Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.039%

Price spread now: Kalshi against Aevo−0.346%52s7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as 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−$1711.708% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.346%, 7d avg −0.094%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.252% cheaper against Aevo than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.094%). Swap the legs. The two prices were read 52 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	Aevo AAVE-PERP	143.94	0.0104	pay 0.0013% / 1h	55m 17s	$122K	$146	10x
Short	Kalshi KXAAVEPERP	143.44	0	get 0.0000% / 8h	7h 55m	$55K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now −0.346%Rate

Funding earned: −$21.84
Price spread: −0.346% → −0.094%: −$25.19
Slippage, 4 orders: −$144.76
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$217.79
Costs to cover: 1.708%
Break-even: never at this rate

Slippage from Aevo: live order book, 63 min ago; Kalshi: live order book, 3 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 Aevo live order book, 63 min ago	42.45 bp	60.1 bp −$60	269.4 bp −$2,694	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	0.35 bp	10.4 bp −$10	17.7 bp −$177	doesn't fit	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	143.66	−0.197%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	143.44	−0.346%	$55K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.47	−0.325%	$220K	$401K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.96	+0.018%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.848%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.86	−0.057%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	143.95	+0.008%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0051%	8h	143.47	−0.325%	$4.0M	$3.7M	50x	as long as short
Phoenix AAVE	+0.0056%	1h	143.71	−0.158%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0056%	1h	143.85	−0.058%	$846K	$404K	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	143.84	−0.070%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.59	−0.243%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.85	−0.063%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.70	−0.165%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.95	+0.006%	$64.2M	$187.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.98	+0.029%	$61.9M	$67.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.93	−0.006%	$17.2M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.90	−0.026%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.53	−0.978%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.96	+0.015%	$8.2M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.90	−0.026%	$25.1M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.84	−0.068%	$10.6M	$9.3M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.90	−0.026%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.95	+0.008%	—	$43.8M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.388%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.58	−0.249%	$103K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.54	−0.278%	$462K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.60	−0.235%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.91	−0.020%	$125K	$439K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.35	−0.411%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.37	−0.395%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.55	−0.270%	$690K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.72	−0.151%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERPlong	+0.0104%	1h	143.94	long leg	$122K	$146	10x
Backpack AAVE_USDC_PERP	+0.0117%	1h	143.53	−0.284%	$337K	$720K	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	143.87	−0.047%	$11K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.85	−0.065%	$185K	$250K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.49	−0.311%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0247%	1h	143.49	−0.312%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.94	−0.002%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.82	−0.082%	$789K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0409%	1h	144.09	+0.106%	$79.2M	$36.7M	10x	as long as short