Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0377%/8h= −41.3% APRpaid last 24h −0.077%

Price spread now: Kalshi against dYdX+0.054%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.584%−$58 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.054%, 7d avg +0.037%

Together, before fees−0.682%−$68 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	786.57	0.0377	pay 0.0047% / 1h	19m 15s	$158K	$38K	10x
Short	Kalshi KXBNBPERP	787.00	0	get 0.0000% / 8h	2h 19m	$158K	$2.5M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now +0.054%Rate

Funding earned: −$79.26
Price spread: +0.054% → +0.037%: $1.73
Slippage, 4 orders: −$39.6
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$137.13
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from dYdX: live order book, 32 min ago; Kalshi: 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 dYdX live order book, 32 min ago	12.52 bp	17.5 bp −$18	23.2 bp −$232	31.8 bp −$3,178	79.1 bp −$39.5K
Sell Kalshi live order book, 2 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	786.58	+0.001%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.15	+0.074%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.26	+0.087%	$5.9M	$17.4M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.34	+0.098%	$3.0M	$26.4M	10x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	787.00	+0.054%	$158K	$2.5M	4.8x
StandX BNB-USD	0.0000%	1h	786.95	+0.048%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.58	+0.001%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0020%	8h	788.40	+0.232%	$83.3M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0020%	8h	787.24	+0.085%	$481.7M	$779.7M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.354%	$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	786.56	−0.001%	$2.5M	$1.3M	50x	as long as short
Bybit BNBUSDT	+0.0073%	8h	786.40	−0.022%	$138.5M	$68.6M	75x	as long as short
BloFin BNB-USDT	+0.0080%	8h	787.36	+0.100%	$17.6M	$2.2M	75x	as long as short
Phoenix BNB	+0.0094%	1h	787.39	+0.104%	$158K	$45K	10x	as long as short
Lighter BNB	+0.0096%	1h	786.81	+0.030%	$2.7M	$3.4M	20x	as long as short
Phemex BNBUSDT	+0.0097%	8h	787.29	+0.091%	$68.4M	$51.2M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.50	−0.009%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.23	+0.084%	$51.8M	$17.0M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.85	+0.035%	$1.2M	$933K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.022%	$53.4M	$104.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.00	+0.054%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	−0.003%	$40.7M	$55.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.42	−0.019%	$28.2M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.39	−0.023%	$75.5M	$32.3M	75x	as long as short
BingX BNB-USDC	+0.0100%	8h	786.95	+0.048%	—	$13.4M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.10	+0.067%	$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	787.61	+0.132%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.82	+0.159%	$159K	$445K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.83	+0.033%	$130K	$911K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.66	+0.011%	$264K	$299K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.34	+0.097%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.80	+0.029%	$387K	$928K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.95	+0.049%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.12	+0.070%	$78K	$337K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.11	−0.059%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.66	+0.011%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0136%	1h	786.42	−0.019%	$544K	$1.9M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.98	+0.052%	$1.5M	$158K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	787.70	+0.144%	$638K	$0	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.35	+0.099%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	786.32	−0.033%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0345%	1h	787.23	+0.083%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0352%	1h	786.97	+0.050%	$67K	$37K	12x	as long as short
dYdX BNB-USDlong	+0.0377%	1h	786.57	long leg	$158K	$38K	10x