Funding you earn now, next payment 10:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h +0.007%
Price spread now: Extended against Kalshi−0.069%7-day average −0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$160.157% of the position
Funding, last 7 days+0.043%+$4 on $10k
+Price spread, last 7 days+0.038%+$4 · spread now −0.069%, 7d avg −0.034%
=Together, before fees+0.081%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.035% cheaper against Kalshi than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.034%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBTCPERP | 85,985 | 0.0165 | pay 0.0165% / 8h | 2h 21m | $11.2M | $732.6M | 6.4x |
| Short | Extended BTC-USD | 85,925.8 | 0.0104 | get 0.0013% / 1h | 21m 02s | $46.9M | $207.6M | 50x |
Kalshi KXBTCPERP
Extended BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$12.77
- Price spread: −0.069% → −0.034%
- −$3.52
- Slippage, 4 orders
- −$0.71
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$31.99
- Costs to cover
- 0.157%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 1 min ago; Extended: live order book, 1 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, 1 min ago | 0.23 bp | 5.3 bp −$5 | 6.8 bp −$68 | 7.6 bp −$757 | 12.5 bp −$6,261 |
| Sell Extended live order book, 1 min ago | 0.06 bp | 2.6 bp −$3 | 3.2 bp −$32 | 4.2 bp −$423 | 9.8 bp −$4,885 |
BTC on 55 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | −0.0099% | 1h | 85,916 | −0.080% | $137.3M | $297.5M | 100x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,895 | −0.105% | $8K | $2K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0072% | 1h | 85,966.6 | −0.021% | $357K | $2.0M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0065% | 1h | 85,986 | +0.001% | $300K | $28.5M | 52x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,924.8 | −0.070% | $422.4M | $579.8M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 86,011.6 | +0.031% | $16.9M | $15.1M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,978.3 | −0.008% | $481K | $14.5M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,946.4 | −0.045% | $36.7M | — | 200x | as long as short |
| SoDEX BTC-USD | +0.0011% | 1h | 85,930 | −0.064% | $65.4M | $207.5M | 40x | as long as short |
| BingX BTC-USDC | +0.0019% | 8h | 85,929.5 | −0.065% | — | $16.6M | — | as long as short |
ApeX Omni BTCUSDT
Hotstuff BTC-PERP
01 Exchange BTCUSD
Injective BTC/USDC PERP
BloFin BTC-USDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
SoDEX BTC-USD
BingX BTC-USDCShow all 55 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit BTCUSDT | +0.0025% | 8h | 85,951.9 | −0.038% | $5.09B | $8.58B | 150x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,950.7 | −0.040% | $511.8M | $921.4M | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0039% | 8h | 85,949.8 | −0.041% | $928.0M | $654.6M | 125x | as long as short |
| Phoenix BTC | +0.0053% | 1h | 85,868 | −0.136% | $2.0M | $8.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0070% | 8h | 85,940.7 | −0.052% | $5.50B | $9.27B | 200x | as long as short |
| Nado BTC-PERP | +0.0075% | 1h | 85,970.5 | −0.017% | $22.0M | $204.2M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,953.6 | −0.037% | $172.8M | $887.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,953.4 | −0.037% | $23.0M | $124.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,969 | −0.019% | $8.8M | $48.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,928.3 | −0.066% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0099% | 8h | 85,949.8 | −0.041% | $2.98B | $4.15B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,947 | −0.044% | $209K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,002.5 | +0.020% | $6.0M | $8.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,038 | +0.062% | $3.93B | $4.46B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,013.9 | +0.034% | $40.3M | $581.9M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,946.6 | −0.045% | $9.44B | $21.74B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,957.7 | −0.032% | $2.60B | $9.90B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,958 | −0.031% | $4.0M | $15.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,001 | +0.019% | $4.2M | $92.6M | 40x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,935.9 | −0.057% | $5.14B | $5.38B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,929.5 | −0.065% | $37.3M | $192.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,862.6 | −0.142% | $156.0M | $500.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,857.1 | −0.149% | $289.1M | $848.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,890.1 | −0.110% | $215.7M | $139.9M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,993.5 | +0.010% | $30.2M | $221.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,039 | +0.063% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,976 | −0.010% | $11.0M | $12.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,935 | −0.058% | $202K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,927.4 | −0.067% | $2.6M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,969.1 | −0.018% | $195K | $570K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,938.3 | −0.054% | $3.2M | $7.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,925.1 | −0.070% | $2.27B | $844.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,924.9 | −0.070% | $169.2M | $484.6M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,914.7 | −0.082% | $712.8M | $159.6M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0102% | 1h | 85,952.5 | −0.038% | $189.7M | $808.8M | 100x | as long as short |
| Extended BTC-USDshort | +0.0104% | 1h | 85,925.8 | −0.069% | $46.9M | $207.6M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,992.2 | +0.008% | — | $83.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 85,980 | −0.006% | $112.0M | $5.05B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0160% | 1h | 85,988.9 | +0.005% | $6.6M | $131.5M | 40x | as long as short |
| Kalshi KXBTCPERPlong | +0.0165% | 8h | 85,985 | long leg | $11.2M | $732.6M | 6.4x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0199% / S −0.0183% | 1h | 85,943.4 | −0.048% | $13.2M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0204% | 1h | 85,998.4 | +0.016% | $9.0M | $38.7M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0280% | 1h | 85,992 | +0.008% | $827.8M | $1.55B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0304% | 1h | 86,051.1 | +0.077% | $709K | $7.1M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0421% | 1h | 85,958.1 | −0.031% | $79K | $247K | 20x | as long as short |
Bybit BTCUSDT
Aster BTCUSDT
KuCoin XBTUSDTM
Phoenix BTC
Gate BTC_USDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Kraken Futures PF_XBTUSD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD