BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0175%/8h= −19.1% APRnext payment −$1.75 per $10,000 · paid last 24h +0.005%

Price spread now: KuCoin against Kalshi−0.050%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Kalshi Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 7 days+0.025%+$3 · spread now −0.050%, 7d avg +0.003%

Together, before fees−0.015%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and KuCoin is 0.053% cheaper against Kalshi than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBTCPERP	86,615	0.0179	pay 0.0179% / 8h	5h 59m	$9.6M	$726.9M	6.4x
Short	KuCoin XBTUSDTM	86,571.9	0.0004	get 0.0004% / 8h	1h 59m	$850.1M	$709.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$36.71
Price spread: −0.050% → +0.003%: −$5.28
Slippage, 4 orders: −$1.17
Fee Kalshi: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$65.16
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; KuCoin: live order book, 10 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, 5 min ago	0.23 bp	5.4 bp −$5	6.9 bp −$69	7.5 bp −$753	12.0 bp −$5,994
Sell KuCoin live order book, 10 min ago	0.01 bp	6.3 bp −$6	6.9 bp −$69	8.3 bp −$828	doesn't fit

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
Aftermath Perps BTCUSD	−0.0246%	1h	86,613.4	−0.002%	$79K	$197K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,565.8	−0.057%	$425K	$24.4M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,561	−0.062%	$2.2M	$11.7M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,546	−0.080%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0066%	1h	86,591.4	−0.027%	$17.6M	$20.6M	50x	as long as short
Nado BTC-PERP	−0.0005%	1h	86,544.1	−0.082%	$21.6M	$235.0M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,575.4	−0.046%	$505.5M	$1.16B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,602.2	−0.015%	$360K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,619.7	+0.005%	$926.8M	$1.47B	50x	as long as short
KuCoin XBTUSDTMshort	+0.0004%	8h	86,571.9	−0.050%	$850.1M	$709.7M	125x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,608.6	−0.007%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,561.5	−0.062%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,582.9	−0.037%	$6.7M	$144.6M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,614	−0.001%	$315K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0030%	8h	86,588.4	−0.031%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0033%	8h	86,587.5	−0.032%	$149.7M	$472.4M	150x	as long as short
Bitget BTCUSDT	+0.0038%	8h	86,584.6	−0.035%	$2.95B	$5.09B	150x	as long as short
Popdex BTCUSDT	+0.0048%	1h	86,586	−0.033%	$8.5M	$52.3M	100x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,585.3	−0.034%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	86,586.2	−0.033%	$5.18B	$5.59B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,568.6	−0.054%	$9.42B	$24.38B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,583.7	−0.036%	$5.85B	$10.60B	200x	as long as short
Bybit BTCUSDT	+0.0086%	8h	86,558.1	−0.066%	$5.28B	$9.74B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,592.8	−0.026%	$172.1M	$995.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,607.2	−0.009%	$24.1M	$151.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0099%	8h	86,552	−0.073%	$2.55B	$12.73B	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,544	−0.082%	$201K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,588.4	−0.031%	$4.8M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,659	+0.051%	$3.81B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,586.1	−0.033%	$41.0M	$499.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,546	−0.080%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,621.5	+0.008%	$7.4M	$94.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,590.2	−0.029%	$572.1M	$20.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,584.8	−0.035%	$38.1M	$151.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,596.1	−0.022%	$159.3M	$566.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,587.2	−0.032%	$279.6M	$942.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,592.7	−0.026%	$217.3M	$184.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,597.4	−0.020%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,588.3	−0.031%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,626.7	+0.013%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,587	−0.032%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,584.6	−0.035%	$192K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,597.7	−0.020%	$2.5M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,604.3	−0.012%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,583.2	−0.037%	$30.0M	$61.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,564.3	−0.059%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,586	−0.033%	$60.5M	$336.7M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,570.4	−0.051%	$2.30B	$960.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,574.2	−0.047%	$46.4M	$226.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,587.3	−0.032%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,628.1	+0.015%	$131.9M	$5.82B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,603.4	−0.013%	$187.1M	$934.0M	100x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,617.6	+0.003%	$727K	$8.1M	30x	as long as short
Kalshi KXBTCPERPlong	+0.0179%	8h	86,615	long leg	$9.6M	$726.9M	6.4x
BloFin BTC-USDT	+0.0179%	8h	86,586.2	−0.033%	$416.7M	$655.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0210%	1h	86,602.4	−0.014%	$15.0M	—	200x	as long as short