Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.036%

Price spread now: Kalshi against ApeX Omni−0.133%78s7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as 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−$620.622% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.133%, 7d avg −0.086%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.046% cheaper against ApeX Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.086%). Swap the legs. The two prices were read 78 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	ApeX Omni AAVEUSDT	143.14	0.0100	pay 0.0013% / 1h	46m 07s	$133K	$222K	50x
Short	Kalshi KXAAVEPERP	142.95	0	get 0.0000% / 8h	6h 46m	$50K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now −0.133%Rate

Funding earned: −$21
Price spread: −0.133% → −0.086%: −$4.63
Slippage, 4 orders: −$42.23
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$87.87
Costs to cover: 0.622%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 65 min ago; Kalshi: live order book, 2 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 ApeX Omni live order book, 65 min ago	5.91 bp	14.7 bp −$15	97.5 bp −$975	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	9.42 bp	18.8 bp −$19	26.9 bp −$269	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
Nado AAVE-PERP	−0.0058%	1h	142.92	−0.154%	$832K	$402K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0030%	1h	142.89	−0.175%	$218K	$393K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	142.91	−0.158%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	142.95	−0.133%	$50K	$1.5M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.95	−0.135%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.317%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.84	−0.208%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0063%	8h	142.87	−0.189%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0073%	8h	142.87	−0.189%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	142.95	−0.133%	$10K	$2K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	142.84	−0.206%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.07	−0.049%	$78.2M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.95	−0.130%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.97	−0.120%	$327K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.93	−0.147%	$63.8M	$189.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.90	−0.168%	$61.2M	$68.2M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.87	−0.189%	$17.1M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.00	−0.098%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.94	−0.141%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.92	−0.154%	$8.0M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.93	−0.147%	$25.7M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.92	−0.154%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.84	−0.210%	$29.2M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.90	−0.168%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.88	−0.182%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	143.13	−0.008%	$105K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.14	0.000%	$449K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDTlong	+0.0100%	1h	143.14	long leg	$133K	$222K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.95	−0.133%	$134K	$453K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.88	−0.182%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.89	−0.175%	$5K	$312K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.19	+0.032%	$684K	$5.2M	75x	as long as short
Backpack AAVE_USDC_PERP	+0.0101%	1h	143.04	−0.070%	$336K	$727K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.83	−0.215%	$908K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.30	+0.111%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	143.34	+0.140%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	142.96	−0.128%	$186K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.97	−0.119%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	142.98	−0.115%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.92	−0.152%	$112K	—	100x	as long as short
Lighter AAVE	+0.0352%	1h	143.12	−0.016%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.04	−0.070%	$791K	$2.8M	50x	as long as short