Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.036%

Price spread now: ApeX Omni against Kalshi+0.232%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$570.568% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.244%−$24 · spread now +0.232%, 7d avg +0.089%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.143% dearer against Kalshi than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	142.37	0	get 0.0000% / 8h	5h 44m	$51K	$1.5M	3.4x
Short	ApeX Omni AAVEUSDT	142.70	0.0100	get 0.0013% / 1h	44m 29s	$133K	$223K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now +0.232%Rate

Funding earned: $21
Price spread: +0.232% → +0.089%: $14.29
Slippage, 4 orders: −$36.81
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$21.52
Costs to cover: 0.568%
Break-even: 14.2 days

Slippage from Kalshi: live order book, 4 min ago; ApeX Omni: live order book, 62 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 Kalshi live order book, 4 min ago	1.75 bp	6.8 bp −$7	15.2 bp −$152	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 62 min ago	4.90 bp	12.7 bp −$13	102.1 bp −$1,021	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	142.74	+0.260%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	142.37	long leg	$51K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.76	+0.274%	$217K	$396K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.76	+0.275%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.800%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.49	+0.086%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0059%	1h	142.56	+0.137%	$827K	$401K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0077%	8h	142.73	+0.253%	$18K	$10K	10x	as long as short
Phoenix AAVE	+0.0089%	1h	143.30	+0.653%	$4K	$108K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.75	+0.269%	$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	142.61	+0.166%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.69	+0.223%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	142.69	+0.227%	$326K	$449K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.64	+0.191%	$64.3M	$191.9M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.55	+0.126%	$61.3M	$68.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.52	+0.105%	$17.0M	$65.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.73	+0.253%	$64K	$197K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.88	+0.360%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.67	+0.211%	$8.0M	$15.9M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.63	+0.183%	$25.0M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.68	+0.218%	$10.3M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.62	+0.176%	$29.2M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.68	+0.218%	—	$43.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	142.80	+0.302%	$335K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.34	−0.021%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.69	+0.225%	$107K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.76	+0.272%	$452K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDTshort	+0.0100%	1h	142.70	+0.232%	$133K	$223K	50x
Polymarket Perps AAVE-USD	+0.0100%	1h	142.61	+0.169%	$141K	$471K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.76	+0.272%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.72	+0.246%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.93	+0.391%	$678K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.74	+0.260%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.56	+0.136%	$906K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.77	+0.278%	$121K	$146	10x	as long as short
01 Exchange AAVEUSD	+0.0136%	1h	142.69	+0.225%	$10K	$2K	5x	as long as short
Hyperliquid AAVE	+0.0208%	1h	142.73	+0.253%	$78.0M	$37.2M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.77	+0.281%	$3.3M	$3.6M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.78	+0.286%	$112K	—	100x	as long as short
RISEx AAVE/USDC	+0.0256%	1h	142.68	+0.215%	$195K	$262K	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	142.70	+0.232%	$756K	$2.9M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0316%	1h	142.85	+0.336%	$3.4M	$2.1M	50x	as long as short