Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.001%

Price spread now: edgeX against Kalshi+0.102%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Kalshi Short on edgeX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.055%−$6 · spread now +0.102%, 7d avg +0.025%

Together, before fees+0.108%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.077% dearer against Kalshi than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of +0.025%): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 19 days. 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	786.20	0.0114	pay 0.0114% / 8h	4h 38m	$170K	$2.7M	4.8x
Short	edgeX BNBUSDC	787.00	0.0100	get 0.0050% / 4h	38m 33s	$4.1M	$76.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$2.9
Price spread: +0.102% → +0.025%: $7.66
Slippage, 4 orders: −$12.61
Fee Kalshi: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$26.85
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; edgeX: live order book, 6 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, 5 min ago	1.91 bp	6.9 bp −$7	12.1 bp −$121	doesn't fit	doesn't fit
Sell edgeX live order book, 6 min ago	2.54 bp	7.0 bp −$7	7.0 bp −$70	10.8 bp −$1,075	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	785.78	−0.053%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.13	−0.009%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	785.91	−0.037%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	786.57	+0.047%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.72	−0.062%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.403%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	786.10	−0.013%	$6.0M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0044%	8h	785.71	−0.062%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0054%	8h	786.90	+0.089%	$80.9M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0055%	8h	786.07	−0.017%	$488.7M	$822.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0061%	1h	785.74	−0.058%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0080%	8h	786.12	−0.010%	$68.7M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.88	−0.040%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	786.90	+0.089%	$168K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.60	−0.076%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.42	+0.028%	$51.4M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.95	−0.032%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.50	−0.089%	$138.2M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.30	−0.114%	$53.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.90	−0.038%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.65	−0.070%	$38.3M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.36	−0.107%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.28	−0.117%	$76.3M	$31.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.12	−0.010%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.30	+0.012%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	787.00	+0.102%	$4.1M	$76.1M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	786.94	+0.094%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.42	−0.099%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.87	−0.042%	$264K	$421K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.36	+0.020%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.05	−0.020%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.00	−0.025%	$386K	$973K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.00	−0.025%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.20	0.000%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.29	−0.116%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.81	−0.050%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	786.02	−0.023%	$556K	$1.9M	50x	as long as short
Kalshi KXBNBPERPlong	+0.0114%	8h	786.20	long leg	$170K	$2.7M	4.8x
BloFin BNB-USDT	+0.0175%	8h	786.50	+0.038%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.25	+0.006%	$1.5M	$145K	25x	as long as short
Bulk BNB-USD	+0.0201%	1h	786.50	+0.038%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	787.31	+0.141%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	786.16	−0.005%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	785.25	−0.121%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.92	−0.035%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	786.34	+0.018%	$67K	$39K	12x	as long as short