Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0235%/8h= −25.7% APRpaid last 24h −0.053%

Price spread now: Hotstuff against Kalshi−0.013%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Hotstuff

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: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	799.80	0.0155	pay 0.0155% / 8h	4h 00m	$90K	$2.9M	4.8x
Short	Hotstuff BNB-PERP	799.70	−0.0080	pay 0.0010% / 1h	0m 34s	$4K	$1K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$49.28
Price spread: −0.013% → 0.000%: −$1.25
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$65.53
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 3 min ago; Hotstuff: no order-book sample. 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 Kalshi live order book, 3 min ago	1.25 bp	11.3 bp −$11	15.7 bp −$157	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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	799.37	−0.054%	$47K	—	200x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	799.70	−0.013%	$4K	$1K	25x
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.42	−0.047%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.135%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.71	−0.011%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.38	−0.052%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	798.84	−0.120%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0030%	8h	799.50	−0.038%	—	$35.2M	—	as long as short
Bybit BNBUSDT	+0.0040%	8h	799.10	−0.088%	$138.7M	$76.9M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.140%	$602K	$985K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0077%	8h	799.93	+0.016%	$6.2M	$19.3M	200x	as long as short
Phemex BNBUSDT	+0.0092%	8h	800.10	+0.038%	$70.0M	$50.7M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.62	−0.023%	$2.8M	$4.1M	20x	as long as short
MEXC BNB_USDT	+0.0097%	8h	800.30	+0.063%	$83.2M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0097%	8h	799.79	−0.001%	$497.9M	$818.6M	75x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.95	−0.106%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.57	−0.029%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.20	−0.075%	$54.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.50	−0.038%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.15	−0.081%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.37	−0.054%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.16	−0.080%	$78.9M	$27.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.62	−0.022%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.34	−0.058%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.20	−0.075%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.46	−0.043%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.65	−0.018%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.77	−0.003%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.70	−0.013%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.44	−0.045%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.00	+0.025%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.99	−0.101%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.64	−0.020%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.179%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.11	−0.086%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERPlong	+0.0155%	8h	799.80	long leg	$90K	$2.9M	4.8x
Bulk BNB-USD	+0.0191%	1h	798.83	−0.122%	$649K	$17K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.02	+0.028%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0217%	8h	800.12	+0.040%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0250%	1h	800.25	+0.056%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.46	−0.043%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.91	+0.014%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.661%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0312%	1h	799.90	+0.013%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0327%	1h	799.59	−0.026%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.91	−0.111%	$6K	$3K	40x	as long as short