Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.041%

Price spread now: Kalshi against Polymarket Perps−0.126%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

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

costs, in and out, $10k−$460.464% of the position

Long on Polymarket Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.126%, 7d avg −0.121%

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

The price spread sits at its 7-day average of −0.121%, 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	Polymarket Perps AAVE-USD	143.24	0.0100	pay 0.0013% / 1h	48m 40s	$134K	$453K	10x
Short	Kalshi KXAAVEPERP	143.06	0	get 0.0000% / 8h	6h 48m	$50K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Polymarket Perps. 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 Polymarket PerpsbpFee KalshibpOrdersPrice spread, now −0.126%Rate

Funding earned: −$21
Price spread: −0.126% → −0.121%: −$0.43
Slippage, 4 orders: −$28.37
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$67.81
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 64 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 Polymarket Perps live order book, 64 min ago	3.47 bp	7.6 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.80 bp	15.7 bp −$16	22.7 bp −$227	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-PERPETUAL	−0.0099%	1h	143.14	−0.070%	$219K	$390K	50x	as long as short
Nado AAVE-PERP	−0.0070%	1h	143.17	−0.049%	$835K	$401K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	143.15	−0.062%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	143.06	−0.126%	$50K	$1.5M	3.4x
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.20	−0.027%	$80K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.384%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	143.12	−0.083%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0062%	8h	143.14	−0.070%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0064%	8h	143.12	−0.084%	$4.0M	$3.6M	50x	as long as short
01 Exchange AAVEUSD	+0.0088%	1h	143.41	+0.119%	$10K	$2K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AAVE-USD-PERP	+0.0100%	8h	143.13	−0.077%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	143.33	+0.063%	$78.4M	$37.1M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.36	+0.086%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.20	−0.028%	$328K	$447K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.35	+0.077%	$64.1M	$188.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.25	+0.007%	$61.4M	$68.1M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.25	+0.007%	$17.1M	$64.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.43	+0.133%	$64K	$199K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.94	−0.211%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.21	−0.021%	$8.1M	$16.1M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.17	−0.049%	$25.8M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.24	0.000%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.20	−0.028%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.24	0.000%	—	$43.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.16	−0.056%	$336K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	143.19	−0.035%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.82	−0.291%	$105K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	143.14	−0.070%	$449K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	143.14	−0.070%	$133K	$222K	50x	as long as short
Polymarket Perps AAVE-USDlong	+0.0100%	1h	143.24	long leg	$134K	$453K	10x
SunX AAVE-USDT	+0.0100%	8h	143.15	−0.063%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	143.05	−0.133%	$5K	$311K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	143.26	+0.015%	$684K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	143.24	−0.003%	$909K	$1.8M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.17	−0.046%	$121K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.89	−0.244%	$4K	$106K	10x	as long as short
RISEx AAVE/USDC	+0.0207%	1h	143.41	+0.117%	$187K	$251K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.10	−0.098%	$3.3M	$3.6M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0237%	1h	143.13	−0.075%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.17	−0.047%	$112K	—	100x	as long as short
Lighter AAVE	+0.0328%	1h	143.40	+0.110%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	143.18	−0.042%	$779K	$2.8M	50x	as long as short