Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.268%

Price spread now: MEXC against Deribit−0.007%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs+$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.413%+$41 on $10k

Price spread, last 4 days (all we have)−0.303%−$30 · spread now −0.007%, 7d avg +0.026%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.033% cheaper against Deribit than usual: you would sell low and buy high (spread −0.007% now, against its 7-day average of +0.026%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	142.77	0	get 0.0000% / 1h	19m 56s	$219K	$401K	50x
Short	MEXC AAVE_USDT	142.76	0.0100	get 0.0100% / 8h	4h 19m	$25.1M	$23.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.007%Rate

Funding earned: $21
Price spread: −0.007% → +0.026%: −$3.28
Slippage, 4 orders: −$17.04
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$6.32
Costs to cover: 0.240%
Break-even: 9.1 days

Slippage from Deribit: live order book, 34 min ago; MEXC: live order book, 4 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 Deribit live order book, 34 min ago	5.26 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.35 bp	1.6 bp −$2	6.6 bp −$66	35.9 bp −$3,593	102.5 bp −$51.2K

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
01 Exchange AAVEUSD	−0.0144%	1h	142.74	−0.021%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.88	+0.077%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.82	+0.035%	$46K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	142.77	long leg	$219K	$401K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.81	+0.029%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0011%	1h	142.84	+0.053%	$842K	$448K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.069%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.72	−0.039%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	142.75	−0.014%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0056%	1h	142.95	+0.126%	$4K	$102K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	142.90	+0.092%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.89	+0.085%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.81	+0.028%	$76.9M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.80	+0.019%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.87	+0.073%	$327K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.76	−0.009%	$63.8M	$186.5M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.77	0.000%	$61.1M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.73	−0.028%	$17.1M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.94	+0.119%	$64K	$203K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.077%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.80	+0.021%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDTshort	+0.0100%	8h	142.76	−0.007%	$25.1M	$23.8M	200x
KuCoin AAVEUSDTM	+0.0100%	8h	142.78	+0.007%	$10.5M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.69	−0.056%	$29.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.76	−0.007%	—	$43.8M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.85	+0.056%	$336K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.71	−0.043%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.74	−0.023%	$103K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.72	−0.036%	$459K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.82	+0.035%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.79	+0.014%	$125K	$386K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.71	−0.040%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.78	+0.007%	$5K	$292K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.97	+0.137%	$688K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.72	−0.035%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.74	−0.023%	$896K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.81	+0.025%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.89	+0.081%	$178K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.68	−0.063%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.81	+0.026%	$112K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0324%	1h	142.87	+0.068%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.95	+0.126%	$793K	$2.8M	50x	as long as short