Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: dYdX against Kalshi−0.049%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$317as in the Funding arb table

Net, price: spread back to 7d avg − costs−$331as in the Price arb table

costs, in and out, $10k−$3183.184% of the position

Long on Kalshi Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.049%, 7d avg +0.076%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.125% cheaper against Kalshi than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	142.21	0	get 0.0000% / 8h	5h 32m	$51K	$1.5M	3.4x
Short	dYdX AAVE-USD	142.14	0	get 0.0000% / 1h	32m 20s	$102K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → +0.076%: −$12.5
Slippage, 4 orders: −$298.4
Fee Kalshi: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$330.9
Costs to cover: 3.184%
Break-even: never at this rate

Slippage from Kalshi: live order book, 1 min ago; dYdX: live order book, 11 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	5.98 bp	11.0 bp −$11	19.5 bp −$195	doesn't fit	doesn't fit
Sell dYdX live order book, 11 min ago	69.69 bp	212.1 bp −$212	213.2 bp −$2,132	213.4 bp −$21.3K	233.7 bp −$116.9K

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
dYdX AAVE-USDshort	0.0000%	1h	142.14	−0.049%	$102K	$4K	10x
Kalshi KXAAVEPERPlong	0.0000%	8h	142.21	long leg	$51K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.19	−0.014%	$216K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.02	−0.135%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.692%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.95	−0.181%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0063%	1h	142.12	−0.063%	$822K	$400K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	141.98	−0.162%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.10	−0.077%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.29	+0.058%	$4.5M	$2.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.00	−0.151%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.09	−0.082%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.15	−0.043%	$324K	$450K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.01	−0.141%	$63.9M	$191.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.01	−0.141%	$61.1M	$68.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.00	−0.148%	$16.9M	$65.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.17	−0.028%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.095%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.06	−0.105%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.04	−0.120%	$24.6M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.08	−0.091%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.97	−0.169%	$29.0M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.02	−0.134%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.28	+0.049%	$374K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.03	−0.126%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.20	−0.010%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.27	+0.044%	$447K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.28	+0.049%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.12	−0.063%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.18	−0.023%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.17	−0.028%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.32	+0.075%	$674K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.23	+0.014%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.01	−0.140%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.02	−0.132%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.14	−0.049%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0160%	1h	142.16	−0.035%	$77.8M	$37.1M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.22	+0.007%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.03	−0.130%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.07	−0.099%	$192K	$264K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.00	−0.148%	$753K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0317%	1h	142.29	+0.055%	$3.4M	$2.1M	50x	as long as short