Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.041%

Price spread now: Bulk against Kalshi+0.016%7-day average — · you sell dearer than you buy

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

Long on Kalshi Short on Bulk

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	142.86	0	get 0.0000% / 8h	5h 46m	$49K	$1.5M	3.4x
Short	Bulk AAVE-USD	142.88	0.0100	get 0.0013% / 1h	46m 41s	$58K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.016%Rate

Funding earned: $21
Price spread: +0.016% → 0.000%: $1.61
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $5.61
Costs to cover: 0.170%
Break-even: 5.1 days

Slippage unknown: Kalshi: live order book, 2 min ago; Bulk: no order-book sample. 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 Kalshi live order book, 2 min ago	1.75 bp	6.8 bp −$7	15.2 bp −$152	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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	142.55	−0.216%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	142.86	long leg	$49K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.67	−0.133%	$217K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.68	−0.129%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.130%	$422	$51K	12x	as long as short
Nado AAVE-PERP	+0.0039%	1h	142.73	−0.091%	$829K	$400K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.65	−0.145%	—	—	20x	as long as short
ApeX Omni AAVEUSDT	+0.0073%	1h	142.87	+0.007%	$133K	$223K	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0076%	8h	142.66	−0.140%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.30	+0.308%	$4K	$108K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AAVE	+0.0096%	1h	142.68	−0.129%	$4.5M	$2.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.48	−0.267%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.53	−0.233%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.55	−0.219%	$325K	$449K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.50	−0.253%	$64.2M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.49	−0.259%	$61.3M	$68.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.46	−0.280%	$17.0M	$65.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.49	−0.259%	$63K	$198K	10x	as long as short
Bulk AAVE-USDshort	+0.0100%	1h	142.88	+0.016%	$58K	−$0	10x
Gate AAVE_USDT	+0.0100%	8h	142.53	−0.231%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.52	−0.238%	$25.0M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.52	−0.238%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.45	−0.287%	$29.1M	$18.4M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.47	−0.273%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.75	−0.077%	$335K	$723K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.91	+0.036%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.92	+0.040%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.83	−0.019%	$452K	$3.9M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.77	−0.063%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.73	−0.094%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.66	−0.140%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.02	+0.113%	$679K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.68	−0.126%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.40	−0.321%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.68	−0.124%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0128%	1h	142.80	−0.042%	$10K	$2K	5x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.65	−0.147%	$3.3M	$3.6M	100x	as long as short
Hyperliquid AAVE	+0.0228%	1h	142.69	−0.119%	$78.0M	$37.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.67	−0.134%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.44	−0.297%	$195K	$262K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.20	+0.238%	$759K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.76	−0.072%	$3.4M	$2.1M	50x	as long as short