Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.001%

Price spread now: ApeX Omni against Kalshi−0.015%78s7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$380.382% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.015%, 7d avg +0.042%

Together, before fees+0.202%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and ApeX Omni is 0.057% cheaper against Kalshi than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.164%, so the current rate has only just turned against you. The two prices were read 78 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	Kalshi KXBNBPERP	786.20	0.0112	pay 0.0112% / 8h	3h 37m	$159K	$2.6M	4.8x
Short	ApeX Omni BNBUSDT	786.08	0.0100	get 0.0013% / 1h	37m 59s	$158K	$440K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.015%Rate

Funding earned: −$2.46
Price spread: −0.015% → +0.042%: −$5.7
Slippage, 4 orders: −$18.18
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$46.34
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Kalshi: live order book, just now; ApeX Omni: live order book, 60 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	3.81 bp	8.8 bp −$9	15.2 bp −$152	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 60 min ago	3.44 bp	11.5 bp −$12	36.0 bp −$360	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 −0.0168% / S +0.0337%	1h	785.93	−0.034%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.77	−0.055%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.93	−0.035%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.60	+0.051%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.37	+0.022%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.03	−0.022%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0024%	8h	786.39	+0.024%	$6.0M	$18.4M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.403%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0035%	8h	786.04	−0.020%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0040%	8h	786.52	+0.041%	$489.0M	$812.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0040%	8h	787.60	+0.178%	$82.4M	$12.2M	200x	as long as short
Lighter BNB	+0.0096%	1h	785.99	−0.026%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.55	−0.083%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.57	+0.047%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.83	−0.047%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.90	−0.038%	$138.4M	$73.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.80	−0.051%	$53.4M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.20	0.000%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.95	−0.032%	$39.3M	$55.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.62	−0.074%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.62	−0.074%	$75.4M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.43	+0.029%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.22	−0.125%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.07	−0.017%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDTshort	+0.0100%	1h	786.08	−0.015%	$158K	$440K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	785.85	−0.045%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.88	−0.041%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.66	−0.069%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.45	+0.032%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.00	−0.025%	$386K	$944K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.13	−0.009%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.12	−0.010%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.60	−0.077%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.77	−0.054%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERPlong	+0.0112%	8h	786.20	long leg	$159K	$2.6M	4.8x
dYdX BNB-USD	+0.0119%	1h	785.69	−0.064%	$157K	$64K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	+0.050%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.53	+0.042%	$158K	$38K	10x	as long as short
Phemex BNBUSDT	+0.0141%	8h	786.52	+0.041%	$68.5M	$51.2M	50x	as long as short
BloFin BNB-USDT	+0.0160%	8h	786.05	−0.019%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.30	+0.012%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	785.97	−0.029%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	786.56	+0.046%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.61	−0.075%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	786.36	+0.020%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	785.88	−0.040%	$67K	$39K	12x	as long as short