Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: Kalshi against ApeX Omni−0.002%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now −0.002%, 7d avg −0.048%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.046% dearer against ApeX Omni than usual: you sell high and buy low (spread −0.002% now, against its 7-day average of −0.048%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	805.72	0.0100	pay 0.0013% / 1h	8m 52s	$159K	$436K	50x
Short	Kalshi KXBNBPERP	805.70	0	get 0.0000% / 8h	6h 08m	$114K	$2.5M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now −0.002%Rate

Funding earned: −$21
Price spread: −0.002% → −0.048%: $4.56
Slippage, 4 orders: −$19.9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$56.34
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 14 min ago; Kalshi: live order book, 5 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 ApeX Omni live order book, 14 min ago	3.47 bp	11.5 bp −$12	32.9 bp −$329	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	4.34 bp	9.3 bp −$9	15.1 bp −$151	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 −0.0195% / S +0.0371%	1h	804.66	−0.132%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.47	−0.031%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.45	−0.034%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	805.70	−0.002%	$114K	$2.5M	4.8x
StandX BNB-USD	0.0000%	1h	805.12	−0.074%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.72	−0.124%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	805.06	−0.082%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	−0.135%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0055%	8h	804.79	−0.115%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0080%	8h	804.24	−0.184%	$139.6M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	−0.071%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.86	−0.107%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	805.26	−0.057%	$6.4M	$18.8M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.45	−0.158%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.95	−0.096%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.40	−0.164%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.10	−0.077%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.55	−0.145%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.50	−0.151%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.17	−0.192%	$78.9M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.53	−0.024%	$4.2M	$76.3M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	805.72	long leg	$159K	$436K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	804.60	−0.139%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.93	−0.098%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.07	−0.081%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.29	−0.053%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.45	−0.034%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.90	−0.102%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.70	−0.003%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.37	−0.168%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.16	−0.070%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.40	−0.040%	$84.5M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	805.26	−0.058%	$520.2M	$805.9M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	−0.012%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0135%	8h	805.31	−0.051%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0195%	1h	805.00	−0.089%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0207%	1h	805.18	−0.067%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.01	−0.088%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.33	−0.048%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0243%	1h	804.86	−0.107%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.29	−0.054%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	−0.043%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.42	−0.161%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.54	−0.022%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.103%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0650%	1h	805.86	+0.017%	$3.0M	$5.5M	40x	as long as short