Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Lighter−0.060%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.060%, 7d avg −0.110%

Together, before fees−0.084%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$8 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: Aster is 0.050% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	146.62	0.0096	pay 0.0012% / 1h	10m 05s	$4.7M	$1.5M	10x
Short	Aster AAVEUSDT	146.53	0.0100	get 0.0100% / 8h	7h 10m	$1.4M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0.84
Price spread: −0.060% → −0.110%: $4.95
Slippage, 4 orders: −$24.89
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27.09
Costs to cover: 0.329%
Break-even: 232.8 days

Slippage from Lighter: live order book, 3 min ago; Aster: 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 Lighter live order book, 3 min ago	2.70 bp	8.2 bp −$8	12.5 bp −$125	41.7 bp −$4,169	doesn't fit
Sell Aster live order book, 3 min ago	3.76 bp	10.7 bp −$11	26.0 bp −$260	doesn't fit	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.51	−0.071%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0144%	1h	146.52	−0.067%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0071%	1h	146.38	−0.162%	$5K	$295K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0023%	1h	146.47	−0.101%	$255K	$367K	50x	as long as short
Phemex AAVEUSDT	−0.0019%	8h	146.42	−0.135%	$4.2M	$3.8M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.48	−0.094%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.46	−0.108%	$79K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.55	−0.046%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.56	−0.040%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0024%	8h	146.48	−0.094%	$28.7M	$25.9M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0025%	8h	146.44	−0.121%	$66.3M	$183.2M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.587%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.47	−0.099%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	146.49	−0.087%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0046%	1h	146.45	−0.115%	$136K	$231K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	146.44	−0.121%	$17.9M	$66.3M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.47	−0.098%	$124K	$146	10x	as long as short
Lighter AAVElong	+0.0096%	1h	146.62	long leg	$4.7M	$1.5M	10x
BloFin AAVE-USDT	+0.0096%	8h	146.30	−0.217%	$3.5M	$3.5M	100x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.50	−0.079%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.41	−0.138%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.58	−0.026%	$79.9M	$35.4M	10x	as long as short
Aster AAVEUSDTshort	+0.0100%	8h	146.53	−0.060%	$1.4M	$1.2M	50x
Pacifica AAVE	+0.0100%	1h	146.53	−0.060%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.45	−0.115%	$62.7M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.47	−0.101%	$46K	$275K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.567%	$59K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	146.46	−0.108%	$7.9M	$15.3M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.48	−0.094%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.38	−0.162%	$30.4M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.44	−0.121%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.55	−0.046%	$331K	$739K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.237%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.39	−0.152%	$106K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.39	−0.156%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.55	−0.046%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.46	−0.108%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.75	+0.090%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.39	−0.154%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.55	−0.049%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.55	−0.046%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.67	+0.035%	$787K	$2.9M	50x	as long as short