Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.009%

Price spread now: dYdX against MEXC−0.078%47s7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1551.549% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.078%, 7d avg +0.010%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and dYdX is 0.088% cheaper against MEXC than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.010%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	146.60	0.0020	pay 0.0020% / 8h	7h 25m	$29.2M	$25.8M	200x
Short	dYdX AAVE-USD	146.49	0	get 0.0000% / 1h	25m 51s	$105K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$4.2
Price spread: −0.078% → +0.010%: −$8.79
Slippage, 4 orders: −$144.95
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$167.93
Costs to cover: 1.549%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; dYdX: live order book, 48 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, 3 min ago	0.34 bp	1.0 bp −$1	5.9 bp −$59	32.3 bp −$3,229	124.5 bp −$62.3K
Sell dYdX live order book, 48 min ago	67.60 bp	78.8 bp −$79	198.6 bp −$1,986	210.6 bp −$21.1K	221.1 bp −$110.5K

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	−0.0184%	1h	146.76	+0.107%	$3.5M	$2.0M	50x	as long as short
Phemex AAVEUSDT	−0.0170%	8h	146.57	−0.020%	$4.2M	$3.8M	50x	as long as short
01 Exchange AAVEUSD	−0.0152%	1h	146.56	−0.027%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0092%	1h	146.65	+0.034%	$5K	$305K	10x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	146.49	−0.078%	$105K	$4K	10x
Kalshi KXAAVEPERP	0.0000%	8h	146.52	−0.055%	$79K	$1.5M	3.4x	as long as short
Phoenix AAVE	0.0000%	1h	146.31	−0.198%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.66	+0.041%	$256K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.66	+0.041%	$71K	—	150x	as long as short
MEXC AAVE_USDTlong	+0.0020%	8h	146.60	long leg	$29.2M	$25.8M	200x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0020%	8h	146.61	+0.007%	$66.4M	$183.7M	75x	as long as short
Gate AAVE_USDT	+0.0031%	8h	146.63	+0.020%	$7.9M	$15.2M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.576%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.54	−0.043%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	146.61	+0.007%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.61	+0.007%	$18.0M	$66.6M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0071%	1h	146.16	−0.300%	$136K	$231K	50x	as long as short
BloFin AAVE-USDT	+0.0080%	8h	146.32	−0.191%	$3.5M	$3.5M	100x	as long as short
GRVT AAVE_USDT_Perp	+0.0087%	8h	146.23	−0.256%	$460K	$3.8M	10x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.64	+0.029%	$124K	$146	10x	as long as short
Bybit AAVEUSDT	+0.0094%	8h	146.58	−0.014%	$62.8M	$65.0M	75x	as long as short
Lighter AAVE	+0.0096%	1h	146.85	+0.171%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.52	−0.052%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.41	−0.126%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.70	+0.068%	$80.0M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.63	+0.022%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.54	−0.040%	$335K	$502K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.57	−0.020%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.36	−0.167%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.62	+0.014%	$10.2M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.55	−0.034%	$30.4M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.58	−0.014%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.73	+0.089%	$335K	$737K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.55	−0.034%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.16	−0.301%	$105K	$316K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.62	+0.014%	$127K	$415K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.62	+0.016%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	147.00	+0.269%	$715K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.54	−0.039%	$937K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.60	+0.003%	$186K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0233% / S −0.0363%	1h	146.65	+0.033%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.74	+0.095%	$787K	$2.9M	50x	as long as short