Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.027%

Price spread now: SoDEX against MEXC−0.063%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.140% of the position

Long on MEXC Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.341%+$34 · spread now −0.063%, 7d avg −0.021%

Together, before fees+0.287%+$29 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 SoDEX is 0.042% cheaper against MEXC than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	142.34	0.0100	pay 0.0100% / 8h	4h 43m	$25.1M	$23.7M	200x
Short	SoDEX AAVE-USD	142.25	−0.0014	pay 0.0002% / 1h	43m 52s	$5K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$24.01
Price spread: −0.063% → −0.021%: −$4.2
Slippage, 4 orders: −$6.02
Fee MEXC: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$42.23
Costs to cover: 0.140%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; SoDEX: live order book, 15 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	0.35 bp	2.4 bp −$2	6.2 bp −$62	34.1 bp −$3,413	98.4 bp −$49.2K
Sell SoDEX live order book, 15 min ago	0.35 bp	5.0 bp −$5	10.7 bp −$107	98.7 bp −$9,867	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
01 Exchange AAVEUSD	−0.0176%	1h	142.19	−0.105%	$10K	$2K	5x	as long as short
SoDEX AAVE-USDshort	−0.0014%	1h	142.25	−0.063%	$5K	$299K	10x
dYdX AAVE-USD	0.0000%	1h	142.14	−0.137%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.22	−0.084%	$47K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.25	−0.063%	$220K	$399K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.27	−0.047%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.780%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.23	−0.078%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.26	−0.056%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0047%	1h	142.19	−0.105%	$842K	$447K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.04	−0.211%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.31	−0.022%	$4.6M	$1.9M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.13	−0.146%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.46	+0.084%	$76.8M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.39	+0.033%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.18	−0.113%	$323K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.33	−0.007%	$63.6M	$185.7M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.35	+0.007%	$60.9M	$66.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.36	+0.014%	$17.1M	$63.9M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.29	−0.035%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	−0.155%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.36	+0.014%	$8.1M	$15.7M	75x	as long as short
MEXC AAVE_USDTlong	+0.0100%	8h	142.34	long leg	$25.1M	$23.7M	200x
KuCoin AAVEUSDTM	+0.0100%	8h	142.30	−0.028%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.27	−0.049%	$29.0M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.32	−0.014%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.46	+0.084%	$338K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.05	−0.205%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.83	−0.358%	$102K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.90	−0.311%	$448K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.81	−0.372%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.29	−0.035%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.24	−0.071%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.46	+0.081%	$685K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.28	−0.042%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.24	−0.072%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.26	−0.056%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.27	−0.047%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.04	−0.211%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.28	−0.040%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0325%	1h	142.34	+0.002%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.28	−0.042%	$776K	$2.8M	50x	as long as short