Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.001%

Price spread now: Kalshi against Pacifica−0.085%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 7 days+0.069%+$7 · spread now −0.085%, 7d avg −0.020%

Together, before fees−0.102%+ Points / potential airdropPacifica: Active · farm board−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.065% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of −0.020%). If the spread goes back, that is −$6 on $10k: about 4.3 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.171%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BNB	786.87	0.0100	pay 0.0013% / 1h	20m 22s	$1.2M	$933K	20x
Short	Kalshi KXBNBPERP	786.20	0.0150	get 0.0150% / 8h	6h 20m	$161K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now −0.085%Rate

Funding earned: $10.54
Price spread: −0.085% → −0.020%: −$6.48
Slippage, 4 orders: −$13.09
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$27.03
Costs to cover: 0.311%
Break-even: 25.0 days

Slippage from Pacifica: live order book, 4 min ago; Kalshi: live order book, 3 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 Pacifica live order book, 4 min ago	1.59 bp	6.9 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	3.82 bp	8.8 bp −$9	14.5 bp −$145	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 −0.0192% / S +0.0356%	1h	786.45	−0.053%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.02	+0.019%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.09	+0.028%	$849K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.53	−0.042%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.316%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	787.04	+0.022%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0043%	8h	786.78	−0.011%	—	$22.2M	—	as long as short
Phemex BNBUSDT	+0.0053%	8h	786.21	−0.084%	$68.8M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0059%	8h	787.50	+0.080%	$80.5M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0059%	8h	787.30	+0.055%	$490.6M	$812.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	785.48	−0.177%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.62	−0.286%	$567K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.66	−0.026%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.66	−0.026%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	−0.066%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.08	+0.027%	$51.5M	$17.6M	10x	as long as short
Pacifica BNBlong	+0.0100%	1h	786.87	long leg	$1.2M	$933K	20x
Bybit BNBUSDT	+0.0100%	8h	786.58	−0.037%	$138.2M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.60	−0.034%	$53.4M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−0.009%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−0.034%	$36.6M	$59.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.19	−0.086%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.26	−0.077%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.97	−0.114%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.134%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.00	−0.237%	$4.1M	$75.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.20	−0.212%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.36	−0.065%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.95	−0.117%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.85	−0.003%	$13K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.91	−0.122%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.95	+0.011%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.23	−0.081%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.62	−0.159%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	−0.068%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0116%	1h	785.70	−0.148%	$386K	$993K	10x	as long as short
Kalshi KXBNBPERPshort	+0.0150%	8h	786.20	−0.085%	$161K	$2.7M	4.8x
dYdX BNB-USD	+0.0162%	1h	786.37	−0.064%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0179%	8h	786.29	−0.073%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0211%	8h	785.17	−0.215%	$2.9M	$29.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.11	−0.096%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.22	+0.045%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.30	−0.072%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.187%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.93	+0.008%	$1.1M	$902K	20x	as long as short
Hibachi BNB/USDT-P	+0.0520%	1h	785.22	−0.210%	$67K	$39K	12x	as long as short