Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h −0.002%

Price spread now: Kalshi against Aevo+0.031%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.031%, 7d avg +0.010%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.022% dearer against Aevo than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.010%. Mind the row above: over the last 7 days funding on this pair cost −0.172%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BNB-PERP	786.56	0.0104	pay 0.0013% / 1h	32m 45s	$378K	$110K	10x
Short	Kalshi KXBNBPERP	786.80	0.0134	get 0.0134% / 8h	5h 32m	$170K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.031%Rate

Funding earned: $6.38
Price spread: +0.031% → +0.010%: $2.16
Slippage, 4 orders: −$15.4
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$32.86
Costs to cover: 0.414%
Break-even: 43.0 days

Slippage from Aevo: live order book, 11 min ago; Kalshi: live order book, 1 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 Aevo live order book, 11 min ago	3.18 bp	13.9 bp −$14	20.0 bp −$200	23.4 bp −$2,339	doesn't fit
Sell Kalshi live order book, 1 min ago	2.54 bp	7.5 bp −$8	12.9 bp −$129	doesn't fit	doesn't fit

BNB on 46 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
GMX BNB/USD [WBTC.b-USDC]	L −0.0170% / S +0.0337%	1h	785.92	−0.081%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.27	−0.036%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.56	+0.001%	$848K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.58	+0.003%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.356%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0050%	8h	787.35	+0.101%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0052%	8h	786.90	+0.044%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.80	+0.158%	$81.1M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	787.09	+0.068%	$490.4M	$814.0M	75x	as long as short
dYdX BNB-USD	+0.0073%	1h	786.36	−0.025%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0077%	8h	787.29	+0.093%	$68.8M	$50.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.041%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.96	+0.051%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.75	−0.102%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.25	+0.088%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.33	−0.029%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	−0.020%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.020%	$53.5M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	−0.007%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.65	+0.012%	$37.3M	$59.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.37	−0.024%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.61	+0.007%	$76.1M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.14	+0.074%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.51	−0.133%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.54	−0.001%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.24	−0.040%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.41	−0.018%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.45	−0.013%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.066%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.45	−0.013%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	+0.018%	$387K	$982K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.68	+0.017%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.03	+0.060%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.38	−0.022%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERPlong	+0.0104%	1h	786.56	long leg	$378K	$110K	10x
Kalshi KXBNBPERPshort	+0.0134%	8h	786.80	+0.031%	$170K	$2.7M	4.8x
Phoenix BNB	+0.0135%	1h	786.26	−0.038%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0184%	8h	787.22	+0.085%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.94	+0.050%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.63	+0.009%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0228%	8h	786.80	+0.031%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	786.90	+0.044%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.067%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.21	−0.044%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.60	+0.005%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.20	−0.045%	$67K	$39K	12x	as long as short