Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.034%

Price spread now: ApeX Omni against Kalshi+0.166%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 3 days (all we have)−0.163%−$16 · spread now +0.166%, 7d avg +0.098%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.068% dearer against Kalshi than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	144.53	0	get 0.0000% / 8h	5h 27m	$68K	$1.5M	3.4x
Short	ApeX Omni AAVEUSDT	144.77	0.0100	get 0.0013% / 1h	27m 08s	$135K	$229K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now +0.166%Rate

Funding earned: $21
Price spread: +0.166% → +0.098%: $6.77
Slippage, 4 orders: −$40.45
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$32.68
Costs to cover: 0.604%
Break-even: 17.9 days

Slippage from Kalshi: live order book, 1 min ago; ApeX Omni: live order book, 54 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 Kalshi live order book, 1 min ago	6.92 bp	12.6 bp −$13	18.9 bp −$189	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 54 min ago	6.59 bp	14.8 bp −$15	109.6 bp −$1,096	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	−0.0152%	1h	144.64	+0.076%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0062%	1h	144.72	+0.131%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0045%	1h	144.37	−0.111%	$5K	$100K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0026%	1h	144.75	+0.152%	$254K	$480K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.64	+0.073%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	144.53	long leg	$68K	$1.5M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.74	+0.143%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0032%	8h	144.71	+0.125%	$30.8M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0033%	8h	144.72	+0.129%	$65.9M	$185.7M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.238%	$422	$51K	12x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	144.62	+0.063%	—	—	20x	as long as short
RISEx AAVE/USDC	+0.0046%	1h	144.70	+0.115%	$180K	$246K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	144.70	+0.118%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	144.69	+0.111%	$17.5M	$66.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0054%	1h	144.82	+0.203%	$3.5M	$2.1M	50x	as long as short
Gate AAVE_USDT	+0.0055%	8h	144.70	+0.118%	$7.8M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.79	+0.180%	$122K	$146	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	144.70	+0.121%	$455K	$3.8M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.91	+0.264%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.60	+0.048%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.61	+0.057%	$800K	$436K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.80	+0.187%	$79.6M	$34.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.68	+0.107%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.58	+0.038%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.70	+0.118%	$61.4M	$65.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.65	+0.083%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.27	−0.182%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.70	+0.118%	$9.9M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.64	+0.076%	$30.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.69	+0.111%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.82	+0.201%	$380K	$712K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.42	−0.078%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.59	+0.042%	$103K	$314K	20x	as long as short
ApeX Omni AAVEUSDTshort	+0.0100%	1h	144.77	+0.166%	$135K	$229K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	144.71	+0.125%	$127K	$467K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.63	+0.073%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.73	+0.137%	$693K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.67	+0.097%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.68	+0.107%	$931K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0131%	8h	144.61	+0.055%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	144.74	+0.143%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0272%	1h	144.79	+0.180%	$784K	$3.0M	50x	as long as short