BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0079%/8h= −8.7% APRnext payment −$0.79 per $10,000 · paid last 24h +0.007%

Price spread now: Paradex against Kalshi−0.010%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Kalshi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 7 days−0.020%−$2 · spread now −0.010%, 7d avg +0.014%

Together, before fees+0.031%+ Points / potential airdropParadex: Active · farm board+$3 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 Paradex is 0.024% cheaper against Kalshi than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.014%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.051%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBTCPERP	85,218	0.0179	pay 0.0179% / 8h	6h 31m	$11.3M	$744.8M	6.4x
Short	Paradex BTC-USD-PERP	85,209.4	0.0100	get 0.0100% / 8h	2h 31m	$5.8M	$9.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$16.62
Price spread: −0.010% → +0.014%: −$2.38
Slippage, 4 orders: −$3.78
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$36.78
Costs to cover: 0.178%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; Paradex: 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	0.35 bp	5.4 bp −$5	6.8 bp −$68	7.4 bp −$738	12.8 bp −$6,409
Sell Paradex live order book, 3 min ago	1.36 bp	3.4 bp −$3	3.4 bp −$34	163.5 bp −$16.4K	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
Perpl BTC	−0.0112%	43m	85,171.5	−0.055%	$525K	$18.6M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,177	−0.048%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,161	−0.067%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0053%	8h	85,119.4	−0.116%	$921.4M	$763.3M	125x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,168.2	−0.058%	$420.7M	$679.1M	150x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,162.7	−0.065%	$373K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,124.6	−0.110%	$511.7M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,176.4	−0.049%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,143.9	−0.087%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0022%	1h	85,152	−0.078%	$24.7M	$222.9M	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	85,225	+0.008%	$338K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,149.9	−0.080%	$186.9M	$955.2M	100x	as long as short
BingX BTC-USDC	+0.0066%	8h	85,109.6	−0.127%	—	$17.4M	—	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,127.8	−0.106%	$2.4M	$6.7M	20x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,143.9	−0.087%	$148.6M	$504.3M	150x	as long as short
Bullet BTC-USD	+0.0082%	1h	85,132.8	−0.100%	$207K	$3.3M	20x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,136.5	−0.096%	$5.04B	$5.70B	500x	as long as short
Bitget BTCUSDT	+0.0084%	8h	85,128.7	−0.105%	$2.95B	$5.18B	150x	as long as short
SoDEX BTC-USD	+0.0084%	1h	85,132	−0.101%	$59.6M	$335.8M	40x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,134.4	−0.098%	$9.40B	$24.81B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,160.1	−0.068%	$170.8M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,162.8	−0.065%	$23.7M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,150	−0.080%	$8.3M	$55.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,172	−0.054%	$116.8M	$5.34B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,133	−0.100%	$239K	$8.6M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,209.4	−0.010%	$5.8M	$9.6M	50x
Hyperliquid BTC	+0.0100%	1h	85,217	−0.001%	$3.74B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,184	−0.040%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,130.5	−0.103%	$5.15B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,137.2	−0.095%	$2.57B	$12.17B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,152	−0.077%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,157.7	−0.071%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,183.8	−0.040%	$678.4M	$603.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,133.2	−0.100%	$5.49B	$10.92B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,163.2	−0.064%	$36.0M	$174.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,263.5	+0.053%	$156.5M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,133.5	−0.099%	$278.8M	$944.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,147	−0.083%	$214.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,125.3	−0.109%	$139.1M	$315.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,149.5	−0.080%	$30.0M	$205.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,215.7	−0.003%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,140	−0.092%	$11.0M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,136.2	−0.096%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,176	−0.049%	$217K	$749K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,110.1	−0.127%	$29.9M	$49.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,147.9	−0.082%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,126	−0.108%	$2.25B	$947.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,105.9	−0.132%	$45.5M	$238.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,145.1	−0.086%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0114%	1h	85,133.8	−0.099%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0131%	1h	85,168.3	−0.058%	$872.3M	$1.61B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,139.1	−0.093%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERPlong	+0.0179%	8h	85,218	long leg	$11.3M	$744.8M	6.4x
Aftermath Perps BTCUSD	+0.0212%	1h	85,242.8	+0.029%	$79K	$225K	20x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,227.6	+0.011%	$717K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,177.7	−0.047%	$8.6M	$43.1M	25x	as long as short