Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.071%

Price spread now: Coinbase International against MEXC+0.014%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now +0.014%, 7d avg +0.062%

Together, before fees+0.290%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.048% cheaper against MEXC than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.062%). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.231% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	142.55	0.0100	pay 0.0100% / 8h	2h 38m	$25.3M	$24.0M	200x
Short	Coinbase International AAVE-PERP-INTX	142.57	0.0376	get 0.0047% / 1h	38m 05s	$775K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.014%Rate

Funding earned: $57.96
Price spread: +0.014% → +0.062%: −$4.84
Slippage, 4 orders: −$16.84
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $26.27
Costs to cover: 0.268%
Break-even: 3.8 days

Slippage from MEXC: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	0.35 bp	2.1 bp −$2	6.5 bp −$65	29.3 bp −$2,928	108.3 bp −$54.2K
Sell Coinbase International live order book, 1 min ago	2.81 bp	9.8 bp −$10	15.0 bp −$150	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
Nado AAVE-PERP	−0.0008%	1h	142.44	−0.077%	$830K	$402K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.42	−0.095%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.40	−0.105%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.54	−0.007%	$218K	$393K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.48	−0.051%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.921%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.51	−0.025%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0065%	8h	142.49	−0.042%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0076%	8h	142.48	−0.049%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	142.47	−0.056%	$10K	$2K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.33	−0.156%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.71	+0.112%	$78.0M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.63	+0.053%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.43	−0.084%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.63	+0.054%	$63.6M	$189.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.54	−0.007%	$61.1M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.51	−0.028%	$17.1M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.50	−0.035%	$63K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	−0.019%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.52	−0.021%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDTlong	+0.0100%	8h	142.55	long leg	$25.3M	$24.0M	200x
KuCoin AAVEUSDTM	+0.0100%	8h	142.54	−0.007%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.51	−0.028%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.53	−0.014%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.41	−0.097%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	+0.103%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.49	−0.043%	$446K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.49	−0.042%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.60	+0.035%	$134K	$459K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.48	−0.046%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.53	−0.014%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.82	+0.189%	$682K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.48	−0.051%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.54	−0.010%	$120K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0113%	1h	142.68	+0.091%	$335K	$728K	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.39	−0.112%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.47	−0.059%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.24	−0.217%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.63	+0.059%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.47	−0.055%	$111K	—	100x	as long as short
Lighter AAVE	+0.0312%	1h	142.74	+0.131%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0376%	1h	142.57	+0.014%	$775K	$2.8M	50x