Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.015%

Price spread now: Kraken Futures against Kalshi+0.201%57s7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$560.557% of the position

Long on Kalshi Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.201%, 7d avg +0.056%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Kraken Futures is 0.145% dearer against Kalshi than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.056%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBCHPERP	264.90	0	get 0.0000% / 8h	21m 25s	$1.0M	$10.3M	2.7x
Short	Kraken Futures PF_BCHUSD	265.43	0.0011	get 0.0001% / 1h	21m 25s	$850K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Kalshi. 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 KalshibpFee Kraken FuturesbpOrdersPrice spread, now +0.201%Rate

Funding earned: $2.28
Price spread: +0.201% → +0.056%: $14.47
Slippage, 4 orders: −$35.7
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$38.95
Costs to cover: 0.557%
Break-even: 126.4 days

Slippage from Kalshi: live order book, 2 min ago; Kraken Futures: 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 Kalshi live order book, 2 min ago	6.23 bp	11.2 bp −$11	18.1 bp −$181	33.0 bp −$3,304	doesn't fit
Sell Kraken Futures live order book, 2 min ago	6.42 bp	13.8 bp −$14	22.2 bp −$222	doesn't fit	doesn't fit

BCH on 32 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
SunX BCH-USDT	−0.0501%	8h	265.03	+0.049%	$2K	$1.7M	30x	as long as short
Phemex BCHUSDT	−0.0271%	8h	264.68	−0.083%	$4.9M	$6.4M	50x	as long as short
HTX BCH-USDT	−0.0256%	8h	264.62	−0.106%	$772K	$1.4M	75x	as long as short
Nado BCH-PERP	−0.0255%	1h	265.02	+0.047%	$431K	$342K	10x	as long as short
SoDEX BCH-USD	−0.0173%	1h	265.25	+0.132%	$2K	$8K	10x	as long as short
Coinbase International BCH-PERP-INTX	−0.0104%	1h	264.84	−0.023%	$218K	$1.8M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0093%	8h	265.10	+0.076%	$25.0M	$74.8M	50x	as long as short
Extended BCH-USD	−0.0088%	1h	265.08	+0.069%	$115K	$950K	25x	as long as short
KuCoin BCHUSDTM	−0.0088%	8h	265.05	+0.057%	$8.5M	$7.0M	75x	as long as short
MEXC BCH_USDT	−0.0087%	8h	265.46	+0.211%	$70.3M	$7.8M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0085%	8h	265.20	+0.113%	$72.2M	$214.1M	75x	as long as short
Variational Omni BCH	−0.0078%	8h	265.10	+0.076%	$81K	$201K	—	as long as short
Gate BCH_USDT	−0.0072%	8h	265.17	+0.102%	$8.4M	$13.6M	75x	as long as short
Bitget BCHUSDT	−0.0072%	8h	265.16	+0.098%	$19.0M	$28.1M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0069%	8h	264.63	−0.101%	$386K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.23	+0.125%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.05	+0.057%	$5K	$248	10x	as long as short
Kalshi KXBCHPERPlong	0.0000%	8h	264.90	long leg	$1.0M	$10.3M	2.7x
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.35	+0.169%	$444K	$331K	25x	as long as short
BingX BCH-USDT	+0.0007%	8h	265.13	+0.087%	—	$32.1M	—	as long as short
Kraken Futures PF_BCHUSDshort	+0.0011%	1h	265.43	+0.201%	$850K	$3.0M	50x
Bybit BCHUSDT	+0.0015%	8h	265.20	+0.113%	$39.2M	$31.0M	75x	as long as short
BloFin BCH-USDT	+0.0031%	8h	264.76	−0.053%	$3.9M	$4.3M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.001%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0038%	8h	265.18	+0.106%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	264.98	+0.032%	$159K	$307K	10x	as long as short
Lighter BCH	+0.0096%	1h	264.93	+0.010%	$359K	$488K	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	264.94	+0.017%	$167K	$516K	75x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.41	+0.193%	$5.7M	$4.6M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.63	−0.104%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.32	+0.159%	$97K	$230K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0350% / S −0.0506%	1h	265.27	+0.139%	$24K	—	100x	as long as short