Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0175%/8h= −19.1% APRpaid last 24h −0.014%

Price spread now: Kalshi against RISEx+0.150%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on RISEx Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.184%−$18 on $10k

Price spread, last 7 days−0.230%−$23 · spread now +0.150%, 7d avg +0.022%

Together, before fees−0.414%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.129% dearer against RISEx than usual: you sell high and buy low (spread +0.150% now, against its 7-day average of +0.022%): +$13 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BNB/USDC	790.71	0.0361	pay 0.0045% / 1h	6m 50s	$1.1M	$979K	20x
Short	Kalshi KXBNBPERP	791.90	0.0186	get 0.0186% / 8h	1h 06m	$104K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against RISEx. 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 RISExbpFee KalshibpOrdersPrice spread, now +0.150%Rate

Funding earned: −$36.71
Price spread: +0.150% → +0.022%: $12.87
Slippage, 4 orders: −$6.97
Fee RISEx: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$46.81
Costs to cover: 0.230%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Kalshi: live order book, 2 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 RISEx live order book, 2 min ago	0.38 bp	3.4 bp −$3	8.3 bp −$83	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	2.53 bp	8.7 bp −$9	15.5 bp −$155	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 −0.0167% / S +0.0335%	1h	790.27	−0.056%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.76	+0.133%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.16	+0.183%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.35	−0.045%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.818%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.68	+0.249%	$592K	$1.9M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	790.56	−0.019%	$6.2M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0058%	8h	790.81	+0.012%	$69.3M	$50.3M	50x	as long as short
BingX BNB-USDC	+0.0060%	8h	790.58	−0.017%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0071%	8h	790.80	+0.011%	$80.3M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0071%	8h	790.52	−0.024%	$493.7M	$792.1M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.95	−0.097%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.16	−0.070%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.53	−0.023%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.25	−0.058%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.52	−0.024%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.10	+0.050%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.68	−0.130%	$139.0M	$76.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.70	−0.128%	$53.4M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.70	−0.001%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.90	−0.103%	$35.4M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.79	−0.117%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.53	−0.149%	$76.6M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.50	−0.027%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.10	+0.049%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.80	+0.138%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.37	+0.083%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.29	−0.053%	$133K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.64	−0.009%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.79	+0.010%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.30	−0.052%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.10	−0.077%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	791.73	+0.129%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.49	−0.154%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.48	−0.029%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.64	+0.117%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0141%	8h	791.87	+0.147%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERPshort	+0.0186%	8h	791.90	+0.150%	$104K	$2.7M	4.8x
dYdX BNB-USD	+0.0187%	1h	791.19	+0.061%	$160K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0191%	8h	791.02	+0.039%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	790.87	+0.020%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.90	+0.023%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.94	−0.097%	$6K	$3K	40x	as long as short
RISEx BNB/USDClong	+0.0361%	1h	790.71	long leg	$1.1M	$979K	20x
Bulk BNB-USD	+0.0366%	1h	792.18	+0.186%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0576%	1h	791.63	+0.117%	$68K	$38K	12x	as long as short