Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.042%

Price spread now: Kalshi against Extended+0.183%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$430.435% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.216%−$22 on $10k

Price spread, last 3 days (all we have)−0.054%−$5 · spread now +0.183%, 7d avg −0.015%

Together, before fees−0.270%+ Points / potential airdropExtended: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.199% dearer against Extended than usual: you sell high and buy low (spread +0.183% now, against its 7-day average of −0.015%): +$20 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AAVE-USD	145.45	0.0104	pay 0.0013% / 1h	3m 51s	$934K	$1.7M	50x
Short	Kalshi KXAAVEPERP	145.72	0	get 0.0000% / 8h	3h 03m	$66K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.183%Rate

Funding earned: −$21.84
Price spread: +0.183% → −0.015%: $19.85
Slippage, 4 orders: −$28.46
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$45.45
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from Extended: live order book, 5 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 Extended live order book, 5 min ago	3.42 bp	6.9 bp −$7	17.4 bp −$174	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	7.18 bp	17.7 bp −$18	27.3 bp −$273	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	145.82	+0.251%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.73	+0.190%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0037%	1h	145.73	+0.190%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.86	+0.276%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	145.72	+0.183%	$66K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	146.22	+0.527%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.80	+0.238%	$254K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.88	+0.293%	$71K	—	150x	as long as short
Phemex AAVEUSDT	+0.0017%	8h	145.78	+0.224%	$4.2M	$3.8M	50x	as long as short
MEXC AAVE_USDT	+0.0027%	8h	145.43	−0.016%	$28.4M	$26.0M	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	+0.0029%	8h	145.23	−0.154%	$65.8M	$183.3M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.839%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.77	+0.217%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.79	+0.228%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.26	−0.133%	$17.7M	$65.9M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	146.47	+0.699%	$136K	$231K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.79	+0.229%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.91	+0.311%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.92	+0.321%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.80	+0.236%	$798K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.71	+0.177%	$79.4M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.60	+0.099%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.88	+0.293%	$333K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.24	−0.147%	$62.2M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.83	+0.259%	$46K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.52	+0.046%	$7.9M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.53	+0.052%	$11.0M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.46	+0.004%	$30.2M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.32	−0.092%	—	$44.2M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.70	+0.169%	$333K	$743K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.052%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.452%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.52	+0.733%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.85	+0.272%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	+0.228%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.89	+0.303%	$708K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.568%	$59K	$2K	10x	as long as short
Extended AAVE-USDlong	+0.0104%	1h	145.45	long leg	$934K	$1.7M	50x
RISEx AAVE/USDC	+0.0107%	1h	145.82	+0.250%	$185K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.51	+0.039%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.86	+0.277%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.92	+0.321%	$781K	$2.9M	50x	as long as short