BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0134%/8h= +14.6% APRnext payment +$1.34 per $10,000 · paid last 24h −0.009%

Price spread now: Kalshi against Binance+0.121%51s7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.208% of the position

Long on Binance Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 7 days−0.095%−$10 · spread now +0.121%, 7d avg −0.004%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kalshi is 0.125% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.004%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BTCUSDT	86,471.4	0.0077	pay 0.0077% / 8h	7h 57m	$9.44B	$24.53B	150x
Short	Kalshi KXBTCPERP	86,576	0.0210	get 0.0210% / 8h	3h 57m	$10.0M	$756.5M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Binance. 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 BinancebpFee KalshibpOrdersPrice spread, now +0.121%Rate

Funding earned: $28.08
Price spread: +0.121% → −0.004%: $12.53
Slippage, 4 orders: −$0.77
Fee Binance: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $19.85
Costs to cover: 0.208%
Break-even: 2.1 days

Slippage from Binance: 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 Binance live order book, 2 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.7 bp −$569	7.2 bp −$3,613
Sell Kalshi live order book, 2 min ago	0.23 bp	5.3 bp −$5	6.6 bp −$66	8.1 bp −$812	13.9 bp −$6,938

BTC on 56 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
Bluefin BTC-PERP	−0.1481%	1h	86,487.5	+0.019%	$140K	$664K	40x	as long as short
Phoenix BTC	−0.0118%	1h	86,544	+0.084%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,487	+0.018%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,492.8	+0.025%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,492	+0.024%	$413K	$22.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,494.6	+0.027%	$37.0M	—	200x	as long as short
dYdX BTC-USD	+0.0013%	1h	86,503	+0.037%	$16.9M	$21.2M	50x	as long as short
Aster BTCUSDT	+0.0015%	8h	86,480.6	+0.011%	$501.6M	$1.15B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.167%	$333K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0028%	8h	86,472	+0.001%	$834.5M	$727.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BTCUSDT	+0.0039%	8h	86,472.4	+0.001%	$5.27B	$9.77B	150x	as long as short
Reya BTCRUSDPERP	+0.0039%	1h	86,467.9	−0.004%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0046%	8h	86,478.2	+0.008%	—	$1.59B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,506	+0.040%	$8.4M	$42.8M	25x	as long as short
Bitget BTCUSDT	+0.0058%	8h	86,445.7	−0.030%	$2.97B	$5.11B	150x	as long as short
SoDEX BTC-USD	+0.0065%	1h	86,520	+0.056%	$60.5M	$338.0M	40x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,467.4	−0.005%	$5.14B	$5.64B	500x	as long as short
Binance BTCUSDTlong	+0.0077%	8h	86,471.4	long leg	$9.44B	$24.53B	150x
Aevo BTC-PERP	+0.0080%	1h	86,468.9	−0.003%	$2.5M	$1.3M	20x	as long as short
Deribit BTC-PERPETUAL	+0.0092%	1h	86,559.2	+0.102%	$909.6M	$1.50B	50x	as long as short
Lighter BTC	+0.0096%	1h	86,499.8	+0.033%	$170.3M	$979.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,520.1	+0.056%	$23.7M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,473	+0.002%	$8.4M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,476	+0.005%	$201K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,515.6	+0.051%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,504.4	+0.038%	$22.1M	$233.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,551	+0.092%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,522.8	+0.059%	$40.8M	$540.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,460.6	−0.012%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,511	+0.046%	$3.9M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,525	+0.062%	$7.3M	$96.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,523.6	+0.060%	$572.9M	$12.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,474	+0.003%	$5.87B	$10.42B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,527.3	+0.065%	$37.8M	$156.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,554.4	+0.096%	$157.4M	$568.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,572.4	+0.117%	$279.6M	$946.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,585.4	+0.132%	$217.4M	$171.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,575	+0.120%	$141.8M	$323.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,558	+0.100%	$30.7M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,533.5	+0.072%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,467	−0.005%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,472.4	+0.001%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,442.9	−0.033%	$2.5M	$9.3M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,480.6	+0.011%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,529.9	+0.068%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,516.5	+0.052%	$2.30B	$969.9M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,533.9	+0.072%	$152.8M	$479.5M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,473	+0.002%	$45.8M	$224.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,533.3	+0.072%	—	$100.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,563	+0.106%	$132.2M	$5.63B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,550.3	+0.091%	$193.4M	$951.1M	100x	as long as short
Aftermath Perps BTCUSD	+0.0163%	1h	86,556.4	+0.098%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,563.5	+0.106%	$716K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,561	+0.104%	$415.4M	$659.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0224%	1h	86,488	+0.019%	$14.9M	—	200x	as long as short
Kalshi KXBTCPERPshort	+0.0210%	8h	86,576	+0.121%	$10.0M	$756.5M	6.4x