Doing this on aave would actually be net profitable right now with the "liquidity incentives" they offer, and you can apply leverage (deposit USDC, borrow USDT,

Doing this on aave would actually be net profitable right now with the "liquidity incentives" they offer, and you can apply leverage (deposit USDC, borrow USDT, swap for USDC, deposit again, ...). The rates aren't fixed, so you'd have to watch it, but it would be an interesting strategy.