Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.020%

Price spread now: Lighter against MEXC+0.058%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days+0.023%+$2 · spread now +0.058%, 7d avg +0.096%

Together, before fees+0.106%+ Points / potential airdropLighter: Season 3 · farm board+$11 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 0.039% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	144.09	0.0093	pay 0.0093% / 8h	5h 53m	$26.3M	$23.4M	200x
Short	Lighter AAVE	144.17	0.0096	get 0.0012% / 1h	53m 21s	$4.6M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.058%Rate

Funding earned: $0.63
Price spread: +0.058% → +0.096%: −$3.86
Slippage, 4 orders: −$19.43
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.65
Costs to cover: 0.194%
Break-even: 258.7 days

Slippage from MEXC: live order book, 5 min ago; Lighter: live order book, 4 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 MEXC live order book, 5 min ago	0.35 bp	0.6 bp −$1	5.8 bp −$58	40.8 bp −$4,080	109.2 bp −$54.6K
Sell Lighter live order book, 4 min ago	2.29 bp	5.8 bp −$6	16.2 bp −$162	49.1 bp −$4,910	doesn't fit

AAVE on 41 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
Deribit AAVE_USDC-PERPETUAL	−0.6483%	1h	143.09	−0.694%	$243K	$370K	50x	as long as short
ApeX Omni AAVEUSDT	−0.0648%	1h	143.72	−0.257%	$134K	$219K	50x	as long as short
01 Exchange AAVEUSD	−0.0064%	1h	144.07	−0.014%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.99	−0.067%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	143.97	−0.083%	$72K	$1.4M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.24	+0.101%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.948%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.02	−0.048%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.26	+0.118%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	144.07	−0.014%	$5K	$98K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AAVE-USDT-SWAP	+0.0090%	8h	144.25	+0.111%	$17.3M	$63.5M	50x	as long as short
MEXC AAVE_USDTlong	+0.0093%	8h	144.09	long leg	$26.3M	$23.4M	200x
Binance AAVEUSDT	+0.0094%	8h	144.22	+0.093%	$65.0M	$180.9M	75x	as long as short
Lighter AAVEshort	+0.0096%	1h	144.17	+0.058%	$4.6M	$1.5M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	144.07	−0.014%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.00	−0.066%	$801K	$409K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.20	+0.076%	$78.0M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.04	−0.036%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.04	−0.035%	$328K	$433K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.25	+0.111%	$61.7M	$63.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.10	+0.007%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.04	−0.031%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.20	+0.076%	$7.8M	$15.0M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.11	+0.014%	$10.7M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.22	+0.090%	$30.0M	$17.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.19	+0.069%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.04	−0.035%	$322K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.60	+0.355%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.08	−0.007%	$104K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.82	−0.186%	$451K	$3.8M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.07	−0.014%	$126K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.90	−0.129%	$1K	$1.2M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.23	+0.097%	$5K	$291K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.27	+0.127%	$698K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.96	−0.090%	$4.1M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.00	−0.064%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.29	+0.139%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0195%	1h	144.12	+0.022%	$199K	$228K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0259% / S −0.0412%	1h	144.24	+0.101%	$124K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0267%	1h	144.14	+0.033%	$3.5M	$2.0M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	144.56	+0.326%	$777K	$2.8M	50x	as long as short