Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.039%

Price spread now: Aevo against Kalshi+0.127%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1141.144% of the position

Long on Kalshi Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now +0.127%, 7d avg +0.096%

Together, before fees+0.221%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aevo is 0.032% dearer against Kalshi than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	146.17	0	get 0.0000% / 8h	4h 45m	$83K	$1.5M	3.4x
Short	Aevo AAVE-PERP	146.36	0.0088	get 0.0011% / 1h	45m 33s	$124K	$146	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Kalshi. 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 KalshibpFee AevobpOrdersPrice spread, now +0.127%Rate

Funding earned: $18.48
Price spread: +0.127% → +0.096%: $3.17
Slippage, 4 orders: −$88.39
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$92.75
Costs to cover: 1.144%
Break-even: 42.1 days

Slippage from Kalshi: live order book, 3 min ago; Aevo: live order book, 33 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 Kalshi live order book, 3 min ago	4.45 bp	11.4 bp −$11	18.6 bp −$186	doesn't fit	doesn't fit
Sell Aevo live order book, 33 min ago	26.19 bp	39.1 bp −$39	doesn't fit	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
Phoenix AAVE	−0.0027%	1h	146.19	+0.014%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.08	−0.061%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	146.17	long leg	$83K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.34	+0.116%	$256K	$406K	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.41	+0.164%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.35	+0.125%	$71K	—	150x	as long as short
SoDEX AAVE-USD	+0.0024%	1h	146.32	+0.103%	$5K	$298K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.301%	$422	$51K	12x	as long as short
01 Exchange AAVEUSD	+0.0040%	1h	146.08	−0.062%	$11K	$2K	5x	as long as short
MEXC AAVE_USDT	+0.0044%	8h	146.03	−0.096%	$30.7M	$25.7M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	146.04	−0.092%	—	—	20x	as long as short
Binance AAVEUSDT	+0.0045%	8h	146.03	−0.096%	$66.6M	$185.4M	75x	as long as short
Orderly PERP_AAVE_USDC	+0.0050%	8h	146.32	+0.103%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0071%	8h	146.03	−0.096%	$17.8M	$67.5M	50x	as long as short
Gate AAVE_USDT	+0.0079%	8h	146.05	−0.082%	$7.8M	$15.8M	75x	as long as short
Aevo AAVE-PERPshort	+0.0088%	1h	146.36	+0.127%	$124K	$146	10x
Lighter AAVE	+0.0096%	1h	146.26	+0.062%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.02	−0.100%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.00	−0.113%	$808K	$439K	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.11	−0.042%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.06	−0.074%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.04	−0.089%	$62.3M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.05	−0.082%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.49	+0.221%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.15	−0.014%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.01	−0.109%	$30.5M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.05	−0.082%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	146.38	+0.141%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.29	+0.080%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.32	+0.102%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.94	−0.157%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.12	−0.034%	$128K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.32	+0.104%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.62	+0.308%	$702K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.28	+0.075%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.98	−0.131%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.09	−0.057%	$186K	$246K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0154%	1h	146.45	+0.192%	$360K	$737K	10x	as long as short
BloFin AAVE-USDT	+0.0164%	8h	145.94	−0.157%	$3.5M	$4.0M	100x	as long as short
Hyperliquid AAVE	+0.0169%	1h	146.24	+0.048%	$80.7M	$34.5M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.36	+0.131%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.43	+0.178%	$795K	$3.0M	50x	as long as short