Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.041%

Price spread now: Arcus against Kalshi+0.111%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$500.499% of the position

Long on Kalshi Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.110%+$11 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now +0.111%, 7d avg +0.091%

Together, before fees−0.136%−$14 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 Arcus is 0.020% dearer against Kalshi than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	144.45	0	get 0.0000% / 8h	6h 29m	$71K	$1.6M	3.4x
Short	Arcus AAVE-USD	144.61	0.0100	get 0.0013% / 1h	29m 26s	$50K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.111%Rate

Funding earned: $21
Price spread: +0.111% → +0.091%: $2.01
Slippage, 4 orders: −$35.36
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$26.85
Costs to cover: 0.499%
Break-even: 15.9 days

Slippage from Kalshi: live order book, 4 min ago; Arcus: live order book, 59 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, 4 min ago	7.62 bp	13.1 bp −$13	19.5 bp −$195	doesn't fit	doesn't fit
Sell Arcus live order book, 59 min ago	4.06 bp	8.2 bp −$8	23.2 bp −$232	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
Deribit AAVE_USDC-PERPETUAL	−0.0372%	1h	144.55	+0.069%	$249K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0187%	1h	144.52	+0.048%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.61	+0.111%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.43	−0.014%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.52	+0.051%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	144.45	long leg	$71K	$1.6M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.65	+0.138%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.70	+0.174%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.185%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	144.40	−0.035%	$134K	$229K	50x	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	144.54	+0.064%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.52	+0.048%	$17.5M	$65.8M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0053%	8h	144.53	+0.055%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0054%	8h	144.59	+0.097%	$7.7M	$15.8M	75x	as long as short
Binance AAVEUSDT	+0.0062%	8h	144.55	+0.071%	$65.8M	$183.6M	75x	as long as short
MEXC AAVE_USDT	+0.0063%	8h	144.56	+0.076%	$31.6M	$26.3M	200x	as long as short
Nado AAVE-PERP	+0.0087%	1h	144.65	+0.138%	$803K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.45	+0.002%	$455K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.78	+0.226%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.59	+0.097%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.65	+0.139%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.59	+0.100%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.70	+0.173%	$80.3M	$33.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.63	+0.123%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.61	+0.111%	$329K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.59	+0.097%	$61.5M	$65.4M	75x	as long as short
Arcus AAVE-USDshort	+0.0100%	1h	144.61	+0.111%	$50K	$274K	10x
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.106%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.63	+0.125%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.54	+0.062%	$30.1M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.64	+0.132%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.57	+0.083%	$378K	$701K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.45	−0.001%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.36	−0.060%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.67	+0.152%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.58	+0.091%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.50	+0.033%	$722K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.43	−0.014%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.51	+0.040%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0183%	8h	144.43	−0.014%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.062%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.61	+0.113%	$124K	—	100x	as long as short