BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0107%/8h= −11.7% APRnext payment −$1.07 per $10,000 · paid last 24h −0.012%

Price spread now: BingX against Kalshi+0.003%50s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as 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−$210.207% of the position

Long on Kalshi Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.003%, 7d avg +0.004%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 50 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	Kalshi KXBTCPERP	85,180	0.0171	pay 0.0171% / 8h	4h 23m	$12.0M	$736.8M	6.4x
Short	BingX BTC-USDT	85,182.2	0.0064	get 0.0064% / 8h	23m 26s	—	$1.57B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kalshi. 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 KalshibpFee BingXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$22.45
Price spread: +0.003% → +0.004%: −$0.12
Slippage, 4 orders: −$0.67
Fee Kalshi: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$43.23
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Kalshi: live order book, 6 min ago; BingX: live order book, 6 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 Kalshi live order book, 6 min ago	0.23 bp	5.3 bp −$5	6.9 bp −$69	8.3 bp −$831	14.3 bp −$7,168
Sell BingX live order book, 6 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$501	5.1 bp −$2,539

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
Hotstuff BTC-PERP	−0.0080%	1h	85,188	+0.009%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,216	+0.042%	$2.3M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0021%	8h	85,180.8	+0.001%	$421.6M	$683.9M	150x	as long as short
KuCoin XBTUSDTM	−0.0019%	8h	85,158.2	−0.026%	$927.0M	$777.6M	125x	as long as short
Aster BTCUSDT	−0.0002%	8h	85,178.8	−0.001%	$509.0M	$1.08B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,180.9	+0.001%	$342K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,187.8	+0.009%	$36.4M	—	200x	as long as short
dYdX BTC-USD	+0.0005%	1h	85,179.3	−0.001%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,169	−0.013%	$185.6M	$955.2M	100x	as long as short
ApeX Omni BTCUSDT	+0.0050%	1h	85,181.3	+0.002%	$139.5M	$312.5M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDTshort	+0.0064%	8h	85,182.2	+0.003%	—	$1.57B	—
Injective BTC/USDC PERP	+0.0067%	1h	85,248	+0.080%	$302K	$25.3M	52x	as long as short
Bybit BTCUSDT	+0.0080%	8h	85,170.2	−0.011%	$5.11B	$10.02B	150x	as long as short
Nado BTC-PERP	+0.0083%	1h	85,153.9	−0.031%	$24.0M	$220.8M	50x	as long as short
Bitget BTCUSDT	+0.0095%	8h	85,166.5	−0.016%	$2.97B	$5.20B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,150.3	−0.035%	$168.4M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,150.5	−0.035%	$23.5M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,169	−0.013%	$8.4M	$57.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,148.8	−0.037%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0099%	8h	85,179.8	0.000%	$5.03B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	85,184.2	+0.005%	$9.37B	$25.13B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,152	−0.033%	$268K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,204.2	+0.028%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,245	+0.076%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,164.1	−0.019%	$40.2M	$606.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,169.2	−0.013%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,153	−0.032%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,189.7	+0.011%	$4.6M	$97.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,294.4	+0.134%	$693.5M	$241.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,180.8	+0.001%	$5.47B	$11.12B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,145.2	−0.041%	$36.9M	$187.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,162.5	−0.021%	$155.8M	$550.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,170.3	−0.011%	$282.5M	$956.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,184	+0.005%	$213.9M	$159.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,260.1	+0.094%	$30.0M	$211.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,229.8	+0.058%	—	$10.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,170	−0.012%	$10.9M	$14.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,156.1	−0.028%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,169.4	−0.012%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,197.4	+0.020%	$193K	$796K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,139.3	−0.048%	$29.6M	$45.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,148.4	−0.037%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,154	−0.031%	$59.7M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,157.3	−0.027%	$2.25B	$970.5M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,153.8	−0.031%	$158.8M	$516.1M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,146.4	−0.039%	$45.4M	$241.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,186.6	+0.008%	—	$106.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,190.2	+0.012%	$111.6M	$5.47B	50x	as long as short
Reya BTCRUSDPERP	+0.0141%	1h	85,157.5	−0.026%	$6.6M	$143.6M	40x	as long as short
Kalshi KXBTCPERPlong	+0.0171%	8h	85,180	long leg	$12.0M	$736.8M	6.4x
RISEx BTC/USDC	+0.0174%	1h	85,187.7	+0.009%	$8.8M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0147%	1h	85,160.5	−0.023%	$13.0M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0183%	1h	85,197.3	+0.020%	$841.1M	$1.66B	50x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,224.1	+0.052%	$681K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0291%	1h	85,226.7	+0.055%	$81K	$254K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,167.2	−0.015%	$456K	$18.4M	6.7x	as long as short