Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.293%

Price spread now: Deribit against MEXC+0.109%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

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

Long on MEXC Short on Deribit

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)+0.006%+$1 · spread now +0.109%, 7d avg −0.026%

Together, before fees−0.431%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.136% dearer against MEXC than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of −0.026%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days. At the pace of the last 7 days (−0.437% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	146.37	0.0023	pay 0.0023% / 8h	7h 13m	$28.8M	$25.9M	200x
Short	Deribit AAVE_USDC-PERPETUAL	146.53	0	get 0.0000% / 1h	13m 31s	$255K	$368K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$4.83
Price spread: +0.109% → −0.026%: $13.57
Slippage, 4 orders: −$16.81
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$15.07
Costs to cover: 0.238%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Deribit: live order book, 55 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	0.34 bp	2.5 bp −$2	7.4 bp −$74	38.6 bp −$3,863	127.3 bp −$63.6K
Sell Deribit live order book, 55 min ago	4.12 bp	7.6 bp −$8	14.6 bp −$146	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.61	+0.165%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.29	−0.055%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0080%	1h	146.48	+0.075%	$5K	$295K	10x	as long as short
Phemex AAVEUSDT	−0.0062%	8h	146.50	+0.089%	$4.2M	$3.8M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.44	+0.046%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.47	+0.068%	$78K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.55	+0.123%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	146.53	+0.109%	$255K	$368K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.55	+0.121%	$71K	—	150x	as long as short
MEXC AAVE_USDTlong	+0.0023%	8h	146.37	long leg	$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	146.45	+0.055%	$66.3M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.429%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.43	+0.039%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0045%	8h	146.47	+0.068%	$18K	$10K	10x	as long as short
ApeX Omni AAVEUSDT	+0.0046%	1h	146.45	+0.055%	$136K	$231K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.43	+0.041%	$17.9M	$66.3M	50x	as long as short
Gate AAVE_USDT	+0.0084%	8h	146.39	+0.014%	$7.9M	$15.3M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.48	+0.075%	$124K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0093%	8h	146.39	+0.014%	$3.5M	$3.5M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.52	+0.104%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.36	−0.007%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.44	+0.048%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.43	+0.041%	$79.8M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.37	+0.003%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.42	+0.032%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.45	+0.055%	$62.7M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.39	+0.014%	$46K	$270K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.79	−0.399%	$59K	$2K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.36	−0.007%	$11.1M	$9.0M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.45	+0.055%	$30.3M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.37	0.000%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.55	+0.123%	$332K	$736K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.27	−0.067%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.39	+0.017%	$106K	$319K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.46	+0.061%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.54	+0.116%	$127K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.45	+0.057%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.82	+0.307%	$714K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.33	−0.029%	$939K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.42	+0.032%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	146.55	+0.120%	$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