Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h —

Price spread now: Kalshi against Reya−0.038%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kalshi is 0.038% cheaper against Reya than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	144.40	0.0044	pay 0.0006% / 1h	3m 30s	—	—	20x
Short	Kalshi KXAAVEPERP	144.34	0	get 0.0000% / 8h	2h 03m	$71K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Reya. 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 ReyabpFee KalshibpOrdersPrice spread, now −0.038%Rate

Funding earned: −$9.27
Price spread: −0.038% → 0.000%: −$3.84
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$29.11
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Kalshi: live order book, 5 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	6.61 bp	14.8 bp −$15	21.5 bp −$215	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE on 41 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	−0.0034%	1h	144.46	+0.046%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0032%	1h	144.46	+0.045%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.45	+0.039%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	144.34	−0.038%	$71K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	144.35	−0.031%	$245K	$370K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.43	+0.024%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	143.77	−0.433%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.149%	$422	$51K	12x	as long as short
Reya AAVERUSDPERPlong	+0.0044%	1h	144.40	long leg	—	—	20x
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.38	−0.011%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0085%	8h	144.44	+0.031%	$26.6M	$25.0M	200x	as long as short
Binance AAVEUSDT	+0.0087%	8h	144.46	+0.045%	$65.1M	$182.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0088%	8h	144.41	+0.010%	$17.3M	$64.1M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.52	+0.085%	$200K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.59	+0.135%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.41	+0.011%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.41	+0.007%	$803K	$415K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.56	+0.114%	$78.2M	$35.2M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.46	+0.041%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.43	+0.024%	$329K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.45	+0.038%	$61.8M	$64.2M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.49	+0.065%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.44	+0.031%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.42	+0.017%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.41	+0.010%	$30.0M	$17.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.42	+0.017%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.50	+0.072%	$323K	$719K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.02	−0.260%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.83	−0.393%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.07	−0.225%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.85	−0.378%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.46	+0.045%	$126K	$421K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.42	+0.020%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.35	−0.031%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.94	+0.376%	$702K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.41	+0.010%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.07	−0.229%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.38	−0.014%	$917K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	144.36	−0.022%	$122K	$146	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0397%	1h	144.41	+0.009%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.45	+0.038%	$776K	$2.8M	50x	as long as short