Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h −0.060%

Price spread now: Kalshi against 01 Exchange−0.123%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Kalshi is 0.123% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.123% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange AAVEUSD	145.92	−0.0128	get 0.0016% / 1h	49m 53s	$11K	$2K	5x
Short	Kalshi KXAAVEPERP	145.74	0	get 0.0000% / 8h	3h 49m	$78K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against 01 Exchange. 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 01 ExchangebpFee KalshibpOrdersPrice spread, now −0.123%Rate

Funding earned: $26.88
Price spread: −0.123% → 0.000%: −$12.34
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$2.46
Costs to cover: 0.170%
Break-even: 7.6 days

Slippage unknown: 01 Exchange: no order-book sample; Kalshi: live order book, 3 min ago. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	5.50 bp	11.2 bp −$11	20.2 bp −$202	doesn't fit	doesn't fit

01 Exchange: 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
ApeX Omni AAVEUSDT	−0.0190%	1h	145.56	−0.247%	$135K	$229K	50x	as long as short
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.71	−0.146%	$3.5M	$2.1M	50x	as long as short
01 Exchange AAVEUSDlong	−0.0128%	1h	145.92	long leg	$11K	$2K	5x
SoDEX AAVE-USD	−0.0080%	1h	145.57	−0.240%	$5K	$305K	10x	as long as short
Gate AAVE_USDT	−0.0026%	8h	145.66	−0.178%	$7.8M	$15.2M	75x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0025%	1h	145.66	−0.178%	$254K	$391K	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.71	−0.141%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	145.74	−0.123%	$78K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	145.67	−0.171%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.81	−0.073%	$71K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0023%	8h	145.65	−0.185%	$29.0M	$25.6M	200x	as long as short
Binance AAVEUSDT	+0.0024%	8h	145.65	−0.185%	$66.0M	$187.5M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.140%	$422	$51K	12x	as long as short
GRVT AAVE_USDT_Perp	+0.0034%	8h	145.61	−0.211%	$456K	$3.9M	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.86	−0.043%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0051%	8h	145.62	−0.206%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0065%	8h	145.69	−0.158%	$17.8M	$67.2M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.68	−0.161%	$123K	$146	10x	as long as short
BloFin AAVE-USDT	+0.0094%	8h	145.60	−0.219%	$3.4M	$4.1M	100x	as long as short
Lighter AAVE	+0.0096%	1h	145.89	−0.020%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.73	−0.130%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.88	−0.024%	$798K	$448K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.81	−0.075%	$79.6M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.74	−0.125%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.77	−0.103%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.68	−0.164%	$62.2M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.92	0.000%	$46K	$278K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.52	−0.271%	$61K	−$0	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.57	−0.240%	$10.0M	$8.8M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.66	−0.178%	$30.2M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.62	−0.206%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.73	−0.130%	$345K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.51	−0.279%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.59	−0.225%	$105K	$317K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.96	+0.027%	$128K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.62	−0.209%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.03	+0.073%	$688K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	145.68	−0.164%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.52	−0.274%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.95	+0.020%	$185K	$246K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0269% / S −0.0449%	1h	145.80	−0.080%	$128K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.78	−0.096%	$781K	$3.1M	50x	as long as short