Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.044%

Price spread now: RISEx against Kalshi+0.010%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.089%+$9 on $10k

Price spread, last 4 days (all we have)−0.313%−$31 · spread now +0.010%, 7d avg +0.062%

Together, before fees−0.225%−$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.052% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.062%). If the spread goes back, that is −$5 on $10k: about 19 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.089% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	140.68	0	get 0.0000% / 8h	3h 31m	$56K	$1.5M	3.4x
Short	RISEx AAVE/USDC	140.69	0.0223	get 0.0028% / 1h	31m 07s	$171K	$300K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.010%Rate

Funding earned: $46.88
Price spread: +0.010% → +0.062%: −$5.23
Slippage, 4 orders: −$23.58
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $2.07
Costs to cover: 0.396%
Break-even: 6.7 days

Slippage from Kalshi: live order book, 2 min ago; RISEx: 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	8.88 bp	15.2 bp −$15	24.1 bp −$241	doesn't fit	doesn't fit
Sell RISEx live order book, 2 min ago	1.24 bp	4.2 bp −$4	10.1 bp −$101	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	140.56	−0.082%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	140.68	long leg	$56K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.66	−0.014%	$212K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.67	−0.004%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.644%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.61	−0.048%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0089%	8h	140.64	−0.028%	$17K	$8K	10x	as long as short
01 Exchange AAVEUSD	+0.0096%	1h	140.69	+0.007%	$10K	$2K	5x	as long as short
Phoenix AAVE	+0.0096%	1h	140.68	0.000%	$4K	$99K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.57	−0.076%	$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	140.65	−0.021%	$835K	$408K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.78	+0.071%	$76.8M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.69	+0.006%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.61	−0.053%	$327K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.64	−0.026%	$63.2M	$192.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.62	−0.043%	$60.7M	$69.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.63	−0.036%	$16.5M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	140.77	+0.064%	$94K	$228K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.17	+0.346%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.67	−0.007%	$8.1M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.64	−0.028%	$22.5M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.67	−0.007%	$10.1M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.64	−0.028%	$28.6M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.64	−0.028%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.05	+0.264%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.75	+0.050%	$108K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	+0.341%	$451K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.78	+0.071%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.72	+0.028%	$133K	$474K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.63	−0.038%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	140.62	−0.043%	$5K	$299K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	140.77	+0.063%	$662K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	140.66	−0.014%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.59	−0.062%	$906K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.68	+0.003%	$119K	$146	10x	as long as short
Lighter AAVE	+0.0160%	1h	140.84	+0.117%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0168%	1h	140.78	+0.071%	$386K	$737K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	140.75	+0.050%	$749K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.62	−0.043%	$3.2M	$3.5M	100x	as long as short
RISEx AAVE/USDCshort	+0.0223%	1h	140.69	+0.010%	$171K	$300K	10x
Kraken Futures PF_AAVEUSD	+0.0250%	1h	140.69	+0.010%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	140.67	−0.007%	$110K	—	100x	as long as short