Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.042%

Price spread now: Extended against Kalshi+0.053%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 3 days (all we have)−0.209%−$21 · spread now +0.053%, 7d avg +0.017%

Together, before fees+0.003%+ Points / potential airdropExtended: Active · farm board$0 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 Extended is 0.036% dearer against Kalshi than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	145.78	0	get 0.0000% / 8h	4h 01m	$78K	$1.5M	3.4x
Short	Extended AAVE-USD	145.86	0.0104	get 0.0013% / 1h	1m 27s	$934K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.053%Rate

Funding earned: $21.84
Price spread: +0.053% → +0.017%: $3.57
Slippage, 4 orders: −$29.31
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$18.89
Costs to cover: 0.443%
Break-even: 13.1 days

Slippage from Kalshi: live order book, 2 min ago; Extended: 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	5.49 bp	13.9 bp −$14	20.4 bp −$204	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.37 bp	5.6 bp −$6	18.4 bp −$184	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
SoDEX AAVE-USD	−0.0127%	1h	145.77	−0.007%	$5K	$305K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.79	+0.007%	$255K	$391K	50x	as long as short
01 Exchange AAVEUSD	−0.0056%	1h	145.91	+0.089%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0027%	1h	145.80	+0.014%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.96	+0.125%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	145.78	long leg	$78K	$1.5M	3.4x
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.90	+0.083%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.83	+0.035%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.91	+0.089%	$29.7M	$26.1M	200x	as long as short
Binance AAVEUSDT	+0.0028%	8h	145.89	+0.075%	$66.2M	$187.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.050%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.90	+0.082%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	145.74	−0.027%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0067%	8h	145.91	+0.089%	$17.9M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0074%	8h	145.90	+0.082%	$7.9M	$16.0M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.79	+0.005%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.08	+0.203%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.89	+0.077%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.89	+0.075%	$801K	$446K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.04	+0.178%	$80.2M	$35.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.94	+0.107%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.92	+0.098%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.92	+0.096%	$62.3M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.91	+0.089%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.59	−0.132%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.90	+0.082%	$10.0M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.84	+0.041%	$30.3M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	145.89	+0.075%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.99	+0.144%	$349K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.20	−0.401%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.72	−0.038%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.40	−0.259%	$454K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.82	+0.027%	$136K	$230K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.98	+0.137%	$128K	$455K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.76	−0.010%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.04	+0.178%	$691K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.77	−0.007%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USDshort	+0.0104%	1h	145.86	+0.053%	$934K	$1.7M	50x
RISEx AAVE/USDC	+0.0106%	1h	145.96	+0.120%	$185K	$247K	10x	as long as short
BloFin AAVE-USDT	+0.0114%	8h	145.86	+0.055%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.81	+0.023%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	145.81	+0.021%	$794K	$3.0M	50x	as long as short