BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0084%/8h= −9.2% APRnext payment −$0.84 per $10,000 · paid last 24h +0.001%

Price spread now: MEXC against Kalshi−0.018%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$150.147% of the position

Long on Kalshi Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.010%−$1 · spread now −0.018%, 7d avg +0.003%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.020% cheaper against Kalshi than usual: you would sell low and buy high (−$2 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	85,480	0.0173	pay 0.0173% / 8h	6h 50m	$11.4M	$750.3M	6.4x
Short	MEXC BTC_USDT	85,465	0.0089	get 0.0089% / 8h	2h 50m	$5.08B	$5.66B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$17.6
Price spread: −0.018% → +0.003%: −$2.02
Slippage, 4 orders: −$0.69
Fee Kalshi: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$34.3
Costs to cover: 0.147%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago	0.06 bp	5.4 bp −$5	6.4 bp −$64	7.7 bp −$770	13.5 bp −$6,734
Sell MEXC live order book, 3 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$201	2.1 bp −$1,075

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
Phoenix BTC	−0.0111%	1h	85,404	−0.089%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,450	−0.035%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0055%	8h	85,454.3	−0.030%	$921.2M	$760.6M	125x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,472.9	−0.008%	$381K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0030%	8h	85,477.4	−0.003%	$421.3M	$677.4M	150x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,454.7	−0.030%	$514.2M	$1.10B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,452.6	−0.032%	$16.8M	$21.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,451.7	−0.033%	$533K	$18.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,484.2	+0.005%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0018%	1h	85,423.8	−0.066%	$24.7M	$223.7M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,449	−0.036%	$339K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,497.6	+0.021%	$187.7M	$954.3M	100x	as long as short
ApeX Omni BTCUSDT	+0.0060%	1h	85,397.6	−0.096%	$139.6M	$315.6M	100x	as long as short
BingX BTC-USDT	+0.0064%	8h	85,468	−0.014%	—	$1.55B	—	as long as short
Bullet BTC-USD	+0.0072%	1h	85,470.5	−0.011%	$204K	$3.3M	20x	as long as short
Phemex BTCUSDT	+0.0072%	8h	85,480.4	0.000%	$149.7M	$500.4M	150x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,472.1	−0.009%	$2.96B	$5.15B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,464.6	−0.018%	$2.4M	$6.7M	20x	as long as short
SoDEX BTC-USD	+0.0089%	1h	85,473	−0.008%	$59.9M	$335.9M	40x	as long as short
MEXC BTC_USDTshort	+0.0089%	8h	85,465	−0.018%	$5.08B	$5.66B	500x
Binance BTCUSDT	+0.0090%	8h	85,465.9	−0.017%	$9.45B	$24.71B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,483.6	+0.004%	$171.9M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,484.7	+0.005%	$23.9M	$147.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,472	−0.009%	$8.4M	$55.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,514.1	+0.040%	$117.3M	$5.31B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,447	−0.039%	$239K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,484.3	+0.005%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,548	+0.080%	$3.78B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,461.2	−0.022%	$40.1M	$593.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,462.4	−0.021%	$5.18B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,481.9	+0.002%	$2.59B	$12.15B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,475	−0.006%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,476.3	−0.004%	$4.7M	$99.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,474.9	−0.006%	$5.52B	$10.79B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,463.5	−0.019%	$36.6M	$175.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453.4	−0.031%	$154.3M	$564.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,371.3	−0.127%	$279.2M	$937.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,404.6	−0.088%	$214.6M	$169.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,389	−0.106%	$30.1M	$206.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,524.2	+0.052%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,471	−0.011%	$11.1M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,461.8	−0.021%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,522.8	+0.050%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,450.8	−0.034%	$30.0M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,451.9	−0.033%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,464.4	−0.018%	$2.26B	$952.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,429	−0.060%	$679.8M	$655.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,441.4	−0.045%	$45.8M	$236.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,440.8	−0.046%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0109%	1h	85,467.2	−0.015%	$6.6M	$147.3M	40x	as long as short
Kalshi KXBTCPERPlong	+0.0173%	8h	85,480	long leg	$11.4M	$750.3M	6.4x
Deribit BTC-PERPETUAL	+0.0174%	1h	85,521.8	+0.049%	$872.2M	$1.60B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,478.3	−0.002%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,486.9	+0.008%	$695K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0240%	1h	85,446.8	−0.039%	$78K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,499.6	+0.023%	$8.8M	$43.1M	25x	as long as short