BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0140%/8h= +15.4% APRnext payment +$1.40 per $10,000 · paid last 24h −0.002%

Price spread now: Kalshi against Bitget+0.048%7-day average −0.002% · 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−$18as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on Bitget Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.048%, 7d avg −0.002%

Together, before fees−0.007%−$1 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 0.050% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BTCUSDT	85,736	0.0070	pay 0.0070% / 8h	6h 26m	$2.94B	$5.09B	150x
Short	Kalshi KXBTCPERP	85,777	0.0210	get 0.0210% / 8h	2h 26m	$10.1M	$770.1M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bitget. 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 BitgetbpFee KalshibpOrdersPrice spread, now +0.048%Rate

Funding earned: $29.44
Price spread: +0.048% → −0.002%: $5.02
Slippage, 4 orders: −$0.65
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $11.81
Costs to cover: 0.227%
Break-even: 4.2 days

Slippage from Bitget: 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 Bitget live order book, 2 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	6.8 bp −$682	doesn't fit
Sell Kalshi live order book, 2 min ago	0.17 bp	5.3 bp −$5	6.7 bp −$67	7.6 bp −$757	12.2 bp −$6,085

BTC on 55 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
Phoenix BTC	−0.0144%	1h	85,735	−0.001%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,780	+0.051%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,738.5	+0.003%	$364K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,792.2	+0.066%	$514K	$20.7M	6.7x	as long as short
dYdX BTC-USD	+0.0003%	1h	85,751.5	+0.018%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,754.9	+0.022%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.052%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0033%	8h	85,734.9	−0.001%	$903.3M	$754.9M	125x	as long as short
Aster BTCUSDT	+0.0035%	8h	85,756	+0.023%	$516.6M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,774.5	+0.045%	$8.2M	$42.1M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0054%	8h	85,720.8	−0.018%	—	$16.2M	—	as long as short
Reya BTCRUSDPERP	+0.0057%	1h	85,744.4	+0.010%	$6.7M	$146.2M	40x	as long as short
Nado BTC-PERP	+0.0059%	1h	85,764.9	+0.034%	$22.6M	$228.5M	50x	as long as short
HTX BTC-USDT	+0.0064%	8h	85,731	−0.006%	$2.27B	$947.9M	200x	as long as short
Bitget BTCUSDTlong	+0.0070%	8h	85,736	long leg	$2.94B	$5.09B	150x
ApeX Omni BTCUSDT	+0.0070%	1h	85,752.5	+0.019%	$140.2M	$319.5M	100x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,732	−0.005%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0090%	8h	85,759.9	+0.028%	$5.07B	$5.72B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,764.6	+0.033%	$9.34B	$24.37B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,757.1	+0.025%	$170.4M	$989.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,754.5	+0.022%	$23.6M	$147.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,751	+0.017%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,725	−0.013%	$204K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,744.2	+0.010%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,798	+0.072%	$3.77B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,780.3	+0.052%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,780	+0.051%	$5.30B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,775.1	+0.046%	$2.54B	$12.36B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,770	+0.040%	$3.9M	$18.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,730.2	−0.007%	$7.3M	$98.2M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,735.8	0.000%	$5.62B	$10.53B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,724.9	−0.013%	$35.3M	$164.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,640.3	−0.112%	$156.2M	$559.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,721	−0.017%	$278.7M	$938.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,711.6	−0.028%	$215.2M	$165.9M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,731.4	−0.005%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,803.6	+0.079%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,749	+0.015%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,752	+0.019%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,740.6	+0.005%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,766.7	+0.036%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,740.2	+0.005%	$30.0M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,726.4	−0.011%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,736	0.000%	$60.0M	$337.4M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,730.6	−0.006%	$153.6M	$480.4M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	−0.173%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,696.4	−0.046%	$44.0M	$228.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,778.2	+0.049%	—	$101.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,765.4	+0.034%	$131.1M	$5.16B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,775.8	+0.046%	$696K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,748.7	+0.015%	$188.8M	$964.9M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0164%	1h	85,773.6	+0.044%	$894.5M	$1.53B	50x	as long as short
Aftermath Perps BTCUSD	+0.0165%	1h	85,708.8	−0.032%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0192%	1h	85,758.7	+0.026%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERPshort	+0.0210%	8h	85,777	+0.048%	$10.1M	$770.1M	6.4x