Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.057%

Price spread now: MEXC against Coinbase International+0.014%7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 3 days (all we have)−0.148%−$15 · spread now +0.014%, 7d avg −0.061%

Together, before fees−0.355%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.075% dearer against Coinbase International than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.061%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.207% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	145.06	0.0272	pay 0.0034% / 1h	13m 12s	$787K	$3.0M	50x
Short	MEXC AAVE_USDT	145.08	0.0036	get 0.0036% / 8h	1h 13m	$30.8M	$25.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$49.56
Price spread: +0.014% → −0.061%: $7.47
Slippage, 4 orders: −$19.16
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$71.25
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; MEXC: live order book, 1 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 Coinbase International live order book, 1 min ago	6.20 bp	12.9 bp −$13	16.8 bp −$168	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.34 bp	1.9 bp −$2	4.0 bp −$40	17.9 bp −$1,793	99.4 bp −$49.7K

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
01 Exchange AAVEUSD	−0.0136%	1h	145.04	−0.014%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0045%	1h	145.09	+0.021%	$5K	$100K	10x	as long as short
SoDEX AAVE-USD	−0.0040%	1h	145.08	+0.014%	$5K	$298K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	145.07	+0.007%	$255K	$465K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.12	+0.040%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	145.11	+0.034%	$66K	$1.5M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.08	+0.014%	$70K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.584%	$422	$51K	12x	as long as short
MEXC AAVE_USDTshort	+0.0036%	8h	145.08	+0.014%	$30.8M	$25.9M	200x
Binance AAVEUSDT	+0.0036%	8h	145.09	+0.021%	$66.1M	$185.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.99	−0.051%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	145.07	+0.006%	$180K	$244K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.02	−0.028%	$18K	$12K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	145.18	+0.082%	$3.5M	$2.1M	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0057%	8h	145.10	+0.028%	$17.6M	$66.9M	50x	as long as short
Gate AAVE_USDT	+0.0062%	8h	145.09	+0.021%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.11	+0.031%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.29	+0.162%	$4.7M	$1.6M	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0097%	8h	145.01	−0.031%	$458K	$3.8M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.05	−0.006%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.01	−0.031%	$802K	$437K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.21	+0.103%	$79.8M	$33.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.10	+0.028%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.08	+0.012%	$331K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.10	+0.028%	$61.7M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.01	−0.034%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.07	+0.010%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.06	0.000%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.10	+0.028%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.08	+0.014%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.20	+0.097%	$347K	$725K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.10	+0.025%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.96	−0.068%	$104K	$317K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.94	−0.083%	$135K	$228K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.08	+0.014%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.03	−0.019%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.12	+0.043%	$695K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.05	−0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.02	−0.029%	$931K	$1.7M	50x	as long as short
BloFin AAVE-USDT	+0.0144%	8h	145.05	−0.007%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.08	+0.015%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0272%	1h	145.06	long leg	$787K	$3.0M	50x