Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0193%/8h= +21.2% APRpaid last 24h +0.053%

Price spread now: Kalshi against Hotstuff−0.007%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	803.26	−0.0080	get 0.0010% / 1h	52m 02s	$4K	$1K	25x
Short	Kalshi KXBNBPERP	803.20	0.0113	get 0.0113% / 8h	4h 52m	$109K	$2.9M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hotstuff. 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 HotstuffbpFee KalshibpOrdersPrice spread, now −0.007%Rate

Funding earned: $40.62
Price spread: −0.007% → 0.000%: −$0.75
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $24.88
Costs to cover: 0.150%
Break-even: 2.7 days

Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 1 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 1 min ago	1.87 bp	6.9 bp −$7	11.1 bp −$111	doesn't fit	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	802.37	−0.111%	$48K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	803.26	long leg	$4K	$1K	25x
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.34	−0.115%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.91	−0.044%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.082%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.30	−0.119%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.201%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0053%	8h	802.67	−0.073%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.24	−0.127%	$139.4M	$78.7M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.316%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	802.77	−0.062%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.10	−0.144%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.85	−0.051%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.095%	$54.7M	$113.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	−0.032%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.30	−0.120%	$35.8M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.34	−0.115%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.36	−0.112%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.03	−0.029%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.61	−0.081%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.36	−0.112%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.37	−0.111%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.55	−0.089%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.05	−0.026%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.58	−0.084%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.32	+0.007%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	802.25	−0.126%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.80	−0.057%	$386K	$40K	10x	as long as short
Aster BNBUSDT	+0.0104%	8h	802.95	−0.039%	$6.3M	$19.0M	200x	as long as short
Kalshi KXBNBPERPshort	+0.0113%	8h	803.20	−0.007%	$109K	$2.9M	4.8x
Phemex BNBUSDT	+0.0117%	8h	803.13	−0.016%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.60	+0.042%	$83.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.23	−0.004%	$502.4M	$818.4M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.21	−0.006%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0204%	1h	802.60	−0.082%	$395K	$1.0M	10x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.74	+0.060%	$18.2M	$2.6M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.88	−0.048%	$71K	$49K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.73	−0.066%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0289%	1h	803.23	−0.004%	$52.0M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.263%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	802.84	−0.053%	$1.6M	$165K	25x	as long as short
Backpack BNB_USDC_PERP	+0.0302%	1h	803.20	−0.007%	$2.7M	$5.7M	40x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.228%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.98	−0.160%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0424%	1h	803.18	−0.010%	$28K	$2K	10x	as long as short
dYdX BNB-USD	+0.0496%	1h	802.89	−0.046%	$162K	$62K	10x	as long as short