Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.275%

Price spread now: Deribit against Kalshi+0.096%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Kalshi Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now +0.096%, 7d avg +0.066%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.030% dearer against Kalshi than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of +0.066%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	146.20	0	get 0.0000% / 8h	4h 18m	$85K	$1.5M	3.4x
Short	Deribit AAVE_USDC-PERPETUAL	146.34	−0.0092	pay 0.0011% / 1h	18m 16s	$255K	$389K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$19.32
Price spread: +0.096% → +0.066%: $2.96
Slippage, 4 orders: −$32.75
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$66.11
Costs to cover: 0.498%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; Deribit: live order book, 56 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, 5 min ago	6.52 bp	18.2 bp −$18	28.9 bp −$289	doesn't fit	doesn't fit
Sell Deribit live order book, 56 min ago	5.17 bp	8.7 bp −$9	doesn't fit	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
Deribit AAVE_USDC-PERPETUALshort	−0.0092%	1h	146.34	+0.096%	$255K	$389K	50x
SoDEX AAVE-USD	−0.0085%	1h	146.30	+0.068%	$5K	$305K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.39	+0.130%	$5K	$99K	10x	as long as short
01 Exchange AAVEUSD	−0.0024%	1h	146.34	+0.096%	$11K	$2K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.33	+0.088%	$104K	$5K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	146.20	long leg	$85K	$1.5M	3.4x
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.41	+0.146%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.39	+0.132%	$71K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.320%	$422	$51K	12x	as long as short
MEXC AAVE_USDT	+0.0038%	8h	146.33	+0.089%	$29.9M	$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	+0.0039%	8h	146.31	+0.075%	$66.7M	$186.5M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.27	+0.050%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.31	+0.075%	$18K	$12K	10x	as long as short
Gate AAVE_USDT	+0.0073%	8h	146.32	+0.082%	$7.9M	$15.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	146.33	+0.089%	$17.9M	$67.8M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.35	+0.099%	$124K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.53	+0.228%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.29	+0.062%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.29	+0.065%	$806K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.48	+0.192%	$80.8M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.42	+0.149%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.30	+0.068%	$334K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.31	+0.075%	$62.4M	$65.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.33	+0.089%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.23	+0.023%	$61K	$360	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.33	+0.089%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.28	+0.055%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.30	+0.068%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.44	+0.164%	$348K	$747K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	146.06	−0.099%	$3.8M	$1.4M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.60	−0.413%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.68	−0.356%	$468K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.78	−0.287%	$136K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.39	+0.130%	$128K	$457K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.29	+0.064%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.60	+0.276%	$693K	$5.1M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.32	+0.082%	$4.2M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.27	+0.046%	$940K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.36	+0.110%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0155%	8h	146.35	+0.103%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.38	+0.125%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.10	−0.068%	$788K	$3.0M	50x	as long as short