Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.041%

Price spread now: Kalshi against Arcus−0.192%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Arcus Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.126%−$13 on $10k

Price spread, last 4 days (all we have)+0.274%+$27 · spread now −0.192%, 7d avg −0.076%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.116% cheaper against Arcus than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus AAVE-USD	140.94	0.0100	pay 0.0013% / 1h	7m 06s	$94K	$205K	10x
Short	Kalshi KXAAVEPERP	140.67	0	get 0.0000% / 8h	1h 07m	$42K	$1.3M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Arcus. 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 ArcusbpFee KalshibpOrdersPrice spread, now −0.192%Rate

Funding earned: −$21
Price spread: −0.192% → −0.076%: −$11.56
Slippage, 4 orders: −$33.48
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$80.53
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Arcus: live order book, 39 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 Arcus live order book, 39 min ago	2.48 bp	7.8 bp −$8	18.6 bp −$186	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	5.33 bp	18.2 bp −$18	25.5 bp −$255	doesn't fit	doesn't fit

AAVE on 42 exchanges

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
01 Exchange AAVEUSD	−0.0032%	1h	140.83	−0.078%	$10K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0010%	1h	140.69	−0.177%	$7K	$216K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.77	−0.117%	$101K	$6K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	140.67	−0.192%	$42K	$1.3M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.71	−0.163%	$207K	$304K	50x	as long as short
Bybit AAVEUSDT	+0.0002%	8h	140.63	−0.220%	$60.7M	$58.9M	75x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.85	−0.062%	$78K	—	150x	as long as short
Phoenix AAVE	+0.0028%	1h	140.89	−0.035%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.824%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.76	−0.129%	—	—	20x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAVE	+0.0067%	8h	140.64	−0.213%	$3.6M	$758K	—	as long as short
Phemex AAVEUSDT	+0.0072%	8h	140.74	−0.142%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0084%	8h	140.67	−0.192%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	140.84	−0.070%	$4.5M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.77	−0.119%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.64	−0.213%	$809K	$305K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	140.84	−0.071%	$77.4M	$27.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.74	−0.140%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.84	−0.072%	$343K	$299K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.66	−0.202%	$63.4M	$158.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	140.61	−0.234%	$16.1M	$51.3M	50x	as long as short
Arcus AAVE-USDlong	+0.0100%	1h	140.94	long leg	$94K	$205K	10x
Bulk AAVE-USD	+0.0100%	1h	140.86	−0.053%	$166K	$69K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.66	−0.199%	$8.1M	$13.7M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.70	−0.170%	$22.3M	$22.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.72	−0.156%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.62	−0.227%	$29.0M	$15.7M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	140.64	−0.213%	—	$6.5M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	140.70	−0.170%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	140.87	−0.049%	$448K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	140.78	−0.114%	$131K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.85	−0.064%	$132K	$366K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.70	−0.172%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.07	+0.092%	$637K	$1.4M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.62	−0.224%	$912K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.72	−0.157%	$119K	—	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	140.87	−0.053%	$182K	$226K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0139%	1h	140.80	−0.099%	$385K	$595K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.67	−0.192%	$3.2M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	140.80	−0.099%	$750K	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	140.71	−0.165%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0308%	1h	140.79	−0.109%	$3.4M	$1.8M	50x	as long as short