AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.33 per $10,000 · paid last 24h −0.040%

Price spread now: Kalshi against Phemex−0.068%59s7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.623% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 3 days (all we have)−0.025%−$3 · spread now −0.068%, 7d avg −0.097%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.028% dearer against Phemex than usual: you sell high and buy low (spread −0.068% now, against its 7-day average of −0.097%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.213% in total) that is about 22 hours. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	146.08	0.0033	pay 0.0033% / 8h	7h 37m	$4.2M	$3.8M	50x
Short	Kalshi KXAAVEPERP	145.98	0	get 0.0000% / 8h	3h 37m	$77K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.068%Rate

Funding earned: −$6.91
Price spread: −0.068% → −0.097%: $2.84
Slippage, 4 orders: −$40.28
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$66.36
Costs to cover: 0.623%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 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 Phemex live order book, 2 min ago	3.09 bp	17.9 bp −$18	24.3 bp −$243	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	7.54 bp	18.3 bp −$18	25.6 bp −$256	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
Kraken Futures PF_AAVEUSD	−0.0184%	1h	146.23	+0.101%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	146.00	−0.055%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0088%	1h	146.09	+0.007%	$5K	$305K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.03	−0.035%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	145.98	−0.068%	$77K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	145.87	−0.144%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.15	+0.048%	$255K	$369K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.10	+0.015%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0022%	8h	146.00	−0.055%	$29.2M	$25.8M	200x	as long as short
Binance AAVEUSDT	+0.0022%	8h	146.06	−0.015%	$66.2M	$186.1M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AAVEUSDTlong	+0.0033%	8h	146.08	long leg	$4.2M	$3.8M	50x
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.243%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0044%	1h	145.86	−0.151%	$136K	$230K	50x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.01	−0.049%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0048%	8h	146.06	−0.014%	$18K	$10K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	146.06	−0.014%	$17.9M	$67.0M	50x	as long as short
GRVT AAVE_USDT_Perp	+0.0069%	8h	145.92	−0.110%	$462K	$3.9M	10x	as long as short
Gate AAVE_USDT	+0.0078%	8h	146.04	−0.027%	$7.9M	$15.2M	75x	as long as short
Bybit AAVEUSDT	+0.0079%	8h	146.04	−0.027%	$62.5M	$65.4M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.12	+0.024%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0088%	8h	146.01	−0.048%	$3.5M	$4.1M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.31	+0.156%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.03	−0.034%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.92	−0.110%	$798K	$445K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.12	+0.027%	$79.7M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.99	−0.062%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.97	−0.074%	$333K	$503K	10x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.01	−0.048%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.72	−0.246%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.98	−0.068%	$10.1M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.05	−0.021%	$30.3M	$18.1M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.04	−0.027%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.02	−0.041%	$346K	$733K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.08	+0.002%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.87	−0.142%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.10	+0.014%	$128K	$428K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.98	−0.066%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.22	+0.097%	$710K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.07	−0.007%	$932K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.05	−0.024%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	146.12	+0.027%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.14	+0.041%	$786K	$3.1M	50x	as long as short