AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.32 per $10,000 · paid last 24h +0.040%

Price spread now: Phemex against Kalshi+0.118%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.203%+$20 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.118%, 7d avg +0.096%

Together, before fees+0.252%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.022% dearer against Kalshi than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	143.78	0	get 0.0000% / 8h	7h 52m	$54K	$1.5M	3.4x
Short	Phemex AAVEUSDT	143.95	0.0032	get 0.0032% / 8h	3h 52m	$4.0M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.118%Rate

Funding earned: $6.8
Price spread: +0.118% → +0.096%: $2.19
Slippage, 4 orders: −$30.79
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.81
Costs to cover: 0.528%
Break-even: 52.1 days

Slippage from Kalshi: live order book, 1 min ago; Phemex: live order book, 6 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	5.21 bp	13.0 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	0.70 bp	10.7 bp −$11	18.9 bp −$189	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
dYdX AAVE-USD	0.0000%	1h	143.99	+0.148%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	143.78	long leg	$54K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.08	+0.209%	$220K	$402K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.93	+0.106%	$80K	—	150x	as long as short
Phemex AAVEUSDTshort	+0.0032%	8h	143.95	+0.118%	$4.0M	$3.7M	50x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.743%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.71	−0.049%	$4K	$106K	10x	as long as short
Nado AAVE-PERP	+0.0043%	1h	143.95	+0.122%	$847K	$398K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.92	+0.095%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	144.05	+0.188%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	144.07	+0.205%	$4.6M	$2.1M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.01	+0.163%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.99	+0.144%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.99	+0.150%	$329K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	144.00	+0.153%	$64.4M	$188.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.96	+0.125%	$61.9M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.96	+0.125%	$17.2M	$64.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.11	+0.230%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.81	+0.021%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.00	+0.153%	$8.2M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.98	+0.139%	$25.0M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.03	+0.174%	$10.6M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.89	+0.077%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.96	+0.125%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	−0.278%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.71	−0.050%	$104K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.54	−0.169%	$462K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.75	−0.021%	$134K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.03	+0.174%	$128K	$443K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.01	+0.163%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.08	+0.209%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.20	+0.291%	$693K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.93	+0.101%	$911K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.10	+0.224%	$122K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	144.08	+0.209%	$11K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	144.06	+0.195%	$186K	$250K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0183%	1h	144.17	+0.271%	$338K	$720K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	144.01	+0.160%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	144.16	+0.263%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.93	+0.106%	$113K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	144.18	+0.278%	$791K	$2.8M	50x	as long as short
Hyperliquid AAVE	+0.0413%	1h	144.13	+0.243%	$79.2M	$36.7M	10x	as long as short