Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: dYdX against Kalshi−0.001%7-day average +0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$223as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2262.257% of the position

Long on Kalshi Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.096%−$10 · spread now −0.001%, 7d avg +0.090%

Together, before fees−0.074%−$7 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: dYdX is 0.091% cheaper against Kalshi than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	144.74	0	get 0.0000% / 8h	3h 00m	$65K	$1.5M	3.4x
Short	dYdX AAVE-USD	144.74	0	get 0.0000% / 1h	0m 46s	$103K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → +0.090%: −$9.14
Slippage, 4 orders: −$205.67
Fee Kalshi: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$234.81
Costs to cover: 2.257%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; dYdX: live order book, 8 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, 2 min ago	6.20 bp	11.2 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit
Sell dYdX live order book, 8 min ago	67.94 bp	77.4 bp −$77	206.2 bp −$2,062	387.0 bp −$38.7K	871.7 bp −$435.9K

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	−0.0186%	1h	144.72	−0.011%	$3.5M	$2.0M	50x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0164%	1h	144.71	−0.021%	$252K	$362K	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.69	−0.035%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0036%	1h	144.61	−0.090%	$5K	$302K	10x	as long as short
ApeX Omni AAVEUSDT	−0.0014%	1h	145.08	+0.235%	$135K	$231K	50x	as long as short
dYdX AAVE-USDshort	0.0000%	1h	144.74	−0.001%	$103K	$4K	10x
Kalshi KXAAVEPERPlong	0.0000%	8h	144.74	long leg	$65K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	145.14	+0.276%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.80	+0.039%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0030%	8h	144.69	−0.035%	$28.1M	$26.2M	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	+0.0031%	8h	144.69	−0.034%	$65.3M	$183.9M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.375%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.71	−0.021%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.75	+0.004%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0063%	8h	144.63	−0.076%	$17.5M	$65.7M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	144.71	−0.024%	$122K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.91	+0.117%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.71	−0.022%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.72	−0.010%	$794K	$424K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.77	+0.021%	$78.7M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.63	−0.077%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.72	−0.017%	$330K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.64	−0.069%	$61.9M	$64.9M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.79	+0.035%	$45K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.67	−0.048%	$7.8M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.78	+0.028%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.66	−0.055%	$30.0M	$18.0M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.67	−0.048%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.72	−0.014%	$331K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.69	−0.035%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	145.23	+0.337%	$105K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.47	+0.506%	$454K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.82	+0.055%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.69	−0.037%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.01	+0.189%	$704K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.67	−0.048%	$4.1M	$3.8M	50x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+1.064%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.61	−0.090%	$929K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	144.72	−0.011%	$183K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0121%	8h	144.75	+0.007%	$3.5M	$3.4M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0366%	1h	144.78	+0.027%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.79	+0.035%	$775K	$2.9M	50x	as long as short