Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.041%

Price spread now: Kalshi against Pacifica+0.029%7-day average −0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now +0.029%, 7d avg −0.091%

Together, before fees−0.078%+ Points / potential airdropPacifica: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.120% dearer against Pacifica than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.091%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AAVE	143.34	0.0100	pay 0.0013% / 1h	2m 20s	$326K	$505K	10x
Short	Kalshi KXAAVEPERP	143.38	0	get 0.0000% / 8h	6h 02m	$67K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpFee KalshibpOrdersPrice spread, now +0.029%Rate

Funding earned: −$21
Price spread: +0.029% → −0.091%: $11.99
Slippage, 4 orders: −$28.12
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$55.13
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Pacifica: live order book, 21 min ago; Kalshi: live order book, 1 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 Pacifica live order book, 21 min ago	3.46 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	3.49 bp	21.5 bp −$22	30.8 bp −$308	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
Deribit AAVE_USDC-PERPETUAL	−0.0377%	1h	143.53	+0.134%	$252K	$489K	50x	as long as short
SoDEX AAVE-USD	−0.0152%	1h	143.44	+0.071%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0112%	1h	143.27	−0.047%	$10K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	143.24	−0.068%	$5K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.32	−0.012%	$102K	$5K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	143.38	+0.029%	$67K	$1.5M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.57	+0.162%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	143.56	+0.154%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.450%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0044%	8h	143.50	+0.110%	$65.2M	$185.4M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	143.37	+0.021%	—	—	20x	as long as short
MEXC AAVE_USDT	+0.0045%	8h	143.46	+0.085%	$30.7M	$26.5M	200x	as long as short
Orderly PERP_AAVE_USDC	+0.0049%	8h	143.47	+0.092%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0053%	8h	143.50	+0.113%	$17.3M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0058%	1h	143.62	+0.197%	$134K	$229K	50x	as long as short
Gate AAVE_USDT	+0.0063%	8h	143.47	+0.092%	$7.7M	$16.0M	75x	as long as short
Bulk AAVE-USD	+0.0073%	1h	143.97	+0.444%	$60K	$3K	10x	as long as short
GRVT AAVE_USDT_Perp	+0.0091%	8h	143.60	+0.183%	$449K	$3.9M	10x	as long as short
Lighter AAVE	+0.0096%	1h	143.64	+0.213%	$4.6M	$1.7M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	143.51	+0.117%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	143.39	+0.034%	$178K	$247K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.31	−0.016%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	143.31	−0.023%	$793K	$438K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.47	+0.092%	$78.7M	$33.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.35	+0.008%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVElong	+0.0100%	1h	143.34	long leg	$326K	$505K	10x
Bybit AAVEUSDT	+0.0100%	8h	143.50	+0.113%	$60.9M	$65.6M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.34	+0.001%	$50K	$274K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.30	−0.027%	$9.9M	$8.7M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.46	+0.085%	$29.9M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	143.47	+0.092%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.33	−0.006%	$379K	$710K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.38	+0.028%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.50	+0.110%	$101K	$314K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.41	+0.050%	$125K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.30	−0.024%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.62	+0.197%	$714K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	143.52	+0.127%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.43	+0.064%	$919K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0166%	8h	143.17	−0.117%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	143.68	+0.239%	$771K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	143.55	+0.148%	$123K	—	100x	as long as short