Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.004%

Price spread now: Kalshi against SoDEX+0.007%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.007%, 7d avg −0.068%

Together, before fees−0.157%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.075% dearer against SoDEX than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.068%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 3 days (−0.022% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAVE-USD	143.02	0.0100	pay 0.0013% / 1h	15m 54s	$5K	$310K	10x
Short	Kalshi KXAAVEPERP	143.03	0	get 0.0000% / 8h	7h 15m	$51K	$1.5M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now +0.007%Rate

Funding earned: −$21
Price spread: +0.007% → −0.068%: $7.51
Slippage, 4 orders: −$22.67
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$54.17
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from SoDEX: live order book, 38 min ago; Kalshi: live order book, 2 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 SoDEX live order book, 38 min ago	0.35 bp	5.2 bp −$5	10.6 bp −$106	98.8 bp −$9,883	doesn't fit
Sell Kalshi live order book, 2 min ago	0.70 bp	15.7 bp −$16	22.9 bp −$229	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
dYdX AAVE-USD	0.0000%	1h	143.05	+0.023%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	143.03	+0.007%	$51K	$1.5M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	143.02	0.000%	$219K	$390K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	143.04	+0.015%	$80K	—	150x	as long as short
Nado AAVE-PERP	+0.0030%	1h	143.08	+0.045%	$833K	$398K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−4.237%	$422	$51K	12x	as long as short
Phoenix AAVE	+0.0033%	1h	143.01	−0.007%	$4K	$106K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.94	−0.055%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0057%	8h	143.02	0.000%	$18K	$10K	10x	as long as short
Phemex AAVEUSDT	+0.0060%	8h	143.05	+0.021%	$4.0M	$3.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange AAVEUSD	+0.0096%	1h	143.12	+0.070%	$10K	$2K	5x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	143.09	+0.051%	$13K	$4K	20x	as long as short
Aster AAVEUSDT	+0.0100%	8h	143.10	+0.054%	$1.2M	$1.3M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	143.08	+0.042%	$327K	$446K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	143.06	+0.028%	$63.9M	$189.0M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	143.06	+0.028%	$61.5M	$67.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	143.05	+0.021%	$17.0M	$64.6M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	143.16	+0.098%	$64K	$200K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.57	−0.316%	$58K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	143.06	+0.028%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	143.07	+0.035%	$25.3M	$24.0M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	143.03	+0.007%	$10.3M	$9.4M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	143.03	+0.007%	$29.3M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	143.04	+0.014%	—	$43.6M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	143.15	+0.091%	$336K	$724K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	142.94	−0.056%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	142.70	−0.225%	$104K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.80	−0.154%	$450K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.80	−0.154%	$133K	$221K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	143.09	+0.049%	$132K	$449K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.98	−0.031%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USDlong	+0.0100%	1h	143.02	long leg	$5K	$310K	10x
HTX AAVE-USDT	+0.0100%	8h	143.16	+0.099%	$685K	$5.2M	75x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.97	−0.035%	$908K	$1.7M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	143.05	+0.020%	$121K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0132%	1h	143.11	+0.062%	$185K	$251K	10x	as long as short
Hyperliquid AAVE	+0.0138%	1h	143.20	+0.126%	$78.3M	$37.1M	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	143.21	+0.133%	$3.3M	$3.6M	100x	as long as short
Lighter AAVE	+0.0232%	1h	143.27	+0.173%	$4.5M	$2.3M	10x	as long as short
Kraken Futures PF_AAVEUSD	+0.0248%	1h	143.11	+0.061%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	143.01	−0.007%	$112K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0360%	1h	143.29	+0.189%	$784K	$2.8M	50x	as long as short