Kevin Federline -- I'm Makin' Bank Now As a DJ!!!

Kevin Federline has gone from living in a $10 million house to DJing in the OC for a grand.

KFed will be spinning at Heat Nightclub March 7th. He's not making Britney money -- $475K a show in Vegas -- but he's getting a thousand bucks and that's a start.

The good news ... he's still getting child support, although the $20K a month went down significantly after Britney stabilized and took more custody back.

Here's the thing. Kevin is a happy guy who knows music and has even had a hit -- yes, "Popo Zao" counts. And we hear the club is pretty awesome and the crowd will go crazy if he plays it.