Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Kalshi against dYdX+0.060%88s7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$318as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3173.168% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now +0.060%, 7d avg −0.076%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.136% dearer against dYdX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.076%. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AAVE-USD	142.67	0	get 0.0000% / 1h	25m 04s	$102K	$4K	10x
Short	Kalshi KXAAVEPERP	142.76	0	get 0.0000% / 8h	5h 25m	$50K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → −0.076%: $13.57
Slippage, 4 orders: −$296.82
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$303.25
Costs to cover: 3.168%
Break-even: never at this rate

Slippage from dYdX: live order book, 19 min ago; Kalshi: live order book, 3 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 dYdX live order book, 19 min ago	69.69 bp	74.7 bp −$75	74.7 bp −$747	74.7 bp −$7,469	92.9 bp −$46.5K
Sell Kalshi live order book, 3 min ago	2.11 bp	13.4 bp −$13	21.0 bp −$210	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-USDlong	0.0000%	1h	142.67	long leg	$102K	$4K	10x
Kalshi KXAAVEPERPshort	0.0000%	8h	142.76	+0.060%	$50K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.74	+0.046%	$216K	$398K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.81	+0.093%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.006%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.76	+0.058%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0049%	1h	142.74	+0.046%	$829K	$393K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0079%	8h	142.71	+0.025%	$18K	$7K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	142.30	−0.263%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.86	+0.131%	$4.5M	$2.5M	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	142.65	−0.019%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.72	+0.033%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.70	+0.018%	$326K	$385K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.65	−0.014%	$64.2M	$189.3M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.64	−0.024%	$61.5M	$67.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.61	−0.045%	$17.0M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.85	+0.123%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.07	−0.420%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.71	+0.025%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.62	−0.038%	$24.6M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.67	−0.003%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.71	+0.025%	$29.2M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.68	+0.004%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.76	+0.060%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.26	−0.293%	$107K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.35	−0.227%	$448K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.36	−0.221%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.86	+0.130%	$141K	$472K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.70	+0.017%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.71	+0.025%	$5K	$285K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.84	+0.119%	$676K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.72	+0.032%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.57	−0.073%	$905K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.75	+0.053%	$121K	$146	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0120%	1h	142.80	+0.088%	$396K	$728K	10x	as long as short
01 Exchange AAVEUSD	+0.0120%	1h	142.84	+0.116%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0188%	1h	142.83	+0.109%	$78.1M	$37.1M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.73	+0.039%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.38	−0.207%	$111K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.85	+0.121%	$193K	$263K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.23	−0.312%	$754K	$2.8M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.79	+0.081%	$3.4M	$2.1M	50x	as long as short