AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.040%

Price spread now: Phemex against Kalshi−0.309%7-day average +0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 3 days (all we have)+0.403%+$40 · spread now −0.309%, 7d avg +0.097%

Together, before fees+0.617%+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.406% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.309% now, against its 7-day average of +0.097%). If the spread goes back, that is −$41 on $10k: about 14 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	145.43	0	get 0.0000% / 8h	3h 02m	$65K	$1.5M	3.4x
Short	Phemex AAVEUSDT	144.98	0.0100	get 0.0100% / 8h	7h 02m	$4.1M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.309%Rate

Funding earned: $21
Price spread: −0.309% → +0.097%: −$40.63
Slippage, 4 orders: −$42.37
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$84
Costs to cover: 0.644%
Break-even: 35.0 days

Slippage from Kalshi: live order book, just now; Phemex: live order book, 6 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, just now	6.20 bp	11.2 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	3.42 bp	16.4 bp −$16	27.2 bp −$272	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	−0.0186%	1h	145.18	−0.171%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.15	−0.193%	$11K	$2K	5x	as long as short
Deribit AAVE_USDC-PERPETUAL	−0.0094%	1h	145.15	−0.193%	$253K	$363K	50x	as long as short
SoDEX AAVE-USD	−0.0039%	1h	145.08	−0.241%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.28	−0.101%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	145.43	long leg	$65K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	146.22	+0.543%	$5K	$102K	10x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.14	−0.201%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0029%	8h	145.22	−0.144%	$28.2M	$26.2M	200x	as long as short
Binance AAVEUSDT	+0.0030%	8h	145.22	−0.142%	$65.8M	$183.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.824%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0043%	1h	145.54	+0.076%	$135K	$231K	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.15	−0.193%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.09	−0.233%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.18	−0.172%	$17.6M	$65.9M	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.17	−0.178%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.20	−0.157%	$4.7M	$1.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.25	−0.123%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.18	−0.172%	$795K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.28	−0.103%	$79.0M	$35.5M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.15	−0.194%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.25	−0.121%	$332K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.22	−0.144%	$62.2M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.18	−0.172%	$45K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.24	−0.131%	$7.8M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.27	−0.110%	$10.9M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.12	−0.213%	$30.1M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.21	−0.151%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.16	−0.186%	$332K	$744K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.036%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.468%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.47	+0.029%	$454K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.17	−0.179%	$126K	$417K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.26	−0.120%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.52	+0.065%	$707K	$5.2M	75x	as long as short
Phemex AAVEUSDTshort	+0.0100%	8h	144.98	−0.309%	$4.1M	$3.8M	50x
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.584%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.16	−0.187%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.19	−0.162%	$184K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0121%	8h	145.04	−0.268%	$3.5M	$3.4M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.11	−0.219%	$129K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	145.25	−0.124%	$777K	$2.9M	50x	as long as short