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: Kalshi against Kraken Futures−0.200%57s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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 Kraken Futures Short on Kalshi

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)+0.309%+$31 · spread now −0.200%, 7d avg −0.056%

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

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Kalshi is 0.144% cheaper against Kraken Futures than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.056%). Swap the legs. 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	Kraken Futures PF_BCHUSD	265.43	0.0011	pay 0.0001% / 1h	21m 20s	$850K	$3.0M	50x
Short	Kalshi KXBCHPERP	264.90	0	get 0.0000% / 8h	21m 20s	$1.0M	$10.3M	2.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Kraken Futures. 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 Kraken FuturesbpFee KalshibpOrdersPrice spread, now −0.200%Rate

Funding earned: −$2.28
Price spread: −0.200% → −0.056%: −$14.43
Slippage, 4 orders: −$35.7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$72.42
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Kalshi: live order book, 3 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 Kraken Futures live order book, 2 min ago	6.42 bp	19.4 bp −$19	32.7 bp −$327	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	6.23 bp	11.2 bp −$11	18.5 bp −$185	52.1 bp −$5,206	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	−0.151%	$2K	$1.7M	30x	as long as short
Phemex BCHUSDT	−0.0271%	8h	264.68	−0.283%	$4.9M	$6.4M	50x	as long as short
HTX BCH-USDT	−0.0256%	8h	264.62	−0.306%	$772K	$1.4M	75x	as long as short
Nado BCH-PERP	−0.0255%	1h	265.02	−0.153%	$431K	$342K	10x	as long as short
SoDEX BCH-USD	−0.0173%	1h	265.25	−0.068%	$2K	$8K	10x	as long as short
Coinbase International BCH-PERP-INTX	−0.0104%	1h	264.84	−0.223%	$218K	$1.8M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0093%	8h	265.10	−0.125%	$25.0M	$74.8M	50x	as long as short
Extended BCH-USD	−0.0088%	1h	265.08	−0.132%	$115K	$950K	25x	as long as short
KuCoin BCHUSDTM	−0.0088%	8h	265.05	−0.144%	$8.5M	$7.0M	75x	as long as short
MEXC BCH_USDT	−0.0087%	8h	265.46	+0.011%	$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	−0.087%	$72.2M	$214.1M	75x	as long as short
Variational Omni BCH	−0.0078%	8h	265.10	−0.124%	$81K	$201K	—	as long as short
Gate BCH_USDT	−0.0072%	8h	265.17	−0.098%	$8.4M	$13.6M	75x	as long as short
Bitget BCHUSDT	−0.0072%	8h	265.16	−0.102%	$19.0M	$28.1M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0069%	8h	264.63	−0.301%	$386K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.23	−0.075%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.05	−0.143%	$5K	$248	10x	as long as short
Kalshi KXBCHPERPshort	0.0000%	8h	264.90	−0.200%	$1.0M	$10.3M	2.7x
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.35	−0.031%	$444K	$331K	25x	as long as short
BingX BCH-USDT	+0.0007%	8h	265.13	−0.114%	—	$32.1M	—	as long as short
Kraken Futures PF_BCHUSDlong	+0.0011%	1h	265.43	long leg	$850K	$3.0M	50x
Bybit BCHUSDT	+0.0015%	8h	265.20	−0.087%	$39.2M	$31.0M	75x	as long as short
BloFin BCH-USDT	+0.0031%	8h	264.76	−0.253%	$3.9M	$4.3M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.797%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0038%	8h	265.18	−0.095%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	264.98	−0.168%	$159K	$307K	10x	as long as short
Lighter BCH	+0.0096%	1h	264.93	−0.190%	$359K	$488K	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	264.94	−0.183%	$167K	$516K	75x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.41	−0.008%	$5.7M	$4.6M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.63	−0.304%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.32	−0.042%	$97K	$230K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0350% / S −0.0506%	1h	265.27	−0.062%	$24K	—	100x	as long as short