Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Kalshi against edgeX−0.085%79s7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as 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−$320.325% of the position

Long on edgeX 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)+0.106%+$11 · spread now −0.085%, 7d avg −0.052%

Together, before fees−0.075%+ Points / potential airdropedgeX: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.033% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.052%). Swap the legs. The two prices were read 79 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	edgeX BNBUSDC	802.78	0.0100	pay 0.0050% / 4h	1h 28m	$4.2M	$77.4M	30x
Short	Kalshi KXBNBPERP	802.10	0	get 0.0000% / 8h	5h 28m	$158K	$2.8M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against edgeX. 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 edgeXbpFee KalshibpOrdersPrice spread, now −0.085%Rate

Funding earned: −$21
Price spread: −0.085% → −0.052%: −$3.33
Slippage, 4 orders: −$13.46
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$56.79
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 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 edgeX live order book, 1 min ago	2.49 bp	7.0 bp −$7	7.0 bp −$70	11.1 bp −$1,106	doesn't fit
Sell Kalshi live order book, 5 min ago	1.87 bp	6.9 bp −$7	13.1 bp −$131	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 −0.0201% / S +0.0372%	1h	801.11	−0.208%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.26	−0.065%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.73	−0.131%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	802.10	−0.085%	$158K	$2.8M	4.8x
StandX BNB-USD	0.0000%	1h	802.32	−0.058%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.17	−0.201%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	−0.241%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0067%	8h	801.31	−0.183%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	800.40	−0.297%	$139.5M	$83.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.12	−0.207%	$2.8M	$4.2M	20x	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	+0.0096%	1h	801.17	−0.201%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	801.72	−0.132%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.61	−0.146%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.96	−0.103%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.50	−0.284%	$54.8M	$117.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.10	−0.085%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	801.15	−0.203%	$35.8M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.85	−0.241%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.39	−0.298%	$80.9M	$26.9M	75x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	802.78	long leg	$4.2M	$77.4M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	−0.040%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.60	−0.147%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.94	−0.230%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.15	−0.203%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.61	−0.147%	$12K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	801.25	−0.191%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.97	−0.226%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.40	−0.048%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.58	−0.275%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.31	−0.184%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.80	−0.122%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.38	−0.175%	$503.7M	$829.7M	75x	as long as short
SoDEX BNB-USD	+0.0125%	1h	800.90	−0.235%	$394K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0126%	8h	801.34	−0.180%	$70.0M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	801.68	−0.137%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	801.59	−0.149%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0183%	1h	801.39	−0.173%	$162K	$62K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	800.77	−0.250%	$2.6M	$984K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	802.15	−0.079%	$18.5M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0280%	1h	802.37	−0.051%	$51.9M	$22.3M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.287%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	802.04	−0.092%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	801.04	−0.218%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	802.55	−0.029%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	−0.149%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0665%	1h	802.58	−0.025%	$3.0M	$5.5M	40x	as long as short