Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0296%/8h= −32.4% APRpaid last 24h −0.093%

Price spread now: Kalshi against Coinbase International+0.373%7-day average −0.154% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.371%−$37 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now +0.373%, 7d avg −0.154%

Together, before fees−0.797%−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.527% dearer against Coinbase International than usual: you sell high and buy low (spread +0.373% now, against its 7-day average of −0.154%): +$53 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AAVE-PERP-INTX	142.23	0.0296	pay 0.0037% / 1h	24m 41s	$754K	$2.8M	50x
Short	Kalshi KXAAVEPERP	142.76	0	get 0.0000% / 8h	5h 24m	$50K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now +0.373%Rate

Funding earned: −$62.16
Price spread: +0.373% → −0.154%: $52.67
Slippage, 4 orders: −$36.58
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$66.07
Costs to cover: 0.566%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Kalshi: live order book, 4 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 Coinbase International live order book, 4 min ago	5.63 bp	12.6 bp −$13	16.7 bp −$167	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	2.11 bp	13.4 bp −$13	21.0 bp −$210	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
dYdX AAVE-USD	0.0000%	1h	142.67	+0.313%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	142.76	+0.373%	$50K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.74	+0.359%	$216K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.81	+0.406%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.705%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.76	+0.371%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0049%	1h	142.74	+0.359%	$829K	$393K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	142.71	+0.337%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.30	+0.049%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.80	+0.401%	$4.5M	$2.5M	10x	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	142.63	+0.281%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.69	+0.321%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.68	+0.315%	$326K	$385K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.65	+0.295%	$64.2M	$189.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.63	+0.281%	$61.5M	$67.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.65	+0.295%	$17.0M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.75	+0.366%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.109%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.64	+0.288%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.66	+0.302%	$24.6M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.67	+0.309%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.58	+0.246%	$29.2M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.64	+0.288%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.76	+0.373%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.26	+0.019%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.35	+0.085%	$448K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.36	+0.091%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.86	+0.443%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.70	+0.330%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.71	+0.337%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.84	+0.432%	$676K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.72	+0.345%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.60	+0.261%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.75	+0.366%	$121K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0120%	1h	142.80	+0.401%	$396K	$728K	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.71	+0.337%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0188%	1h	142.83	+0.422%	$78.1M	$36.9M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.73	+0.352%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.38	+0.105%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.72	+0.345%	$192K	$274K	10x	as long as short
Coinbase International AAVE-PERP-INTXlong	+0.0296%	1h	142.23	long leg	$754K	$2.8M	50x
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.79	+0.394%	$3.4M	$2.1M	50x	as long as short