Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.041%

Price spread now: Kalshi against Polymarket Perps−0.116%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Polymarket Perps Short on Kalshi

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.116%, 7d avg −0.126%

Together, before fees−0.188%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.126%, 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	Polymarket Perps AAVE-USD	146.04	0.0100	pay 0.0013% / 1h	48m 26s	$128K	$449K	10x
Short	Kalshi KXAAVEPERP	145.87	0	get 0.0000% / 8h	3h 48m	$79K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Polymarket Perps. 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 Polymarket PerpsbpFee KalshibpOrdersPrice spread, now −0.116%Rate

Funding earned: −$21
Price spread: −0.116% → −0.126%: $0.91
Slippage, 4 orders: −$29.47
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$67.56
Costs to cover: 0.475%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 24 min ago; Kalshi: live order book, 5 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 Polymarket Perps live order book, 24 min ago	1.37 bp	6.7 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	5.50 bp	11.2 bp −$11	20.2 bp −$202	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
Kraken Futures PF_AAVEUSD	−0.0185%	1h	146.02	−0.013%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSD	−0.0120%	1h	145.99	−0.034%	$11K	$2K	5x	as long as short
ApeX Omni AAVEUSDT	−0.0082%	1h	145.42	−0.425%	$135K	$229K	50x	as long as short
SoDEX AAVE-USD	−0.0046%	1h	145.93	−0.075%	$5K	$305K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.21	+0.119%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	145.87	−0.116%	$79K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	145.67	−0.253%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	146.05	+0.007%	$255K	$391K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.08	+0.029%	$71K	—	150x	as long as short
MEXC AAVE_USDT	+0.0023%	8h	146.00	−0.027%	$29.0M	$25.6M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0024%	8h	146.01	−0.021%	$66.2M	$187.6M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.217%	$422	$51K	12x	as long as short
GRVT AAVE_USDT_Perp	+0.0034%	8h	145.61	−0.293%	$456K	$3.9M	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.96	−0.056%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	146.02	−0.014%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	146.01	−0.021%	$17.9M	$67.4M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.04	0.000%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0093%	8h	145.90	−0.096%	$3.5M	$4.1M	100x	as long as short
Lighter AAVE	+0.0096%	1h	146.36	+0.222%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.12	+0.052%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.95	−0.058%	$798K	$448K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.13	+0.062%	$79.7M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.01	−0.023%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.18	+0.097%	$334K	$503K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.02	−0.014%	$62.3M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.99	−0.034%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.05	+0.007%	$61K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	146.05	+0.007%	$7.9M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.02	−0.014%	$10.0M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.96	−0.055%	$30.3M	$18.2M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	146.01	−0.021%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.13	+0.062%	$346K	$743K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.51	−0.361%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.59	−0.307%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USDlong	+0.0100%	1h	146.04	long leg	$128K	$449K	10x
SunX AAVE-USDT	+0.0100%	8h	145.94	−0.066%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.30	+0.177%	$698K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.98	−0.041%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.97	−0.051%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	146.02	−0.015%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	146.07	+0.018%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	146.15	+0.075%	$784K	$3.1M	50x	as long as short