Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.040%

Price spread now: Kalshi against Aevo+0.078%7-day average −0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$22 on $10k

Price spread, last 4 days (all we have)−0.203%−$20 · spread now +0.078%, 7d avg −0.091%

Together, before fees−0.418%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.169% dearer against Aevo than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of −0.091%): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AAVE-PERP	142.87	0.0104	pay 0.0013% / 1h	48m 53s	$121K	$146	10x
Short	Kalshi KXAAVEPERP	142.98	0	get 0.0000% / 8h	5h 48m	$50K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.078%Rate

Funding earned: −$21.84
Price spread: +0.078% → −0.091%: $16.89
Slippage, 4 orders: −$78.56
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$109.51
Costs to cover: 1.046%
Break-even: never at this rate

Slippage from Aevo: live order book, 60 min ago; Kalshi: live order book, 4 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 Aevo live order book, 60 min ago	21.97 bp	32.9 bp −$33	197.3 bp −$1,973	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	5.24 bp	22.5 bp −$22	30.9 bp −$309	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	142.96	+0.062%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	142.98	+0.078%	$50K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.82	−0.034%	$217K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.94	+0.048%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.135%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.84	−0.018%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0053%	1h	142.81	−0.041%	$830K	$400K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0076%	8h	142.85	−0.013%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.30	+0.302%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.96	+0.064%	$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	142.94	+0.052%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.82	−0.036%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.98	+0.078%	$326K	$449K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.76	−0.076%	$64.3M	$192.1M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.74	−0.090%	$61.4M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.73	−0.097%	$17.0M	$65.5M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.99	+0.085%	$64K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.011%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.78	−0.062%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.76	−0.076%	$25.1M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.76	−0.076%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.74	−0.090%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.74	−0.090%	—	$43.7M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.95	+0.057%	$336K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.91	+0.030%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.98	+0.079%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.83	−0.024%	$452K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.95	+0.057%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.95	+0.057%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.88	+0.005%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.83	−0.027%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.19	+0.223%	$680K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.90	+0.022%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.69	−0.125%	$911K	$1.7M	50x	as long as short
Aevo AAVE-PERPlong	+0.0104%	1h	142.87	long leg	$121K	$146	10x
01 Exchange AAVEUSD	+0.0128%	1h	142.99	+0.085%	$10K	$2K	5x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.88	+0.008%	$3.3M	$3.6M	100x	as long as short
Hyperliquid AAVE	+0.0229%	1h	142.91	+0.029%	$78.1M	$37.2M	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.90	+0.025%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.98	+0.077%	$196K	$262K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	143.20	+0.232%	$759K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0315%	1h	142.94	+0.051%	$3.4M	$2.1M	50x	as long as short