Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.023%

Price spread now: Orderly against Lighter−0.049%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.049% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	143.26	0.0192	pay 0.0024% / 1h	54m 43s	$4.5M	$2.4M	10x
Short	Orderly PERP_AAVE_USDC	143.19	0.0075	get 0.0075% / 8h	1h 54m	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.049%Rate

Funding earned: −$24.5
Price spread: −0.049% → 0.000%: −$4.89
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$35.39
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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	4.67 bp	5.4 bp −$5	10.5 bp −$105	40.3 bp −$4,026	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	143.11	−0.101%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.27	+0.007%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.18	−0.056%	$218K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.21	−0.038%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.398%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.21	−0.037%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0058%	1h	143.28	+0.014%	$832K	$400K	10x	as long as short
Orderly PERP_AAVE_USDCshort	+0.0075%	8h	143.19	−0.049%	$18K	$10K	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	143.04	−0.157%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.11	−0.105%	$1.2M	$1.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AAVE	+0.0100%	1h	143.10	−0.112%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.04	−0.151%	$64.4M	$191.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.06	−0.140%	$61.6M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.07	−0.133%	$17.1M	$65.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.18	−0.056%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.91	+0.454%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.15	−0.077%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.04	−0.154%	$25.2M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.14	−0.084%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.01	−0.175%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.14	−0.084%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.31	+0.035%	$339K	$727K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.26	0.000%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.52	+0.183%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.33	+0.048%	$453K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.40	+0.098%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.31	+0.035%	$142K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.21	−0.038%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.16	−0.070%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.57	+0.218%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.31	+0.035%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.12	−0.099%	$911K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.20	−0.042%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.73	+0.328%	$4K	$108K	10x	as long as short
01 Exchange AAVEUSD	+0.0160%	1h	143.28	+0.014%	$10K	$2K	5x	as long as short
Lighter AAVElong	+0.0192%	1h	143.26	long leg	$4.5M	$2.4M	10x
BloFin AAVE-USDT	+0.0220%	8h	143.18	−0.056%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.19	−0.050%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	143.28	+0.011%	$196K	$263K	10x	as long as short
Hyperliquid AAVE	+0.0290%	1h	143.31	+0.035%	$78.3M	$37.2M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.40	+0.098%	$765K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0315%	1h	143.25	−0.007%	$3.4M	$2.1M	50x	as long as short