Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.042%

Price spread now: Kalshi against Extended−0.052%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 3 days (all we have)+0.209%+$21 · spread now −0.052%, 7d avg −0.017%

Together, before fees−0.003%+ Points / potential airdropExtended: Active · farm board$0 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 0.036% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AAVE-USD	145.86	0.0104	pay 0.0013% / 1h	1m 40s	$934K	$1.7M	50x
Short	Kalshi KXAAVEPERP	145.78	0	get 0.0000% / 8h	4h 01m	$78K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now −0.052%Rate

Funding earned: −$21.84
Price spread: −0.052% → −0.017%: −$3.57
Slippage, 4 orders: −$29.31
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$69.72
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Extended: live order book, 2 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 Extended live order book, 2 min ago	1.37 bp	8.9 bp −$9	25.0 bp −$250	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	5.49 bp	15.9 bp −$16	24.1 bp −$241	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
SoDEX AAVE-USD	−0.0127%	1h	145.77	−0.059%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.79	−0.046%	$255K	$391K	50x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	145.72	−0.094%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.43	−0.292%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.96	+0.073%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	145.78	−0.052%	$78K	$1.5M	3.4x
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.90	+0.030%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.83	−0.018%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.86	+0.002%	$29.6M	$26.1M	200x	as long as short
Binance AAVEUSDT	+0.0028%	8h	145.90	+0.033%	$66.3M	$187.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.100%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.71	−0.101%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.74	−0.080%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	145.88	+0.016%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.90	+0.030%	$7.9M	$16.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.79	−0.047%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.08	+0.150%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.89	+0.024%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.66	−0.135%	$800K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.01	+0.105%	$80.2M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.95	+0.062%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.92	+0.045%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.89	+0.023%	$62.3M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.91	+0.037%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.185%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.90	+0.030%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.84	−0.011%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.89	+0.023%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.99	+0.091%	$349K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.20	−0.453%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.56	−0.201%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.40	−0.312%	$454K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.31	−0.375%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.80	−0.039%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.76	−0.063%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.04	+0.125%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.77	−0.059%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USDlong	+0.0104%	1h	145.86	long leg	$934K	$1.7M	50x
RISEx AAVE/USDC	+0.0106%	1h	145.96	+0.068%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0114%	8h	145.86	+0.002%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.81	−0.030%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.81	−0.032%	$794K	$3.0M	50x	as long as short