Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h +0.002%

Price spread now: Aevo against Kalshi−0.031%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Kalshi Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.031%, 7d avg −0.010%

Together, before fees+0.150%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.022% cheaper against Kalshi than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.172%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	786.80	0.0134	pay 0.0134% / 8h	5h 33m	$170K	$2.7M	4.8x
Short	Aevo BNB-PERP	786.56	0.0104	get 0.0013% / 1h	33m 01s	$378K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Kalshi. 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 KalshibpFee AevobpOrdersPrice spread, now −0.031%Rate

Funding earned: −$6.38
Price spread: −0.031% → −0.010%: −$2.15
Slippage, 4 orders: −$15.4
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$49.93
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Kalshi: live order book, just now; Aevo: live order book, 11 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 Kalshi live order book, just now	2.54 bp	7.5 bp −$8	13.2 bp −$132	doesn't fit	doesn't fit
Sell Aevo live order book, 11 min ago	3.18 bp	12.4 bp −$12	18.0 bp −$180	22.1 bp −$2,214	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 −0.0170% / S +0.0337%	1h	785.92	−0.112%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.27	−0.067%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.56	−0.031%	$848K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.58	−0.028%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.325%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0050%	8h	787.20	+0.051%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0052%	8h	786.78	−0.003%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.80	+0.127%	$81.1M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	787.27	+0.060%	$490.5M	$814.4M	75x	as long as short
dYdX BNB-USD	+0.0071%	1h	785.68	−0.143%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0077%	8h	787.29	+0.062%	$68.8M	$50.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.010%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.85	+0.007%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.75	−0.133%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.20	+0.051%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.33	−0.060%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	−0.038%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.038%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	−0.038%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.65	−0.019%	$37.3M	$59.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.37	−0.055%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.61	−0.024%	$76.1M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.14	+0.043%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.51	−0.164%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.54	−0.032%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.24	−0.071%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.41	−0.050%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.45	−0.044%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.098%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.45	−0.044%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	−0.013%	$387K	$982K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.68	−0.015%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.03	+0.029%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.38	−0.054%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERPshort	+0.0104%	1h	786.56	−0.031%	$378K	$110K	10x
Kalshi KXBNBPERPlong	+0.0134%	8h	786.80	long leg	$170K	$2.7M	4.8x
Phoenix BNB	+0.0135%	1h	786.26	−0.069%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0184%	8h	787.22	+0.053%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.94	+0.018%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.63	−0.022%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0228%	8h	786.80	0.000%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	786.90	+0.013%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.036%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.21	−0.075%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.60	−0.026%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.20	−0.076%	$67K	$39K	12x	as long as short