Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: SoDEX against MEXC−0.119%7-day average −0.025% · 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−$22as in the Price arb table

costs, in and out, $10k−$120.124% 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)−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.213%+$21 · spread now −0.119%, 7d avg −0.025%

Together, before fees+0.162%+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.094% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AAVE_USDT	142.69	0.0100	pay 0.0100% / 8h	1h 21m	$24.6M	$24.1M	200x
Short	SoDEX AAVE-USD	142.52	0.0100	get 0.0013% / 1h	21m 41s	$5K	$285K	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 −0.119%Rate

Funding earned: $0
Price spread: −0.119% → −0.025%: −$9.42
Slippage, 4 orders: −$4.43
Fee MEXC: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$21.85
Costs to cover: 0.124%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; SoDEX: live order book, 22 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, 2 min ago	0.35 bp	0.4 bp $0	5.4 bp −$54	57.0 bp −$5,699	140.9 bp −$70.4K
Sell SoDEX live order book, 22 min ago	0.35 bp	5.0 bp −$5	9.7 bp −$97	95.8 bp −$9,578	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
dYdX AAVE-USD	0.0000%	1h	142.70	+0.007%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.49	−0.140%	$51K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.56	−0.091%	$216K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.66	−0.020%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.016%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.56	−0.089%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0051%	1h	142.62	−0.046%	$828K	$395K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	142.53	−0.112%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.81	+0.084%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.81	+0.088%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.65	−0.026%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.71	+0.016%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.69	+0.003%	$326K	$385K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.72	+0.018%	$64.2M	$188.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.65	−0.028%	$61.5M	$67.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.64	−0.035%	$17.0M	$64.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.76	+0.049%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.431%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.62	−0.049%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDTlong	+0.0100%	8h	142.69	long leg	$24.6M	$24.1M	200x
KuCoin AAVEUSDTM	+0.0100%	8h	142.49	−0.140%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.60	−0.063%	$29.1M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.62	−0.049%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.76	+0.049%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.26	−0.304%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.35	−0.238%	$448K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.36	−0.231%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.69	0.000%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.58	−0.077%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USDshort	+0.0100%	1h	142.52	−0.119%	$5K	$285K	10x
HTX AAVE-USDT	+0.0100%	8h	142.70	+0.007%	$676K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.58	−0.077%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.52	−0.122%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.57	−0.085%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.67	−0.014%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0136%	1h	142.58	−0.077%	$395K	$726K	10x	as long as short
Hyperliquid AAVE	+0.0190%	1h	142.83	+0.098%	$78.1M	$37.0M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.70	+0.007%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.61	−0.057%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.70	+0.005%	$192K	$274K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.23	−0.322%	$754K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.64	−0.037%	$3.4M	$2.1M	50x	as long as short