Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.009%

Price spread now: Kalshi against 01 Exchange−0.070%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.070% cheaper against 01 Exchange than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange AAVEUSD	141.96	0.0104	pay 0.0013% / 1h	51m 57s	$10K	$2K	5x
Short	Kalshi KXAAVEPERP	141.86	0	get 0.0000% / 8h	4h 51m	$50K	$1.4M	3.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against 01 Exchange. 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 01 ExchangebpFee KalshibpOrdersPrice spread, now −0.070%Rate

Funding earned: −$21.84
Price spread: −0.070% → 0.000%: −$7.04
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$45.88
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Kalshi: live order book, 1 min ago. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 1 min ago	3.17 bp	14.8 bp −$15	23.8 bp −$238	doesn't fit	doesn't fit

01 Exchange: 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 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	141.85	−0.079%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERPshort	0.0000%	8h	141.86	−0.070%	$50K	$1.4M	3.4x
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	141.90	−0.042%	$215K	$388K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.90	−0.044%	$79K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.522%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	141.84	−0.087%	—	—	20x	as long as short
Nado AAVE-PERP	+0.0075%	1h	141.78	−0.127%	$827K	$396K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0081%	8h	141.87	−0.063%	$18K	$7K	10x	as long as short
Lighter AAVE	+0.0096%	1h	142.07	+0.075%	$4.5M	$2.4M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	141.77	−0.135%	$13K	$4K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	142.12	+0.113%	$77.7M	$36.8M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	142.19	+0.165%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.90	−0.042%	$324K	$384K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	142.14	+0.124%	$63.7M	$189.2M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.10	+0.099%	$61.2M	$67.9M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.15	+0.134%	$17.0M	$64.1M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.94	−0.014%	$63K	$193K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.77	−0.137%	$160K	$103K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.00	+0.028%	$8.0M	$16.0M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.12	+0.113%	$23.9M	$23.9M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.12	+0.113%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.13	+0.120%	$29.0M	$17.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	142.13	+0.120%	—	$6.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	141.34	−0.438%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.55	−0.286%	$107K	$281K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.64	−0.227%	$442K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.62	−0.240%	$132K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.95	−0.007%	$141K	$470K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.80	−0.110%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	141.89	−0.049%	$5K	$286K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.13	+0.120%	$673K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	141.98	+0.014%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.12	+0.111%	$901K	$1.7M	50x	as long as short
01 Exchange AAVEUSDlong	+0.0104%	1h	141.96	long leg	$10K	$2K	5x
Aevo AAVE-PERP	+0.0104%	1h	141.92	−0.029%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0152%	1h	141.74	−0.155%	$5K	$98K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.81	−0.106%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	141.91	−0.032%	$187K	$276K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	141.90	−0.042%	$111K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.89	−0.049%	$752K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0270%	1h	141.97	+0.009%	$3.4M	$2.1M	50x	as long as short
Backpack AAVE_USDC_PERP	+0.0316%	1h	142.14	+0.127%	$387K	$729K	10x	as long as short