Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.041%

Price spread now: Polymarket Perps against Kalshi−0.028%7-day average +0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.222%+$22 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now −0.028%, 7d avg +0.125%

Together, before fees+0.567%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.152% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.125%). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	144.16	0	get 0.0000% / 8h	2h 15m	$70K	$1.4M	3.4x
Short	Polymarket Perps AAVE-USD	144.12	0.0100	get 0.0013% / 1h	15m 17s	$124K	$419K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.028%Rate

Funding earned: $21
Price spread: −0.028% → +0.125%: −$15.24
Slippage, 4 orders: −$31.31
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$43.55
Costs to cover: 0.493%
Break-even: 21.5 days

Slippage from Kalshi: live order book, 3 min ago; Polymarket Perps: live order book, 52 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	6.59 bp	11.6 bp −$12	18.4 bp −$184	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 52 min ago	3.08 bp	7.1 bp −$7	7.8 bp −$78	29.3 bp −$2,929	doesn't fit

AAVE on 41 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	−0.2595%	1h	143.72	−0.305%	$244K	$363K	50x	as long as short
01 Exchange AAVEUSD	−0.0040%	1h	144.09	−0.049%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.24	+0.052%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.16	0.000%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	144.16	long leg	$70K	$1.4M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.14	−0.017%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.44	+0.194%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.994%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.07	−0.063%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.10	−0.042%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0070%	8h	144.12	−0.028%	$26.7M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0070%	8h	144.11	−0.033%	$65.0M	$184.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0080%	8h	144.10	−0.042%	$17.3M	$65.2M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.13	−0.019%	$199K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.27	+0.079%	$4.6M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.15	−0.005%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.11	−0.033%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.06	−0.073%	$801K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.23	+0.049%	$78.0M	$35.7M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.14	−0.013%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.11	−0.033%	$328K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.11	−0.035%	$61.6M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.11	−0.035%	$45K	$181K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.13	−0.021%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.14	−0.014%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.08	−0.055%	$30.0M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.11	−0.035%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.19	+0.021%	$321K	$746K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.03	−0.091%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.20	+0.030%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.24	+0.058%	$462K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.24	+0.055%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USDshort	+0.0100%	1h	144.12	−0.028%	$124K	$419K	10x
SunX AAVE-USDT	+0.0100%	8h	144.08	−0.058%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.12	−0.028%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.28	+0.081%	$698K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.13	−0.021%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.09	−0.045%	$58K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.07	−0.063%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0246% / S −0.0382%	1h	144.11	−0.033%	$124K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.76	+0.416%	$778K	$2.8M	50x	as long as short