Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.007%

Price spread now: Kalshi against 01 Exchange−0.091%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.091% cheaper against 01 Exchange than usual: you would sell low and buy high (−$9 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	01 Exchange AAVEUSD	143.63	0.0088	pay 0.0011% / 1h	30m 57s	$10K	$2K	5x
Short	Kalshi KXAAVEPERP	143.50	0	get 0.0000% / 8h	7h 30m	$52K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against 01 Exchange. 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 01 ExchangebpFee KalshibpOrdersPrice spread, now −0.091%Rate

Funding earned: −$18.48
Price spread: −0.091% → 0.000%: −$9.05
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$44.53
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Kalshi: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	4.88 bp	17.8 bp −$18	25.7 bp −$257	doesn't fit	doesn't fit

01 Exchange: 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 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	143.42	−0.149%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	143.50	−0.091%	$52K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.72	+0.063%	$220K	$397K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.68	+0.033%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0026%	1h	143.56	−0.045%	$839K	$398K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.644%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.52	−0.077%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.62	−0.007%	—	—	20x	as long as short
Phemex AAVEUSDT	+0.0048%	8h	143.68	+0.035%	$4.0M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0056%	8h	143.70	+0.049%	$18K	$10K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSDlong	+0.0088%	1h	143.63	long leg	$10K	$2K	5x
Lighter AAVE	+0.0096%	1h	143.90	+0.187%	$4.6M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.30	−0.230%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.72	+0.062%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.44	−0.134%	$328K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.68	+0.037%	$64.2M	$188.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.65	+0.014%	$61.8M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.61	−0.014%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.68	+0.035%	$64K	$200K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.69	+0.042%	$8.1M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.66	+0.021%	$25.7M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.66	+0.021%	$10.4M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.61	−0.014%	$29.3M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.68	+0.035%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	143.66	+0.021%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.25	−0.264%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.33	−0.209%	$457K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.28	−0.244%	$133K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.72	+0.063%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	143.63	−0.001%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.69	+0.042%	$5K	$309K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.72	+0.063%	$688K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	143.31	−0.223%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.56	−0.047%	$905K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.74	+0.074%	$121K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0111%	1h	143.81	+0.125%	$338K	$720K	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.65	+0.011%	$186K	$252K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.65	+0.014%	$3.3M	$3.6M	100x	as long as short
Hyperliquid AAVE	+0.0235%	1h	143.84	+0.146%	$78.8M	$37.0M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0246%	1h	143.78	+0.107%	$3.5M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.67	+0.030%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.68	+0.035%	$788K	$2.8M	50x	as long as short