Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h —

Price spread now: Reya against Kalshi−0.168%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.168% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.168% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 13 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	141.56	0	get 0.0000% / 8h	35m 40s	$43K	$1.5M	3.4x
Short	Reya AAVERUSDPERP	141.32	0.0044	get 0.0006% / 1h	35m 40s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.168%Rate

Funding earned: $9.27
Price spread: −0.168% → 0.000%: −$16.81
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$23.54
Costs to cover: 0.160%
Break-even: 24.8 days

Slippage unknown: Kalshi: live order book, 3 min ago; Reya: 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, 3 min ago	6.00 bp	13.6 bp −$14	22.9 bp −$229	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Deribit AAVE_USDC-PERPETUAL	−0.4274%	1h	140.84	−0.509%	$218K	$399K	50x	as long as short
01 Exchange AAVEUSD	−0.0168%	1h	141.35	−0.148%	$10K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.66	+0.068%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	141.56	long leg	$43K	$1.5M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.44	−0.082%	$79K	—	150x	as long as short
SoDEX AAVE-USD	+0.0018%	1h	141.44	−0.085%	$5K	$299K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.250%	$422	$51K	12x	as long as short
Nado AAVE-PERP	+0.0037%	1h	141.37	−0.138%	$837K	$445K	10x	as long as short
Reya AAVERUSDPERPshort	+0.0044%	1h	141.32	−0.168%	—	—	20x
Orderly PERP_AAVE_USDC	+0.0046%	8h	141.41	−0.106%	$18K	$10K	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	+0.346%	$4K	$102K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.61	+0.032%	$4.5M	$2.0M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.60	+0.031%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.60	+0.028%	$76.3M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.54	−0.017%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.63	+0.051%	$324K	$448K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.70	+0.096%	$63.4M	$186.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.61	+0.035%	$60.3M	$66.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.62	+0.042%	$17.0M	$63.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.69	+0.092%	$63K	$204K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.12	+0.396%	$57K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.54	−0.014%	$8.0M	$15.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.64	+0.057%	$24.9M	$23.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.68	+0.085%	$10.5M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.58	+0.014%	$28.8M	$18.3M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.64	+0.057%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.59	+0.021%	$335K	$716K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.38	−0.127%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.75	+0.135%	$102K	$278K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.91	+0.244%	$445K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.75	+0.134%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.40	−0.113%	$121K	$384K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.33	−0.162%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.50	−0.039%	$681K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.42	−0.099%	$4.0M	$3.7M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.57	+0.007%	$892K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.46	−0.067%	$119K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0136%	1h	141.64	+0.053%	$176K	$241K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.69	+0.092%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.43	−0.091%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0327%	1h	141.56	−0.002%	$3.4M	$2.1M	50x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0336%	1h	142.18	+0.438%	$788K	$2.9M	50x	as long as short