Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.041%

Price spread now: Arcus against Kalshi−0.106%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−$64as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Kalshi Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.127%+$13 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now −0.106%, 7d avg +0.076%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.182% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of +0.076%). If the spread goes back, that is −$18 on $10k: about 6.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	141.11	0	get 0.0000% / 8h	30m 40s	$47K	$1.3M	3.4x
Short	Arcus AAVE-USD	140.96	0.0100	get 0.0013% / 1h	30m 40s	$94K	$205K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.106%Rate

Funding earned: $21
Price spread: −0.106% → +0.076%: −$18.25
Slippage, 4 orders: −$30.81
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$42.56
Costs to cover: 0.453%
Break-even: 21.2 days

Slippage from Kalshi: live order book, 1 min ago; Arcus: live order book, 11 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, 1 min ago	4.96 bp	10.0 bp −$10	17.2 bp −$172	doesn't fit	doesn't fit
Sell Arcus live order book, 11 min ago	2.83 bp	9.5 bp −$10	26.7 bp −$267	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	−0.0096%	1h	140.82	−0.206%	$10K	$370	5x	as long as short
SoDEX AAVE-USD	−0.0094%	1h	141.06	−0.035%	$7K	$208K	10x	as long as short
Bybit AAVEUSDT	−0.0017%	8h	140.84	−0.191%	$61.6M	$59.0M	75x	as long as short
dYdX AAVE-USD	0.0000%	1h	140.95	−0.112%	$101K	$6K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	141.11	long leg	$47K	$1.3M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.10	−0.007%	$210K	$307K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.14	+0.021%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.941%	$422	$51K	12x	as long as short
Variational Omni AAVE	+0.0037%	8h	141.01	−0.067%	$3.6M	$746K	—	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.06	−0.035%	—	—	20x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AAVEUSDT	+0.0052%	8h	141.05	−0.043%	$3.9M	$3.5M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0081%	8h	141.04	−0.050%	$17K	$2K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.07	−0.030%	$4.5M	$2.2M	10x	as long as short
Phoenix AAVE	+0.0097%	1h	141.24	+0.092%	$4K	$81K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0098%	8h	140.86	−0.177%	$16.1M	$51.6M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.82	−0.209%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.02	−0.060%	$820K	$312K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.12	+0.007%	$77.6M	$27.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.00	−0.078%	$1.2M	$1.0M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.92	−0.135%	$315K	$360K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.81	−0.213%	$63.5M	$158.5M	75x	as long as short
Arcus AAVE-USDshort	+0.0100%	1h	140.96	−0.106%	$94K	$205K	10x
Gate AAVE_USDT	+0.0100%	8h	140.89	−0.156%	$8.2M	$13.3M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.92	−0.135%	$22.5M	$21.5M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.05	−0.043%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.93	−0.128%	$29.1M	$16.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.86	−0.177%	—	$34.7M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.10	−0.008%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.13	+0.014%	$453K	$3.0M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.11	0.000%	$131K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.18	+0.050%	$132K	$371K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.09	−0.013%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.52	+0.289%	$638K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.14	+0.018%	$112K	$73K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.79	−0.229%	$911K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.06	−0.035%	$119K	—	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0119%	1h	141.18	+0.050%	$384K	$589K	10x	as long as short
RISEx AAVE/USDC	+0.0175%	1h	140.90	−0.149%	$171K	$233K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.04	−0.050%	$3.2M	$3.2M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0255% / S −0.0365%	1h	141.15	+0.030%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.51	+0.283%	$758K	$2.1M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0334%	1h	141.18	+0.051%	$3.4M	$1.8M	50x	as long as short