Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.293%

Price spread now: MEXC against Deribit−0.014%52s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.238% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.437%+$44 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now −0.014%, 7d avg +0.026%

Together, before fees+0.335%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.040% cheaper against Deribit than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.026%). If the spread goes back, that is −$4 on $10k: about 2.9 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.437% in total) that is about 15 hours. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	146.47	−0.0023	get 0.0003% / 1h	14m 22s	$255K	$369K	50x
Short	MEXC AAVE_USDT	146.45	0.0023	get 0.0023% / 8h	7h 14m	$28.8M	$25.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.014%Rate

Funding earned: $9.66
Price spread: −0.014% → +0.026%: −$4
Slippage, 4 orders: −$16.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$18.15
Costs to cover: 0.238%
Break-even: 20.1 days

Slippage from Deribit: live order book, 55 min ago; MEXC: 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 Deribit live order book, 55 min ago	4.12 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.34 bp	0.7 bp −$1	6.1 bp −$61	39.8 bp −$3,981	134.3 bp −$67.1K

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	146.59	+0.085%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.50	+0.020%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0082%	1h	146.44	−0.020%	$5K	$295K	10x	as long as short
Phemex AAVEUSDT	−0.0070%	8h	146.42	−0.034%	$4.2M	$3.8M	50x	as long as short
Deribit AAVE_USDC-PERPETUALlong	−0.0023%	1h	146.47	long leg	$255K	$369K	50x
dYdX AAVE-USD	0.0000%	1h	146.55	+0.055%	$105K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.43	−0.027%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.33	−0.096%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.55	+0.053%	$71K	—	150x	as long as short
MEXC AAVE_USDTshort	+0.0023%	8h	146.45	−0.014%	$28.8M	$25.9M	200x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0024%	8h	146.50	+0.020%	$66.3M	$183.3M	75x	as long as short
ApeX Omni AAVEUSDT	+0.0024%	1h	146.19	−0.191%	$136K	$231K	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.493%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.44	−0.019%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.47	0.000%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.49	+0.014%	$17.9M	$66.4M	50x	as long as short
Gate AAVE_USDT	+0.0084%	8h	146.51	+0.027%	$7.9M	$15.3M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.46	−0.008%	$124K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0093%	8h	146.39	−0.055%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.69	+0.147%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.46	−0.006%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.44	−0.017%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.60	+0.089%	$79.9M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.53	+0.042%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.50	+0.020%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.49	+0.014%	$62.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.51	+0.027%	$46K	$270K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.467%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.54	+0.048%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.43	−0.027%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.47	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.55	+0.055%	$332K	$736K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.135%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.09	−0.261%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.19	−0.192%	$462K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.52	+0.034%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.41	−0.038%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.77	+0.208%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.43	−0.029%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.53	+0.043%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.55	+0.051%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.42	−0.034%	$785K	$2.9M	50x	as long as short