Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0216%/8h= +23.7% APRpaid last 24h +0.093%

Price spread now: Coinbase International against Kalshi+0.120%7-day average +0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.372%+$37 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.120%, 7d avg +0.157%

Together, before fees+0.313%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.036% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.120% now, against its 7-day average of +0.157%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	141.53	0	get 0.0000% / 8h	3h 56m	$46K	$1.4M	3.4x
Short	Coinbase International AAVE-PERP-INTX	141.70	0.0216	get 0.0027% / 1h	56m 36s	$754K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.120%Rate

Funding earned: $45.36
Price spread: +0.120% → +0.157%: −$3.64
Slippage, 4 orders: −$38.12
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.41
Costs to cover: 0.581%
Break-even: 9.5 days

Slippage from Kalshi: live order book, 2 min ago; Coinbase International: 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 Kalshi live order book, 2 min ago	9.54 bp	16.5 bp −$17	25.5 bp −$255	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.94 bp	13.1 bp −$13	16.6 bp −$166	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
Phemex AAVEUSDT	−0.0198%	8h	141.60	+0.049%	$3.9M	$3.6M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.60	+0.051%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	141.53	long leg	$46K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.66	+0.092%	$214K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.66	+0.089%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.229%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.50	−0.018%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0085%	8h	141.62	+0.064%	$17K	$8K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0098%	8h	141.43	−0.072%	$452K	$3.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.42	−0.081%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AAVE-PERP	+0.0100%	1h	141.41	−0.081%	$827K	$400K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.71	+0.124%	$77.4M	$37.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.49	−0.030%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.55	+0.018%	$330K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.36	−0.120%	$63.5M	$192.6M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.36	−0.120%	$60.9M	$69.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.31	−0.155%	$16.6M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.58	+0.035%	$91K	$221K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.56	+0.024%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.47	−0.042%	$8.1M	$15.8M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.54	+0.007%	$22.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.53	0.000%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.57	+0.028%	$28.8M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.48	−0.035%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.53	−0.003%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.44	−0.066%	$109K	$282K	20x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.41	−0.085%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.62	+0.064%	$134K	$484K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.49	−0.025%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.64	+0.078%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.65	+0.088%	$667K	$5.3M	75x	as long as short
Lighter AAVE	+0.0104%	1h	141.68	+0.107%	$4.5M	$2.5M	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.38	−0.105%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.67	+0.099%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	141.44	−0.064%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0152%	1h	141.70	+0.120%	$4K	$97K	10x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0216%	1h	141.70	+0.120%	$754K	$2.7M	50x
BloFin AAVE-USDT	+0.0220%	8h	141.61	+0.057%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.48	−0.035%	$183K	$294K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0229%	1h	141.81	+0.198%	$386K	$732K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	141.74	+0.145%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.65	+0.082%	$110K	—	100x	as long as short