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: Kalshi against Phemex−0.104%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$560.555% of the position

Long on Phemex Short on Kalshi

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)+0.040%+$4 · spread now −0.104%, 7d avg −0.097%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.097%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAVEUSDT	144.31	0.0100	pay 0.0100% / 8h	6h 18m	$4.1M	$3.8M	50x
Short	Kalshi KXAAVEPERP	144.16	0	get 0.0000% / 8h	2h 18m	$70K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.104%Rate

Funding earned: −$21
Price spread: −0.104% → −0.097%: −$0.67
Slippage, 4 orders: −$33.52
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$77.19
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Kalshi: 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 Phemex live order book, 5 min ago	2.07 bp	11.9 bp −$12	23.4 bp −$234	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.76 bp	9.2 bp −$9	15.4 bp −$154	doesn't fit	doesn't fit

AAVE on 41 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-PERPETUAL	−0.0650%	1h	144.30	−0.007%	$245K	$363K	50x	as long as short
01 Exchange AAVEUSD	−0.0040%	1h	144.34	+0.021%	$11K	$2K	5x	as long as short
Kraken Futures PF_AAVEUSD	−0.0034%	1h	144.37	+0.042%	$3.5M	$2.0M	50x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.50	+0.129%	$103K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	144.16	−0.104%	$70K	$1.4M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.46	+0.105%	$70K	—	150x	as long as short
Phoenix AAVE	+0.0006%	1h	144.83	+0.360%	$5K	$98K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.093%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	144.34	+0.023%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	144.40	+0.062%	$18K	$10K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AAVE_USDT	+0.0065%	8h	144.41	+0.069%	$26.8M	$24.9M	200x	as long as short
Binance AAVEUSDT	+0.0067%	8h	144.46	+0.104%	$65.3M	$184.6M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0079%	8h	144.37	+0.042%	$17.3M	$65.3M	50x	as long as short
RISEx AAVE/USDC	+0.0089%	1h	144.40	+0.064%	$200K	$229K	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.79	+0.336%	$4.7M	$1.5M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.44	+0.090%	$122K	$146	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.64	+0.226%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.41	+0.069%	$803K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.50	+0.132%	$78.2M	$35.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.44	+0.093%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.62	+0.217%	$330K	$435K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	144.41	+0.069%	$61.7M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	144.38	+0.049%	$45K	$181K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.44	+0.092%	$58K	$2K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	144.42	+0.076%	$7.8M	$15.2M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.41	+0.069%	$10.8M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.41	+0.069%	$30.0M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	144.43	+0.083%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.47	+0.111%	$322K	$745K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.48	+0.117%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.61	+0.206%	$104K	$318K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	144.81	+0.347%	$464K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	144.63	+0.222%	$134K	$219K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.41	+0.069%	$124K	$419K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.19	−0.086%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	144.43	+0.083%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.30	−0.004%	$699K	$5.2M	75x	as long as short
Phemex AAVEUSDTlong	+0.0100%	8h	144.31	long leg	$4.1M	$3.8M	50x
Extended AAVE-USD	+0.0104%	1h	144.43	+0.081%	$917K	$1.7M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0245% / S −0.0378%	1h	144.45	+0.098%	$125K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0296%	1h	144.29	−0.014%	$776K	$2.8M	50x	as long as short