AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.040%

Price spread now: Kalshi against Phemex−0.056%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$610.610% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.056%, 7d avg −0.092%

Together, before fees−0.241%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.036% dearer against Phemex than usual: you sell high and buy low (spread −0.056% now, against its 7-day average of −0.092%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	141.70	0.0100	pay 0.0100% / 8h	57m 57s	$3.9M	$3.6M	50x
Short	Kalshi KXAAVEPERP	141.62	0	get 0.0000% / 8h	4h 57m	$51K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.056%Rate

Funding earned: −$21
Price spread: −0.056% → −0.092%: $3.58
Slippage, 4 orders: −$39
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$78.42
Costs to cover: 0.610%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Kalshi: live order book, just now.

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 Phemex live order book, 6 min ago	2.46 bp	16.8 bp −$17	25.4 bp −$254	doesn't fit	doesn't fit
Sell Kalshi live order book, just now	5.65 bp	17.6 bp −$18	23.3 bp −$233	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
dYdX AAVE-USD	0.0000%	1h	141.66	−0.031%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	141.62	−0.056%	$51K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.68	−0.014%	$214K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.69	−0.005%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.345%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.56	−0.101%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0054%	1h	141.58	−0.085%	$824K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0081%	8h	141.66	−0.028%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.11	+0.289%	$5K	$97K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.83	+0.094%	$4.5M	$2.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	141.60	−0.074%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.81	+0.078%	$77.5M	$36.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.73	+0.019%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.65	−0.037%	$323K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.66	−0.032%	$63.5M	$189.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	141.64	−0.042%	$61.3M	$67.4M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.66	−0.028%	$16.9M	$63.8M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.72	+0.014%	$63K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.77	+0.046%	$160K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.67	−0.021%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.60	−0.071%	$24.1M	$23.8M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.63	−0.049%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.50	−0.141%	$28.9M	$17.9M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.66	−0.028%	—	$43.4M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.84	+0.099%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.88	+0.127%	$107K	$284K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.92	+0.158%	$443K	$3.7M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.95	+0.176%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.69	−0.007%	$140K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.66	−0.025%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.66	−0.028%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.73	+0.023%	$671K	$5.3M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	141.70	long leg	$3.9M	$3.6M	50x
Extended AAVE-USD	+0.0104%	1h	141.60	−0.074%	$901K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.69	−0.004%	$120K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0112%	1h	141.67	−0.021%	$10K	$2K	5x	as long as short
Backpack AAVE_USDC_PERP	+0.0135%	1h	141.79	+0.064%	$389K	$728K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.74	+0.028%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.67	−0.023%	$187K	$276K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.69	−0.010%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	142.29	+0.416%	$755K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0270%	1h	141.75	+0.033%	$3.4M	$2.1M	50x	as long as short