Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0082%/8h= +8.9% APRpaid last 24h −0.001%

Price spread now: Kalshi against Polymarket Perps+0.043%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Polymarket Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now +0.043%, 7d avg +0.022%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.021% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.022%. Mind the row above: over the last 7 days funding on this pair cost −0.158%, 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	Polymarket Perps BNB-USD	789.76	0.0100	pay 0.0013% / 1h	44m 05s	$133K	$950K	10x
Short	Kalshi KXBNBPERP	790.10	0.0182	get 0.0182% / 8h	44m 05s	$124K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Polymarket Perps. 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 Polymarket PerpsbpFee KalshibpOrdersPrice spread, now +0.043%Rate

Funding earned: $17.16
Price spread: +0.043% → +0.022%: $2.13
Slippage, 4 orders: −$17.51
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$16.22
Costs to cover: 0.355%
Break-even: 13.6 days

Slippage from Polymarket Perps: live order book, 14 min ago; Kalshi: live order book, 4 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 Polymarket Perps live order book, 14 min ago	1.58 bp	5.9 bp −$6	6.0 bp −$60	23.4 bp −$2,339	doesn't fit
Sell Kalshi live order book, 4 min ago	4.43 bp	13.1 bp −$13	18.6 bp −$186	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 −0.0184% / S +0.0349%	1h	789.94	+0.023%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.65	−0.014%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.01	+0.032%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.99	+0.030%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.941%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	790.56	+0.101%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	789.35	−0.052%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.039%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	791.10	+0.170%	$80.3M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	790.54	+0.099%	$493.3M	$789.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	790.69	+0.118%	$69.2M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.19	+0.055%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.12	+0.046%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.00	−0.096%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.60	+0.106%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.81	+0.006%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.80	+0.005%	$138.9M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.70	−0.008%	$53.4M	$111.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.00	+0.030%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.95	+0.024%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.90	+0.018%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.61	−0.019%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.53	+0.097%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.50	−0.159%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.10	−0.084%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.58	−0.023%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USDlong	+0.0100%	1h	789.76	long leg	$133K	$950K	10x
Derive BNB-PERP	+0.0100%	1h	790.18	+0.054%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.63	+0.110%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.20	+0.056%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.91	+0.019%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.26	+0.063%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.44	−0.040%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.12	+0.046%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.31	−0.057%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.05	−0.090%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0134%	8h	789.57	−0.024%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERPshort	+0.0182%	8h	790.10	+0.043%	$124K	$2.7M	4.8x
BloFin BNB-USDT	+0.0187%	8h	789.81	+0.006%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	790.45	+0.087%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.88	+0.015%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0272%	1h	789.78	+0.003%	$640K	$9K	10x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	789.59	−0.022%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	790.55	+0.100%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0461%	1h	790.17	+0.053%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	789.22	−0.068%	$67K	$38K	12x	as long as short