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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.002%
Price spread now: Kalshi against edgeX+0.032%79s7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$2as 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−$190.194% of the position
Long on edgeXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days+0.175%+$18 on $10k
Price spread, last 7 days+0.016%+$2 · spread now +0.032%, 7d avg +0.035%
Together, before fees+0.192%+ Points / potential airdropedgeX: Active · farm board+$19 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX BTCUSDC86,362.30.0100pay 0.0050% / 4h3h 38m$278.9M$950.0M100x
ShortKalshi KXBTCPERP86,3900.0210get 0.0210% / 8h3h 38m$10.0M$762.4M6.4x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against edgeX. 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
$23.13
Price spread: +0.032% → +0.035%
−$0.31
Slippage, 4 orders
−$0.42
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$3.4
Costs to cover
0.194%
Break-even
6.0 days
Slippage from edgeX: live order book, 1 min ago; Kalshi: live order book, 1 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 edgeX live order book, 1 min ago0.01 bp4.5 bp −$54.5 bp −$454.7 bp −$4725.7 bp −$2,868
Sell Kalshi live order book, 1 min ago0.06 bp5.2 bp −$56.4 bp −$647.5 bp −$74711.8 bp −$5,889

BTC on 56 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
Phoenix BTC−0.0129%1h86,448+0.099%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,388+0.030%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,357.4−0.006%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,391.1+0.033%$498K$21.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,373.9+0.013%$36.9M—200xas long as short
dYdX BTC-USD+0.0020%1h86,402.9+0.047%$16.9M$20.5M50xas long as short
Aster BTCUSDT+0.0021%8h86,376.1+0.016%$500.9M$1.14B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.294%$333K$26.9M52xas long as short
Deribit BTC-PERPETUAL+0.0027%1h86,391.3+0.034%$903.5M$1.51B50xas long as short
KuCoin XBTUSDTM+0.0037%8h86,360.5−0.002%$830.7M$722.2M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex BTCUSDT+0.0039%8h86,358.9−0.004%$153.6M$475.2M150xas long as short
Reya BTCRUSDPERP+0.0043%1h86,355.6−0.008%$6.7M$145.7M40xas long as short
BingX BTC-USDT+0.0049%8h86,379.4+0.020%—$1.58B—as long as short
RISEx BTC/USDC+0.0052%1h86,365.9+0.004%$8.3M$42.5M25xas long as short
Bitget BTCUSDT+0.0062%8h86,380.6+0.021%$2.97B$5.05B150xas long as short
MEXC BTC_USDT+0.0078%8h86,353.6−0.010%$5.13B$5.68B500xas long as short
Binance BTCUSDT+0.0078%8h86,370.5+0.010%$9.40B$24.35B150xas long as short
Aevo BTC-PERP+0.0080%1h86,333.4−0.033%$2.5M$1.7M20xas long as short
Lighter BTC+0.0096%1h86,368.6+0.007%$170.4M$984.8M50xas long as short
Lighter RH BTC+0.0096%1h86,384.3+0.026%$23.7M$149.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,355−0.008%$8.4M$52.1M100xas long as short
SoDEX BTC-USD+0.0098%1h86,354−0.010%$60.4M$338.2M40xas long as short
Katana Perps BTC-USD+0.0100%8h86,333−0.034%$202K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,378.2+0.018%$4.5M$8.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,364.6+0.003%$21.9M$229.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,449.7+0.101%$3.79B$4.99B40xas long as short
Pacifica BTC+0.0100%1h86,389.6+0.032%$40.7M$551.7M50xas long as short
Bybit BTCUSDT+0.0100%8h86,388.9+0.031%$5.25B$9.69B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,392.2+0.035%$2.56B$12.52B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,360−0.003%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h86,386.7+0.028%$7.2M$95.1M40xas long as short
Bulk BTC-USD+0.0100%1h86,348−0.017%$573.1M$19.8M40xas long as short
Gate BTC_USDT+0.0100%8h86,380.3+0.021%$5.81B$10.52B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,365.8+0.004%$37.5M$155.5M75xas long as short
Variational Omni BTC+0.0100%8h86,351.7−0.012%$158.4M$564.0M—as long as short
edgeX BTCUSDClong+0.0100%4h86,362.3long leg$278.9M$950.0M100x
GRVT BTC_USDT_Perp+0.0100%8h86,468.6+0.123%$217.0M$165.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,361.6−0.001%$141.6M$322.4M100xas long as short
StandX BTC-USD+0.0100%1h86,384.9+0.026%$30.7M$208.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,405.4+0.050%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,355−0.008%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,355.9−0.007%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,354.2−0.009%$2.5M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,388.2+0.030%$144K$667K40xas long as short
Derive BTC-PERP+0.0100%1h86,386.6+0.028%$30.5M$58.9M15xas long as short
SunX BTC-USDT+0.0100%8h86,362.20.000%$3.4M$5.2M100xas long as short
HTX BTC-USDT+0.0100%8h86,339.1−0.027%$2.29B$963.2M200xas long as short
Extended BTC-USD+0.0104%1h86,368.7+0.007%$45.9M$222.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,373.9+0.013%—$98.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,395.4+0.038%$132.0M$5.45B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,385.2+0.027%$192.1M$942.1M100xas long as short
Hibachi BTC/USDT-P+0.0160%1h86,428.6+0.077%$711K$8.0M30xas long as short
Aftermath Perps BTCUSD+0.0165%1h86,410.6+0.056%$77K$217K20xas long as short
BloFin BTC-USDT+0.0198%8h86,346.7−0.018%$415.9M$648.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0203% / S −0.0217%1h86,368.9+0.008%$14.5M—200xas long as short
Kalshi KXBTCPERPshort+0.0210%8h86,390+0.032%$10.0M$762.4M6.4x