Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.247%

Price spread now: Deribit against Kalshi−0.091%7-day average +0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Kalshi Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)+0.301%+$30 · spread now −0.091%, 7d avg +0.066%

Together, before fees+0.035%+$4 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: Deribit is 0.157% cheaper against Kalshi than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	142.13	0	get 0.0000% / 8h	39m 25s	$47K	$1.5M	3.4x
Short	Deribit AAVE_USDC-PERPETUAL	142.00	0	get 0.0000% / 1h	39m 25s	$220K	$399K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0
Price spread: −0.091% → +0.066%: −$15.7
Slippage, 4 orders: −$35.83
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$68.53
Costs to cover: 0.528%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; Deribit: live order book, 14 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, 4 min ago	7.75 bp	12.7 bp −$13	18.3 bp −$183	doesn't fit	doesn't fit
Sell Deribit live order book, 14 min ago	5.26 bp	9.1 bp −$9	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
01 Exchange AAVEUSD	−0.0168%	1h	141.65	−0.338%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.82	−0.215%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	142.13	long leg	$47K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUALshort	0.0000%	1h	142.00	−0.091%	$220K	$399K	50x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.71	−0.293%	$79K	—	150x	as long as short
SoDEX AAVE-USD	+0.0025%	1h	141.90	−0.162%	$5K	$299K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.638%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.66	−0.330%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.59	−0.380%	$18K	$10K	10x	as long as short
Nado AAVE-PERP	+0.0050%	1h	141.72	−0.288%	$839K	$447K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AAVE	+0.0056%	1h	142.05	−0.056%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.95	−0.127%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.76	−0.259%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.79	−0.239%	$76.5M	$35.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.77	−0.251%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.90	−0.163%	$325K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.66	−0.331%	$63.4M	$185.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.66	−0.331%	$60.6M	$66.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.57	−0.394%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.83	−0.211%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	−0.007%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.70	−0.303%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.68	−0.317%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.70	−0.303%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.59	−0.380%	$28.8M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.66	−0.331%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.99	−0.099%	$336K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.94	−0.135%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.18	+0.037%	$102K	$277K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.91	−0.158%	$445K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.90	−0.162%	$132K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.72	−0.288%	$122K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.93	−0.141%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.10	−0.024%	$684K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.96	−0.120%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.62	−0.356%	$892K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.02	−0.077%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.73	−0.280%	$176K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.01	−0.084%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.71	−0.298%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0326%	1h	142.04	−0.060%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.18	+0.035%	$788K	$2.9M	50x	as long as short