Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.038%

Price spread now: HTX against Lighter+0.059%7-day average −0.260% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.554%−$55 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.059%, 7d avg −0.260%

Together, before fees−0.748%+ Points / potential airdropLighter: Season 3 · farm board−$75 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: HTX is 0.319% dearer against Lighter than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −0.260%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	144.15	0.0096	pay 0.0012% / 1h	46m 49s	$4.6M	$1.6M	10x
Short	HTX AAVE-USDT	144.24	0.0100	get 0.0100% / 8h	1h 46m	$717K	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0.84
Price spread: +0.059% → −0.260%: $31.94
Slippage, 4 orders: −$36
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$15.23
Costs to cover: 0.480%
Break-even: 133.9 days

Slippage from Lighter: live order book, 6 min ago; HTX: live order book, 2 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, 6 min ago	2.12 bp	2.1 bp −$2	12.2 bp −$122	43.8 bp −$4,380	doesn't fit
Sell HTX live order book, 2 min ago	8.98 bp	15.8 bp −$16	78.0 bp −$780	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
01 Exchange AAVEUSD	−0.0192%	1h	144.08	−0.049%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0106%	1h	143.85	−0.208%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0097%	1h	143.89	−0.180%	$253K	$480K	50x	as long as short
Phoenix AAVE	−0.0045%	1h	143.99	−0.111%	$5K	$100K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.13	−0.011%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.03	−0.083%	$67K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.93	−0.155%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.988%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0034%	8h	143.97	−0.125%	$31.0M	$25.7M	200x	as long as short
Binance AAVEUSDT	+0.0034%	8h	143.96	−0.132%	$65.4M	$185.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	143.95	−0.142%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0045%	8h	143.97	−0.125%	$17.3M	$66.1M	50x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.16	+0.005%	$179K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.85	−0.208%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	143.97	−0.126%	$3.4M	$2.1M	50x	as long as short
Bulk AAVE-USD	+0.0056%	1h	143.94	−0.146%	$60K	$3K	10x	as long as short
Gate AAVE_USDT	+0.0068%	8h	144.00	−0.104%	$7.8M	$15.8M	75x	as long as short
GRVT AAVE_USDT_Perp	+0.0085%	8h	143.94	−0.146%	$451K	$3.9M	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	143.89	−0.180%	$122K	$146	10x	as long as short
Lighter AAVElong	+0.0096%	1h	144.15	long leg	$4.6M	$1.6M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.16	+0.004%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.07	−0.052%	$798K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.10	−0.035%	$79.0M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.93	−0.154%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.16	+0.004%	$328K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.98	−0.118%	$61.2M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.12	−0.021%	$50K	$273K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.94	−0.146%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.96	−0.132%	$30.0M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.97	−0.125%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.00	−0.104%	$380K	$709K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.92	−0.158%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.90	−0.170%	$102K	$315K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.92	−0.160%	$134K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.13	−0.014%	$126K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.94	−0.142%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDTshort	+0.0100%	8h	144.24	+0.059%	$717K	$4.9M	75x
Phemex AAVEUSDT	+0.0100%	8h	143.94	−0.146%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.93	−0.150%	$924K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0136%	8h	143.85	−0.208%	$3.4M	$4.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.92	−0.158%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	143.80	−0.243%	$772K	$3.0M	50x	as long as short