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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.008%
Price spread now: Kalshi against SoDEX+0.075%7-day average −0.008% · 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−$20as in the Price arb table
costs, in and out, $10k−$290.286% of the position
Long on SoDEXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.074%−$7 on $10k
Price spread, last 3 days (all we have)+0.095%+$10 · spread now +0.075%, 7d avg −0.008%
Together, before fees+0.021%+$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.082% dearer against SoDEX than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of −0.008%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 34 hours. At the pace of the last 3 days (−0.074% in total) that is about 3.4 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX BNB-USD804.700.0192pay 0.0024% / 1h1m 11s$396K$1.0M10x
ShortKalshi KXBNBPERP805.300get 0.0000% / 8h6h 01m$108K$2.5M4.8x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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

Funding earned
−$40.24
Price spread: +0.075% → −0.008%
$8.22
Slippage, 4 orders
−$10.56
Fee SoDEX: 4 bp × 2 orders
−$8
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$60.58
Costs to cover
0.286%
Break-even
never at this rate
Slippage from SoDEX: live order book, 3 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
LegHalf-spread$10k$100k$1M$5M
Buy SoDEX live order book, 3 min ago0.62 bp5.2 bp −$59.2 bp −$9278.4 bp −$7,840doesn't fit
Sell Kalshi live order book, 2 min ago3.72 bp8.7 bp −$915.6 bp −$156doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h804.61−0.011%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h805.02+0.040%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h804.57−0.016%$3.0M$29.5M10xas long as short
Kalshi KXBNBPERPshort0.0000%8h805.30+0.075%$108K$2.5M4.8x
StandX BNB-USD0.0000%1h804.74+0.005%$870K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h804.62−0.010%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h804.69−0.001%$2.5M$928K50xas long as short
Variational Omni BNB+0.0048%8h803.61−0.135%$4.1M$5.3M—as long as short
BingX BNB-USDT+0.0056%8h804.66−0.005%—$34.5M—as long as short
Bybit BNBUSDT+0.0079%8h804.21−0.061%$139.6M$81.7M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.54−0.020%$607K$880K50xas long as short
Lighter BNB+0.0096%1h804.88+0.023%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h804.35−0.043%$1.5M$2.8M20xas long as short
Pacifica BNB+0.0100%1h804.83+0.016%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h804.50−0.025%$55.2M$116.1M50xas long as short
Arcus BNB-USD+0.0100%1h804.90+0.025%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h804.55−0.019%$36.1M$59.2M75xas long as short
KuCoin BNBUSDTM+0.0100%8h804.50−0.025%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h804.26−0.055%$78.9M$24.8M75xas long as short
edgeX BNBUSDC+0.0100%4h805.31+0.075%$4.2M$76.5M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.700.000%$159K$436K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h804.56−0.017%$116K$873K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h804.69−0.001%$389K$592K50xas long as short
Derive BNB-PERP+0.0100%1h804.91+0.026%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h805.33+0.079%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h805.19+0.061%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h804.71+0.001%$8.2M$7.5M75xas long as short
Aster BNBUSDT+0.0100%8h805.20+0.062%$6.4M$18.8M200xas long as short
Paradex BNB-USD-PERP+0.0100%8h805.34+0.079%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h804.27−0.053%$1.9M$5.9M50xas long as short
Aevo BNB-PERP+0.0104%1h804.86+0.020%$387K$40K10xas long as short
MEXC BNB_USDT+0.0115%8h805.50+0.099%$84.6M$13.7M200xas long as short
Binance BNBUSDT+0.0116%8h805.35+0.081%$520.1M$806.3M75xas long as short
Phoenix BNB+0.0125%1h804.66−0.005%$173K$35K10xas long as short
Phemex BNBUSDT+0.0138%8h805.22+0.065%$70.3M$51.9M50xas long as short
SoDEX BNB-USDlong+0.0192%1h804.70long leg$396K$1.0M10x
Hyperliquid BNB+0.0192%1h805.12+0.052%$51.8M$22.0M10xas long as short
RISEx BNB/USDC+0.0209%1h804.95+0.030%$1.1M$1.4M20xas long as short
dYdX BNB-USD+0.0228%1h804.85+0.018%$170K$55K10xas long as short
BloFin BNB-USDT+0.0236%8h805.36+0.082%$18.9M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0256%1h804.83+0.016%$71K$48K12xas long as short
Bulk BNB-USD+0.0273%1h805.26+0.070%$650K$14K10xas long as short
Reya BNBRUSDPERP+0.0334%1h804.30−0.050%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0344%1h805.58+0.109%$28K$1K10xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89+0.024%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0655%1h805.66+0.119%$3.0M$5.5M40xas long as short