Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h —

Price spread now: Kalshi against Reya+0.042%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Kalshi is 0.042% dearer against Reya than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	141.27	0.0044	pay 0.0006% / 1h	46m 03s	—	—	20x
Short	Kalshi KXAAVEPERP	141.33	0	get 0.0000% / 8h	1h 46m	$45K	$1.3M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Reya. 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 ReyabpFee KalshibpOrdersPrice spread, now +0.042%Rate

Funding earned: −$9.27
Price spread: +0.042% → 0.000%: $4.24
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$21.02
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Kalshi: live order book, just now. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Kalshi live order book, just now	0.35 bp	27.1 bp −$27	33.4 bp −$334	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE on 42 exchanges

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
SoDEX AAVE-USD	−0.0109%	1h	141.33	+0.042%	$7K	$228K	10x	as long as short
ApeX Omni AAVEUSDT	−0.0083%	1h	141.32	+0.035%	$131K	$221K	50x	as long as short
01 Exchange AAVEUSD	−0.0016%	1h	141.39	+0.085%	$10K	$1K	5x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.38	+0.076%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	141.33	+0.042%	$45K	$1.3M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.37	+0.071%	$208K	$305K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.32	+0.033%	$79K	—	150x	as long as short
Bybit AAVEUSDT	+0.0013%	8h	141.23	−0.028%	$61.1M	$59.3M	75x	as long as short
Phoenix AAVE	+0.0028%	1h	141.45	+0.127%	$4K	$81K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.051%	$422	$51K	12x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERPlong	+0.0044%	1h	141.27	long leg	—	—	20x
Phemex AAVEUSDT	+0.0046%	8h	141.28	+0.007%	$3.9M	$3.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0085%	8h	141.29	+0.014%	$17K	$2K	10x	as long as short
Variational Omni AAVE	+0.0094%	8h	141.24	−0.022%	$3.7M	$692K	—	as long as short
Lighter AAVE	+0.0096%	1h	141.51	+0.173%	$4.6M	$2.2M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.29	+0.014%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.29	+0.018%	$812K	$306K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.39	+0.085%	$77.7M	$27.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.39	+0.086%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.35	+0.057%	$344K	$307K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.29	+0.016%	$63.6M	$161.5M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.23	−0.028%	$16.3M	$52.3M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.46	+0.134%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.28	+0.007%	$8.1M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.32	+0.035%	$21.8M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.31	+0.028%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.25	−0.014%	$29.1M	$15.8M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	141.23	−0.028%	—	$42.9M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.37	+0.071%	$387K	$601K	10x	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.26	−0.005%	$109K	$283K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.72	+0.316%	$453K	$3.1M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.38	+0.078%	$133K	$365K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.31	+0.031%	$1K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.54	+0.194%	$657K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.31	+0.029%	$163K	$107K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.27	+0.002%	$913K	$1.4M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.35	+0.060%	$119K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.38	+0.078%	$171K	$207K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.30	+0.021%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	141.87	+0.425%	$752K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0254% / S −0.0365%	1h	141.36	+0.062%	$111K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0307%	1h	141.43	+0.115%	$3.5M	$1.9M	50x	as long as short