Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.014%

Price spread now: Gate against Lighter−0.018%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 7 days−0.061%−$6 · spread now −0.018%, 7d avg −0.105%

Together, before fees−0.158%+ Points / potential airdropLighter: Season 3 · farm board−$16 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: Gate is 0.087% dearer against Lighter than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	142.06	0.0096	pay 0.0012% / 1h	43m 13s	$4.6M	$1.9M	10x
Short	Gate AAVE_USDT	142.03	0.0100	get 0.0100% / 8h	4h 43m	$8.0M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.018%Rate

Funding earned: $0.84
Price spread: −0.018% → −0.105%: $8.75
Slippage, 4 orders: −$23.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$28.44
Costs to cover: 0.380%
Break-even: 244.0 days

Slippage from Lighter: live order book, 9 min ago; Gate: live order book, 5 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, 9 min ago	2.77 bp	5.4 bp −$5	14.9 bp −$149	43.6 bp −$4,363	doesn't fit
Sell Gate live order book, 5 min ago	2.47 bp	14.6 bp −$15	29.6 bp −$296	48.7 bp −$4,872	55.0 bp −$27.5K

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
01 Exchange AAVEUSD	−0.0176%	1h	142.16	+0.074%	$10K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0102%	1h	142.02	−0.025%	$220K	$399K	50x	as long as short
SoDEX AAVE-USD	−0.0014%	1h	142.02	−0.025%	$5K	$299K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.42	+0.260%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.04	−0.011%	$47K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.13	+0.055%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.587%	$422	$51K	12x	as long as short
Nado AAVE-PERP	+0.0042%	1h	142.16	+0.074%	$842K	$447K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.06	0.000%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.00	−0.039%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.04	−0.011%	$4K	$102K	10x	as long as short
Lighter AAVElong	+0.0096%	1h	142.06	long leg	$4.6M	$1.9M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	142.32	+0.184%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.09	+0.025%	$76.6M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.18	+0.086%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.39	+0.237%	$324K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.98	−0.053%	$63.4M	$185.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.97	−0.060%	$60.8M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.04	−0.011%	$17.0M	$63.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.37	+0.222%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	+0.046%	$57K	$2K	10x	as long as short
Gate AAVE_USDTshort	+0.0100%	8h	142.03	−0.018%	$8.0M	$15.7M	75x
MEXC AAVE_USDT	+0.0100%	8h	141.98	−0.053%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.98	−0.053%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.97	−0.060%	$28.9M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.02	−0.025%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.05	−0.004%	$337K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.05	−0.004%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.83	−0.158%	$102K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.11	+0.039%	$449K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.11	+0.039%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.22	+0.116%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.02	−0.025%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.18	+0.089%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.00	−0.039%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.98	−0.054%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.01	−0.032%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.29	+0.162%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.12	+0.046%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.10	+0.034%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	142.10	+0.034%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.57	+0.363%	$785K	$2.9M	50x	as long as short