Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.009%

Price spread now: dYdX against MEXC−0.044%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1511.514% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.044%, 7d avg +0.007%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.051% cheaper against MEXC than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	142.87	0.0100	pay 0.0100% / 8h	2h 36m	$25.4M	$24.0M	200x
Short	dYdX AAVE-USD	142.81	0	get 0.0000% / 1h	36m 44s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$21
Price spread: −0.044% → +0.007%: −$5.14
Slippage, 4 orders: −$141.44
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$177.58
Costs to cover: 1.514%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; dYdX: live order book, 12 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, 2 min ago	0.35 bp	2.1 bp −$2	6.5 bp −$65	29.3 bp −$2,928	108.3 bp −$54.2K
Sell dYdX live order book, 12 min ago	69.02 bp	74.0 bp −$74	138.9 bp −$1,389	160.4 bp −$16.0K	223.4 bp −$111.7K

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	−0.0007%	1h	142.74	−0.094%	$831K	$402K	10x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	142.81	−0.044%	$102K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	142.71	−0.112%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.74	−0.091%	$218K	$393K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.72	−0.107%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.137%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.65	−0.151%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0065%	8h	142.70	−0.119%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0071%	8h	142.75	−0.084%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	142.75	−0.084%	$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	142.88	+0.004%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.93	+0.043%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.91	+0.031%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.89	+0.015%	$63.8M	$189.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.89	+0.014%	$61.2M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.88	+0.007%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.99	+0.084%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	−0.243%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.89	+0.014%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDTlong	+0.0100%	8h	142.87	long leg	$25.4M	$24.0M	200x
KuCoin AAVEUSDTM	+0.0100%	8h	142.91	+0.028%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.84	−0.021%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.87	0.000%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.41	−0.321%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.23	−0.448%	$105K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.24	−0.441%	$445K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.27	−0.420%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.73	−0.098%	$134K	$459K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.77	−0.068%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.81	−0.042%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.94	+0.051%	$683K	$5.2M	75x	as long as short
Hyperliquid AAVE	+0.0102%	1h	143.01	+0.098%	$78.2M	$37.1M	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.84	−0.019%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.75	−0.083%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.58	−0.203%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0129%	1h	142.92	+0.035%	$335K	$728K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.96	+0.060%	$187K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.73	−0.098%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	142.89	+0.015%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.71	−0.111%	$112K	—	100x	as long as short
Lighter AAVE	+0.0320%	1h	143.12	+0.175%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.57	−0.210%	$775K	$2.8M	50x	as long as short