Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0118%/8h= +13.0% APRpaid last 24h +0.034%

Price spread now: MEXC against SoDEX0.000%7-day average +0.021% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on SoDEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.056%+$6 on $10k

Price spread, last 3 days (all we have)−0.094%−$9 · spread now 0.000%, 7d avg +0.021%

Together, before fees−0.037%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.021% cheaper against SoDEX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.021%). If the spread goes back, that is −$2 on $10k: about 14 hours of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.056% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	145.81	−0.0095	get 0.0012% / 1h	38m 12s	$5K	$305K	10x
Short	MEXC AAVE_USDT	145.81	0.0023	get 0.0023% / 8h	7h 38m	$29.2M	$25.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SoDEX. 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 SoDEXbpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $24.88
Price spread: 0.000% → +0.021%: −$2.14
Slippage, 4 orders: −$4.99
Fee SoDEX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: $9.74
Costs to cover: 0.130%
Break-even: 4.3 days

Slippage from SoDEX: live order book, 35 min ago; MEXC: live order book, 6 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 SoDEX live order book, 35 min ago	0.34 bp	5.3 bp −$5	10.4 bp −$104	95.3 bp −$9,532	doesn't fit
Sell MEXC live order book, 6 min ago	0.34 bp	1.4 bp −$1	6.4 bp −$64	41.8 bp −$4,183	90.4 bp −$45.2K

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	−0.0185%	1h	145.89	+0.057%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.71	−0.069%	$11K	$2K	5x	as long as short
SoDEX AAVE-USDlong	−0.0095%	1h	145.81	long leg	$5K	$305K	10x
Deribit AAVE_USDC-PERPETUAL	−0.0024%	1h	145.85	+0.027%	$254K	$373K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.78	−0.022%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.98	+0.117%	$77K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.21	+0.274%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.86	+0.036%	$71K	—	150x	as long as short
Binance AAVEUSDT	+0.0022%	8h	145.86	+0.034%	$66.1M	$186.2M	75x	as long as short
MEXC AAVE_USDTshort	+0.0023%	8h	145.81	0.000%	$29.2M	$25.8M	200x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.070%	$422	$51K	12x	as long as short
Gate AAVE_USDT	+0.0037%	8h	145.84	+0.021%	$7.9M	$15.2M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.77	−0.029%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	145.79	−0.014%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0060%	8h	145.79	−0.014%	$4.1M	$3.8M	50x	as long as short
Bybit AAVEUSDT	+0.0062%	8h	145.88	+0.048%	$62.4M	$65.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	145.91	+0.069%	$17.9M	$67.0M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0069%	1h	145.93	+0.082%	$136K	$230K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.83	+0.013%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0094%	8h	145.78	−0.021%	$3.5M	$4.0M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.01	+0.139%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.86	+0.038%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.70	−0.072%	$797K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.93	+0.082%	$79.6M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.90	+0.062%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.78	−0.023%	$333K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.84	+0.021%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.72	−0.062%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.89	+0.055%	$10.0M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.86	+0.034%	$30.3M	$18.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.92	+0.075%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.02	+0.144%	$346K	$733K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.08	+0.187%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.02	+0.141%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.12	+0.211%	$462K	$3.9M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.87	+0.041%	$128K	$427K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	−0.017%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.12	+0.215%	$698K	$5.1M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.77	−0.024%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.88	+0.045%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.85	+0.025%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.86	+0.034%	$784K	$3.1M	50x	as long as short