Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.247%

Price spread now: Kalshi against Deribit−0.056%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$510.505% of the position

Long on Deribit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.266%+$27 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now −0.056%, 7d avg −0.066%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AAVE_USDC-PERPETUAL	142.12	0	get 0.0000% / 1h	45m 48s	$220K	$399K	50x
Short	Kalshi KXAAVEPERP	142.04	0	get 0.0000% / 8h	45m 48s	$47K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → −0.066%: $0.93
Slippage, 4 orders: −$33.54
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$49.62
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from Deribit: live order book, 8 min ago; Kalshi: live order book, 2 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, 8 min ago	5.26 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	5.64 bp	15.0 bp −$15	23.0 bp −$230	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
01 Exchange AAVEUSD	−0.0176%	1h	141.96	−0.113%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0037%	1h	142.19	+0.049%	$5K	$298K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.14	+0.017%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	142.04	−0.056%	$47K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUALlong	0.0000%	1h	142.12	long leg	$220K	$399K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.09	−0.018%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.631%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.00	−0.087%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	142.11	−0.007%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0049%	1h	142.13	+0.004%	$842K	$447K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.03	−0.063%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.14	+0.014%	$4.5M	$1.9M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.12	+0.002%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.10	−0.014%	$76.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.16	+0.028%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.07	−0.034%	$323K	$433K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.08	−0.028%	$63.5M	$185.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.03	−0.063%	$60.7M	$66.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.97	−0.106%	$17.0M	$63.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.15	+0.021%	$63K	$204K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.14	+0.014%	$8.0M	$15.6M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.15	+0.021%	$25.1M	$23.6M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.14	+0.014%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.89	−0.162%	$28.9M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.09	−0.021%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.27	+0.106%	$338K	$715K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.05	−0.050%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.89	−0.161%	$102K	$279K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.90	−0.157%	$448K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.88	−0.169%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.09	−0.021%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.05	−0.049%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.25	+0.090%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.14	+0.014%	$4.0M	$3.7M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.68	+0.392%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.11	−0.005%	$895K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.17	+0.032%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	142.12	−0.002%	$177K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.91	−0.148%	$3.3M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.08	−0.026%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0325%	1h	142.27	+0.104%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.12	0.000%	$775K	$2.8M	50x	as long as short