Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Kalshi against dYdX+0.035%7-day average −0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$369as in the Funding arb table

Net, price: spread back to 7d avg − costs−$354as in the Price arb table

costs, in and out, $10k−$3663.663% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 3 days (all we have)+0.094%+$9 · spread now +0.035%, 7d avg −0.090%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.125% dearer against dYdX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	145.90	0	get 0.0000% / 1h	40m 14s	$104K	$5K	10x
Short	Kalshi KXAAVEPERP	145.95	0	get 0.0000% / 8h	4h 40m	$84K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.090%: $12.51
Slippage, 4 orders: −$346.28
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$353.77
Costs to cover: 3.663%
Break-even: never at this rate

Slippage from dYdX: live order book, 39 min ago; Kalshi: live order book, 3 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 dYdX live order book, 39 min ago	158.47 bp	165.3 bp −$165	165.5 bp −$1,655	165.5 bp −$16.6K	265.7 bp −$132.9K
Sell Kalshi live order book, 3 min ago	5.14 bp	19.3 bp −$19	28.8 bp −$288	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
Deribit AAVE_USDC-PERPETUAL	−0.0093%	1h	145.80	−0.068%	$255K	$406K	50x	as long as short
SoDEX AAVE-USD	−0.0051%	1h	145.77	−0.088%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.19	+0.199%	$5K	$99K	10x	as long as short
dYdX AAVE-USDlong	0.0000%	1h	145.90	long leg	$104K	$5K	10x
Kalshi KXAAVEPERPshort	0.0000%	8h	145.95	+0.035%	$84K	$1.5M	3.4x
Kraken Futures PF_AAVEUSD	+0.0002%	1h	145.88	−0.014%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.84	−0.040%	$71K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	145.83	−0.047%	$11K	$2K	5x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.127%	$422	$51K	12x	as long as short
Binance AAVEUSDT	+0.0042%	8h	145.77	−0.088%	$66.4M	$185.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0043%	8h	145.77	−0.088%	$30.6M	$25.7M	200x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.74	−0.107%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.76	−0.095%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0070%	8h	145.77	−0.088%	$17.8M	$67.4M	50x	as long as short
Gate AAVE_USDT	+0.0076%	8h	145.76	−0.095%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.82	−0.054%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.00	+0.066%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.74	−0.109%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.78	−0.082%	$802K	$441K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.87	−0.023%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.79	−0.074%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.77	−0.088%	$62.2M	$66.1M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.81	−0.061%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.88	−0.013%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.78	−0.082%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.73	−0.116%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.76	−0.095%	—	$44.0M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	145.91	+0.005%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.06	+0.113%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.02	+0.083%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	146.08	+0.124%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.84	−0.040%	$127K	$457K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.77	−0.086%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.91	+0.007%	$698K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.80	−0.068%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.74	−0.106%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	145.84	−0.039%	$186K	$246K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0107%	1h	146.07	+0.117%	$359K	$737K	10x	as long as short
Hyperliquid AAVE	+0.0114%	1h	145.96	+0.042%	$80.5M	$34.6M	10x	as long as short
BloFin AAVE-USDT	+0.0164%	8h	145.86	−0.027%	$3.5M	$4.0M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	145.84	−0.040%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.23	+0.227%	$789K	$3.0M	50x	as long as short