$0.84
Price spread: +0.080% → +0.102%: −$2.2
Slippage, 4 orders: −$30.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$45.37
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Lighter: live order book, 10 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 KuCoin live order book, 10 min ago	1.05 bp	17.0 bp −$17	34.1 bp −$341	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	1.48 bp	2.0 bp −$2	17.5 bp −$175	53.3 bp −$5,329	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	142.27	+0.124%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.02	−0.049%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.08	−0.007%	$216K	$397K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.07	−0.015%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.610%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.06	−0.019%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0057%	1h	142.03	−0.039%	$825K	$389K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	142.02	−0.049%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.30	+0.148%	$4K	$108K	10x	as long as short
Lighter AAVEshort	+0.0096%	1h	142.20	+0.080%	$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	141.97	−0.087%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.08	−0.010%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.07	−0.014%	$324K	$385K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.07	−0.014%	$63.9M	$189.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.04	−0.035%	$61.2M	$67.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.08	−0.007%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.07	−0.014%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.011%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.05	−0.028%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.06	−0.021%	$24.6M	$24.1M	200x	as long as short
KuCoin AAVEUSDTMlong	+0.0100%	8h	142.09	long leg	$10.2M	$9.5M	75x
Bitget AAVEUSDT	+0.0100%	8h	142.03	−0.042%	$29.0M	$18.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.01	−0.056%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.20	+0.077%	$374K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.15	+0.042%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.12	+0.020%	$107K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.24	+0.107%	$447K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.20	+0.077%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.07	−0.014%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.01	−0.057%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.06	−0.021%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.13	+0.028%	$673K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.04	−0.035%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.02	−0.052%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.09	−0.003%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.02	−0.049%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0175%	1h	142.19	+0.070%	$77.7M	$37.1M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.06	−0.021%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.10	+0.009%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.03	−0.044%	$191K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.33	+0.169%	$754K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.13	+0.029%	$3.4M	$2.1M	50x	as long as short