BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0073%/8h= −8.0% APRnext payment −$0.73 per $10,000 · paid last 24h +0.008%

Price spread now: Kalshi against Bybit+0.127%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days−0.090%−$9 · spread now +0.127%, 7d avg +0.056%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.071% dearer against Bybit than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of +0.056%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 7 days (−0.062% in total) that is about 8.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	786.40	0.0073	pay 0.0073% / 8h	6h 20m	$138.5M	$68.5M	75x
Short	Kalshi KXBNBPERP	787.40	0	get 0.0000% / 8h	2h 20m	$158K	$2.5M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now +0.127%Rate

Funding earned: −$15.3
Price spread: +0.127% → +0.056%: $7.13
Slippage, 4 orders: −$10.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$40.03
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 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 Bybit live order book, 2 min ago	0.63 bp	7.3 bp −$7	9.6 bp −$96	25.3 bp −$2,530	168.1 bp −$84.0K
Sell Kalshi live order book, 1 min ago	1.90 bp	10.0 bp −$10	14.1 bp −$141	doesn't fit	doesn't fit

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	786.68	+0.035%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.36	+0.122%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.25	+0.108%	$5.9M	$17.4M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.34	+0.120%	$3.0M	$26.4M	10x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	787.40	+0.127%	$158K	$2.5M	4.8x
StandX BNB-USD	0.0000%	1h	787.36	+0.122%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.88	+0.061%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0020%	8h	788.50	+0.267%	$83.3M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0020%	8h	787.28	+0.112%	$481.7M	$780.7M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.377%	$19K	$789K	30x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0035%	1h	786.63	+0.029%	$2.5M	$1.3M	50x	as long as short
Bybit BNBUSDTlong	+0.0073%	8h	786.40	long leg	$138.5M	$68.5M	75x
BloFin BNB-USDT	+0.0081%	8h	787.74	+0.170%	$17.6M	$2.2M	75x	as long as short
Phoenix BNB	+0.0094%	1h	787.39	+0.126%	$158K	$45K	10x	as long as short
Phemex BNBUSDT	+0.0096%	8h	787.39	+0.126%	$68.4M	$51.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.88	+0.061%	$2.7M	$3.4M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.69	+0.037%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.26	+0.110%	$51.8M	$17.0M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.93	+0.067%	$1.2M	$940K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	+0.013%	$53.4M	$104.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.10	+0.089%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.65	+0.032%	$40.7M	$55.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.52	+0.015%	$28.2M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.51	+0.014%	$75.5M	$32.3M	75x	as long as short
BingX BNB-USDC	+0.0100%	8h	787.00	+0.076%	—	$13.4M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.20	+0.102%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.49	+0.011%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.43	+0.131%	$4.1M	$75.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	+0.097%	$158K	$444K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.88	+0.061%	$130K	$911K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.79	+0.050%	$264K	$300K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.53	+0.143%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	+0.076%	$387K	$928K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.11	+0.090%	$1.5M	$158K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.95	+0.070%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.27	+0.110%	$78K	$337K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.29	−0.014%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.77	+0.047%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0136%	1h	786.42	+0.003%	$544K	$1.9M	50x	as long as short
Bulk BNB-USD	+0.0212%	1h	787.70	+0.166%	$638K	$0	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.51	+0.141%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	786.32	−0.011%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0344%	1h	787.17	+0.098%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0345%	1h	787.23	+0.105%	$1.1M	$910K	20x	as long as short
dYdX BNB-USD	+0.0375%	1h	786.57	+0.022%	$158K	$38K	10x	as long as short