Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.009%

Price spread now: SoDEX against Kalshi−0.028%7-day average +0.063% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.425%+$42 · spread now −0.028%, 7d avg +0.063%

Together, before fees+0.452%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.091% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.063%). If the spread goes back, that is −$9 on $10k: about 3.4 days of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.027% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	142.87	0	get 0.0000% / 8h	2h 59m	$51K	$1.4M	3.4x
Short	SoDEX AAVE-USD	142.83	0.0089	get 0.0011% / 1h	59m 33s	$6K	$285K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $18.73
Price spread: −0.028% → +0.063%: −$9.14
Slippage, 4 orders: −$22.99
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$31.39
Costs to cover: 0.410%
Break-even: 18.7 days

Slippage from Kalshi: live order book, 4 min ago; SoDEX: live order book, 34 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, 4 min ago	6.99 bp	12.0 bp −$12	19.7 bp −$197	doesn't fit	doesn't fit
Sell SoDEX live order book, 34 min ago	0.35 bp	5.0 bp −$5	10.1 bp −$101	96.9 bp −$9,692	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
Phemex AAVEUSDT	−0.0100%	8h	142.80	−0.049%	$4.0M	$3.6M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0030%	1h	142.86	−0.007%	$211K	$360K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.75	−0.082%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	142.87	long leg	$51K	$1.4M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.88	+0.007%	$82K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.137%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.52	−0.246%	—	—	20x	as long as short
SoDEX AAVE-USDshort	+0.0089%	1h	142.83	−0.028%	$6K	$285K	10x
Orderly PERP_AAVE_USDC	+0.0093%	8h	142.83	−0.028%	$17K	$6K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.84	−0.019%	$4.6M	$2.2M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0096%	1h	142.93	+0.042%	$4K	$96K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.60	−0.192%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	142.64	−0.157%	$825K	$385K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.75	−0.084%	$78.1M	$36.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.76	−0.075%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.71	−0.112%	$348K	$364K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.67	−0.141%	$64.0M	$186.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.64	−0.161%	$61.4M	$67.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.55	−0.224%	$16.6M	$62.9M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.79	−0.056%	$98K	$228K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.71	−0.114%	$165K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.70	−0.119%	$8.1M	$13.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.74	−0.091%	$22.6M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.74	−0.091%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.57	−0.210%	$29.0M	$17.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.69	−0.126%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.82	−0.036%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.90	+0.024%	$110K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.98	+0.077%	$449K	$3.4M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.01	+0.098%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.71	−0.112%	$133K	$466K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.83	−0.027%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.94	+0.050%	$670K	$5.3M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.60	−0.186%	$916K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.87	0.000%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	142.72	−0.105%	$10K	$2K	5x	as long as short
RISEx AAVE/USDC	+0.0164%	1h	142.58	−0.203%	$173K	$275K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	143.20	+0.231%	$761K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.87	0.000%	$3.2M	$3.5M	100x	as long as short
Backpack AAVE_USDC_PERP	+0.0224%	1h	142.98	+0.077%	$389K	$731K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	142.94	+0.048%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	142.91	+0.027%	$111K	—	100x	as long as short