Funding arb · Price arb /

AAVE

all AAVE markets

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: Extended against Kalshi−0.418%54s7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on Kalshi Short on Extended

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)+0.289%+$29 · spread now −0.418%, 7d avg +0.015%

Together, before fees+0.505%+ Points / potential airdropExtended: Active · farm board+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.433% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.418% now, against its 7-day average of +0.015%). If the spread goes back, that is −$43 on $10k: about 14 days of funding at the current rate (+$3 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	145.72	0	get 0.0000% / 8h	3h 03m	$66K	$1.5M	3.4x
Short	Extended AAVE-USD	145.11	0.0104	get 0.0013% / 1h	3m 28s	$934K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.418%Rate

Funding earned: $21.84
Price spread: −0.418% → +0.015%: −$43.3
Slippage, 4 orders: −$28.46
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$64.92
Costs to cover: 0.435%
Break-even: 27.8 days

Slippage from Kalshi: live order book, 5 min ago; Extended: live order book, 5 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	7.18 bp	12.2 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	3.42 bp	6.7 bp −$7	18.4 bp −$184	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	+0.068%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.15	−0.391%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0037%	1h	145.73	+0.007%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.28	−0.300%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	145.72	long leg	$66K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	146.22	+0.343%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.80	+0.055%	$254K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.14	−0.399%	$70K	—	150x	as long as short
Phemex AAVEUSDT	+0.0017%	8h	145.78	+0.041%	$4.2M	$3.8M	50x	as long as short
MEXC AAVE_USDT	+0.0029%	8h	145.07	−0.446%	$28.2M	$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	+0.0030%	8h	145.11	−0.419%	$65.7M	$183.4M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−6.012%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0043%	1h	145.54	−0.124%	$135K	$231K	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.15	−0.391%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.09	−0.432%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.13	−0.405%	$17.7M	$65.8M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.17	−0.377%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.44	−0.195%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.25	−0.321%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.18	−0.371%	$795K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.23	−0.336%	$79.0M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.16	−0.384%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.25	−0.320%	$332K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.12	−0.412%	$62.1M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.18	−0.371%	$45K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.08	−0.439%	$7.8M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.15	−0.391%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.10	−0.425%	$30.1M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.08	−0.439%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.70	−0.014%	$333K	$743K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.235%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.268%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.47	−0.170%	$454K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.17	−0.377%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.78	+0.045%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.89	+0.119%	$708K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.384%	$59K	$2K	10x	as long as short
Extended AAVE-USDshort	+0.0104%	1h	145.11	−0.418%	$934K	$1.7M	50x
RISEx AAVE/USDC	+0.0107%	1h	145.19	−0.361%	$184K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.51	−0.144%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.11	−0.417%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.92	+0.137%	$781K	$2.9M	50x	as long as short