Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0510%/8h= −55.8% APRpaid last 24h −0.270%

Price spread now: Deribit against Kalshi+0.062%7-day average +0.067% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.281%−$28 on $10k

Price spread, last 3 days (all we have)+0.147%+$15 · spread now +0.062%, 7d avg +0.067%

Together, before fees−0.134%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.067%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.281% in total (about -14.7% 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	Kalshi KXAAVEPERP	144.59	0	get 0.0000% / 8h	6h 25m	$71K	$1.5M	3.4x
Short	Deribit AAVE_USDC-PERPETUAL	144.68	−0.0510	pay 0.0064% / 1h	25m 07s	$249K	$483K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$107.1
Price spread: +0.062% → +0.067%: −$0.43
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$124.53
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 3 min ago; Deribit: live order book, 59 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 Kalshi live order book, 3 min ago	0.35 bp	20.0 bp −$20	26.9 bp −$269	doesn't fit	doesn't fit
Sell Deribit live order book, 59 min ago	14.23 bp	17.7 bp −$18	doesn't fit	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-PERPETUALshort	−0.0510%	1h	144.68	+0.062%	$249K	$483K	50x
SoDEX AAVE-USD	−0.0187%	1h	144.65	+0.041%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.71	+0.083%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.80	+0.145%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.85	+0.177%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	144.59	long leg	$71K	$1.5M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.76	+0.120%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.82	+0.157%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.277%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.67	+0.057%	—	—	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni AAVEUSDT	+0.0047%	1h	144.75	+0.111%	$135K	$229K	50x	as long as short
OKX AAVE-USDT-SWAP	+0.0050%	8h	144.70	+0.076%	$17.5M	$66.1M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	144.66	+0.048%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0054%	8h	144.69	+0.069%	$7.7M	$15.8M	75x	as long as short
Binance AAVEUSDT	+0.0059%	8h	144.66	+0.048%	$65.9M	$184.2M	75x	as long as short
MEXC AAVE_USDT	+0.0060%	8h	144.64	+0.035%	$31.5M	$26.3M	200x	as long as short
Nado AAVE-PERP	+0.0086%	1h	144.77	+0.123%	$803K	$436K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0092%	8h	144.76	+0.117%	$456K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.87	+0.194%	$4.7M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.70	+0.077%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.74	+0.104%	$180K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.72	+0.088%	$14K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.82	+0.159%	$80.5M	$33.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.72	+0.091%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.71	+0.080%	$330K	$505K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.71	+0.083%	$61.6M	$65.4M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.70	+0.076%	$50K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.30	−0.203%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.71	+0.083%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.67	+0.055%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.68	+0.062%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.80	+0.145%	$378K	$702K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.87	+0.194%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.67	+0.057%	$101K	$312K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.78	+0.131%	$127K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.64	+0.035%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.81	+0.151%	$721K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.68	+0.062%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.65	+0.042%	$933K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0179%	8h	144.65	+0.041%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.36	−0.159%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.74	+0.107%	$125K	—	100x	as long as short