Funding you earn now, next payment 22:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.035%
Price spread now: Kalshi against GMX−0.017%7-day average −0.135% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.046%+$5 on $10k
+Price spread, last 3 days (all we have)−0.223%−$22 · spread now −0.017%, 7d avg −0.135%
=The price spread pays, funding is against you. Kalshi is 0.119% dearer against GMX than usual: you sell high and buy low (spread −0.017% now, against its 7-day average of −0.135%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 36 hours.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.046% in total (about 5.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX AAVE/USD [AAVE-USDC] | 144.22 | L +0.0266% / S −0.0438% | pay 0.0033% / 1h | 20m 20s | $124K | — | 100x |
| Short | Kalshi KXAAVEPERP | 144.20 | 0 | get 0.0000% / 8h | 6h 20m | $71K | $1.5M | 3.4x |
GMX AAVE/USD [AAVE-USDC]
Kalshi KXAAVEPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$55.86
- Price spread: −0.017% → −0.135%
- $11.86
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$66
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Kalshi: live order book, 3 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 3 min ago | 6.23 bp | 12.6 bp −$13 | 16.4 bp −$164 | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit AAVE_USDC-PERPETUAL | −0.0512% | 1h | 144.16 | −0.044% | $248K | $483K | 50x | as long as short |
| SoDEX AAVE-USD | −0.0202% | 1h | 144.07 | −0.107% | $5K | $299K | 10x | as long as short |
| 01 Exchange AAVEUSD | −0.0128% | 1h | 144.18 | −0.031% | $11K | $2K | 5x | as long as short |
| Phoenix AAVE | −0.0044% | 1h | 144.53 | +0.212% | $5K | $101K | 10x | as long as short |
| dYdX AAVE-USD | 0.0000% | 1h | 144.27 | +0.031% | $103K | $5K | 10x | as long as short |
| Kalshi KXAAVEPERPshort | 0.0000% | 8h | 144.20 | −0.017% | $71K | $1.5M | 3.4x | |
| gTrade (Gains Network) AAVE/USD | L +0.0005% / S −0.0004% | 1h | 144.23 | +0.003% | $70K | — | 150x | as long as short |
| Kraken Futures PF_AAVEUSD | +0.0012% | 1h | 144.21 | −0.013% | $3.4M | $2.1M | 50x | as long as short |
| Injective AAVE/USDC PERP | +0.0033% | 1h | 136.96 | −5.037% | $422 | $51K | 12x | as long as short |
| Reya AAVERUSDPERP | +0.0044% | 1h | 144.13 | −0.063% | — | — | 20x | as long as short |
Deribit AAVE_USDC-PERPETUAL
SoDEX AAVE-USD
01 Exchange AAVEUSD
Phoenix AAVE
dYdX AAVE-USD
gTrade (Gains Network) AAVE/USD
Kraken Futures PF_AAVEUSD
Injective AAVE/USDC PERP
Reya AAVERUSDPERPShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate AAVE_USDT | +0.0047% | 8h | 144.14 | −0.058% | $7.7M | $15.9M | 75x | as long as short |
| OKX AAVE-USDT-SWAP | +0.0049% | 8h | 144.09 | −0.093% | $17.4M | $65.9M | 50x | as long as short |
| ApeX Omni AAVEUSDT | +0.0050% | 1h | 144.35 | +0.087% | $134K | $229K | 50x | as long as short |
| Orderly PERP_AAVE_USDC | +0.0051% | 8h | 144.14 | −0.058% | $18K | $12K | 10x | as long as short |
| MEXC AAVE_USDT | +0.0052% | 8h | 144.11 | −0.079% | $31.3M | $26.3M | 200x | as long as short |
| Binance AAVEUSDT | +0.0053% | 8h | 144.05 | −0.121% | $65.5M | $184.6M | 75x | as long as short |
| GRVT AAVE_USDT_Perp | +0.0088% | 8h | 144.39 | +0.114% | $460K | $3.9M | 10x | as long as short |
| Nado AAVE-PERP | +0.0092% | 1h | 144.13 | −0.063% | $800K | $436K | 10x | as long as short |
| Lighter AAVE | +0.0096% | 1h | 144.28 | +0.042% | $4.6M | $1.6M | 10x | as long as short |
| Aevo AAVE-PERP | +0.0096% | 1h | 144.14 | −0.062% | $122K | $146 | 10x | as long as short |
| RISEx AAVE/USDC | +0.0097% | 1h | 144.20 | −0.015% | $179K | $243K | 10x | as long as short |
| Paradex AAVE-USD-PERP | +0.0100% | 8h | 144.12 | −0.071% | $13K | $4K | 20x | as long as short |
| Hyperliquid AAVE | +0.0100% | 1h | 144.30 | +0.053% | $80.2M | $33.1M | 10x | as long as short |
| Aster AAVEUSDT | +0.0100% | 8h | 144.27 | +0.031% | $1.3M | $1.2M | 50x | as long as short |
| Pacifica AAVE | +0.0100% | 1h | 144.21 | −0.012% | $328K | $505K | 10x | as long as short |
| Bybit AAVEUSDT | +0.0100% | 8h | 144.11 | −0.079% | $61.3M | $65.4M | 75x | as long as short |
| Arcus AAVE-USD | +0.0100% | 1h | 144.14 | −0.058% | $50K | $273K | 10x | as long as short |
| KuCoin AAVEUSDTM | +0.0100% | 8h | 144.19 | −0.024% | $10.2M | $8.6M | 75x | as long as short |
| Bitget AAVEUSDT | +0.0100% | 8h | 144.21 | −0.010% | $30.1M | $18.2M | 75x | as long as short |
| BingX AAVE-USDT | +0.0100% | 8h | 144.15 | −0.051% | — | $43.9M | — | as long as short |
| Backpack AAVE_USDC_PERP | +0.0100% | 1h | 144.44 | +0.150% | $377K | $704K | 10x | as long as short |
| Variational Omni AAVE | +0.0100% | 8h | 144.27 | +0.030% | $3.8M | $1.3M | — | as long as short |
| edgeX AAVEUSDC | +0.0100% | 4h | 144.40 | +0.124% | $101K | $313K | 20x | as long as short |
| Polymarket Perps AAVE-USD | +0.0100% | 1h | 144.22 | −0.003% | $126K | $468K | 10x | as long as short |
| SunX AAVE-USDT | +0.0100% | 8h | 144.12 | −0.072% | $1K | $1.3M | 20x | as long as short |
| HTX AAVE-USDT | +0.0100% | 8h | 144.27 | +0.035% | $718K | $4.9M | 75x | as long as short |
| Phemex AAVEUSDT | +0.0100% | 8h | 144.14 | −0.058% | $4.1M | $3.8M | 50x | as long as short |
| Bulk AAVE-USD | +0.0100% | 1h | 144.33 | +0.077% | $61K | $3K | 10x | as long as short |
| Extended AAVE-USD | +0.0104% | 1h | 144.06 | −0.114% | $924K | $1.8M | 50x | as long as short |
| BloFin AAVE-USDT | +0.0173% | 8h | 144.37 | +0.101% | $3.5M | $5.3M | 100x | as long as short |
| Coinbase International AAVE-PERP-INTX | +0.0248% | 1h | 144.36 | +0.094% | $777K | $3.0M | 50x | as long as short |
| GMX AAVE/USD [AAVE-USDC]long | L +0.0266% / S −0.0438% | 1h | 144.22 | long leg | $124K | — | 100x |
Gate AAVE_USDT
OKX AAVE-USDT-SWAP
ApeX Omni AAVEUSDT
Orderly PERP_AAVE_USDC
MEXC AAVE_USDT
Binance AAVEUSDT
GRVT AAVE_USDT_Perp
Nado AAVE-PERP
Lighter AAVE
Aevo AAVE-PERP
RISEx AAVE/USDC
Paradex AAVE-USD-PERP
Hyperliquid AAVE
Aster AAVEUSDT
Pacifica AAVE
Bybit AAVEUSDT
Arcus AAVE-USD
KuCoin AAVEUSDTM
Bitget AAVEUSDT
BingX AAVE-USDT
Backpack AAVE_USDC_PERP
Variational Omni AAVE
edgeX AAVEUSDC
Polymarket Perps AAVE-USD
SunX AAVE-USDT
HTX AAVE-USDT
Phemex AAVEUSDT
Bulk AAVE-USD
Extended AAVE-USD
BloFin AAVE-USDT
Coinbase International AAVE-PERP-INTX