Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.036%

Price spread now: Kalshi against Nado−0.019%7-day average −0.050% · 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−$42as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Nado Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.019%, 7d avg −0.050%

Together, before fees−0.239%+ Points / potential airdropNado: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.030% dearer against Nado than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.050%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AAVE-PERP	141.60	0.0100	pay 0.0012% / 1h	49m 01s	$828K	$400K	10x
Short	Kalshi KXAAVEPERP	141.57	0	get 0.0000% / 8h	3h 49m	$46K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Nado. 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 NadobpFee KalshibpOrdersPrice spread, now −0.019%Rate

Funding earned: −$21
Price spread: −0.019% → −0.050%: $3.01
Slippage, 4 orders: −$28.3
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$63.29
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from Nado: live order book, 49 min ago; Kalshi: live order book, 4 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 Nado live order book, 49 min ago	1.06 bp	7.8 bp −$8	16.4 bp −$164	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	9.56 bp	16.0 bp −$16	24.5 bp −$245	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	141.60	+0.002%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	141.57	−0.019%	$46K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.65	+0.037%	$214K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.65	+0.035%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.275%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.59	−0.003%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.61	+0.009%	$17K	$8K	10x	as long as short
Phoenix AAVE	+0.0096%	1h	141.55	−0.034%	$4K	$99K	10x	as long as short
Phemex AAVEUSDT	+0.0096%	8h	141.57	−0.019%	$3.9M	$3.6M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.59	−0.006%	$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-PERPlong	+0.0100%	1h	141.60	long leg	$828K	$400K	10x
Hyperliquid AAVE	+0.0100%	1h	141.76	+0.115%	$77.4M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.65	+0.037%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.61	+0.012%	$330K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.62	+0.015%	$63.6M	$192.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.55	−0.034%	$61.0M	$69.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.54	−0.041%	$16.6M	$65.0M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.75	+0.108%	$94K	$224K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.56	−0.023%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.64	+0.030%	$8.1M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.63	+0.023%	$22.9M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.64	+0.030%	$10.3M	$9.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.61	+0.009%	$28.8M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.61	+0.009%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.52	−0.054%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.24	−0.249%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.30	−0.213%	$452K	$3.5M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.25	−0.245%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.68	+0.058%	$134K	$484K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.64	+0.033%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.62	+0.016%	$5K	$298K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.72	+0.087%	$667K	$5.3M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.58	−0.013%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.65	+0.039%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	141.69	+0.065%	$10K	$2K	5x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0216%	1h	141.46	−0.097%	$753K	$2.7M	50x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.56	−0.026%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0223%	1h	141.70	+0.070%	$178K	$296K	10x	as long as short
Lighter AAVE	+0.0232%	1h	141.82	+0.158%	$4.5M	$2.5M	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0240%	1h	141.77	+0.122%	$385K	$732K	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	141.68	+0.056%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	141.65	+0.035%	$110K	—	100x	as long as short