Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.001%

Price spread now: Injective against MEXC−3.867%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.867% cheaper against MEXC than usual: you would sell low and buy high (−$387 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	142.47	0.0100	pay 0.0100% / 8h	2h 38m	$25.3M	$24.0M	200x
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	38m 49s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −3.867%Rate

Funding earned: −$14
Price spread: −3.867% → 0.000%: −$386.75
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$400.77
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.

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	2.0 bp −$2	7.5 bp −$75	42.6 bp −$4,256	133.4 bp −$66.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0006%	1h	142.24	−0.165%	$828K	$402K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.29	−0.124%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.18	−0.204%	$55K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.32	−0.105%	$217K	$393K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.30	−0.121%	$80K	—	150x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−3.867%	$422	$51K	12x
Reya AAVERUSDPERP	+0.0044%	1h	142.23	−0.169%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0065%	8h	142.32	−0.105%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0081%	8h	142.28	−0.133%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	142.30	−0.119%	$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	142.26	−0.149%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.55	+0.056%	$77.9M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.49	+0.014%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.31	−0.112%	$326K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.47	+0.002%	$63.6M	$189.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.36	−0.077%	$61.0M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.37	−0.070%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.36	−0.077%	$63K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.52	+0.037%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.43	−0.028%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDTlong	+0.0100%	8h	142.47	long leg	$25.3M	$24.0M	200x
KuCoin AAVEUSDTM	+0.0100%	8h	142.46	−0.007%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.38	−0.063%	$29.1M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.40	−0.049%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.42	−0.035%	$334K	$728K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.41	−0.041%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	+0.160%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.49	+0.013%	$446K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.49	+0.014%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.30	−0.119%	$133K	$459K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.31	−0.112%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.28	−0.133%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.45	−0.016%	$681K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.40	−0.047%	$903K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.34	−0.088%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.39	−0.056%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.26	−0.150%	$185K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.24	−0.161%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.36	−0.075%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.27	−0.144%	$111K	—	100x	as long as short
Lighter AAVE	+0.0312%	1h	142.64	+0.118%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.38	−0.063%	$778K	$2.8M	50x	as long as short