BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0103%/8h= +11.3% APRnext payment +$1.03 per $10,000 · paid last 24h 0.000%

Price spread now: Kalshi against OKX+0.077%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on OKX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.047%−$5 · spread now +0.077%, 7d avg −0.005%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kalshi is 0.082% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BTC-USDT-SWAP	85,535	0.0100	pay 0.0100% / 8h	3h 29m	$2.59B	$12.13B	100x
Short	Kalshi KXBTCPERP	85,601	0.0203	get 0.0203% / 8h	7h 29m	$11.7M	$754.9M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against OKX. 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 OKXbpFee KalshibpOrdersPrice spread, now +0.077%Rate

Funding earned: $21.67
Price spread: +0.077% → −0.005%: $8.18
Slippage, 4 orders: −$0.45
Fee OKX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $9.4
Costs to cover: 0.205%
Break-even: 4.0 days

Slippage from OKX: live order book, 5 min ago; Kalshi: live order book, 5 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 OKX live order book, 5 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.2 bp −$615	7.6 bp −$3,817
Sell Kalshi live order book, 5 min ago	0.17 bp	5.2 bp −$5	6.7 bp −$67	7.5 bp −$752	11.9 bp −$5,967

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	−0.0140%	1h	85,533	−0.002%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,600	+0.076%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0041%	8h	85,519	−0.019%	$919.3M	$756.8M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,579.1	+0.052%	$419.6M	$675.6M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,536.1	+0.001%	$365K	$2.3M	50x	as long as short
Aster BTCUSDT	+0.0002%	8h	85,520.2	−0.017%	$515.0M	$1.10B	200x	as long as short
Nado BTC-PERP	+0.0004%	1h	85,520.6	−0.017%	$24.6M	$223.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,580.2	+0.053%	$36.6M	—	200x	as long as short
dYdX BTC-USD	+0.0028%	1h	85,574.9	+0.047%	$16.8M	$21.2M	50x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,574	+0.046%	$340K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0065%	8h	85,514.5	−0.024%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0069%	8h	85,559.3	+0.028%	$148.3M	$495.0M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,522.3	−0.015%	$2.95B	$5.12B	150x	as long as short
SoDEX BTC-USD	+0.0082%	1h	85,565	+0.035%	$60.0M	$335.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,544	+0.011%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,542.8	+0.009%	$24.0M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,522	−0.015%	$8.4M	$54.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,561.4	+0.031%	$2.5M	$1.7M	20x	as long as short
Reya BTCRUSDPERP	+0.0099%	1h	85,523.1	−0.014%	$6.6M	$147.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,515	−0.023%	$208K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,567.3	+0.038%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,612	+0.090%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,568.3	+0.039%	$40.1M	$588.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,520	−0.018%	$9.42B	$24.40B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,521.9	−0.015%	$5.19B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAPlong	+0.0100%	8h	85,535	long leg	$2.59B	$12.13B	100x
Ondo Perps BTC-USD.P	+0.0100%	1h	85,543	+0.009%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,524.9	−0.012%	$4.7M	$100.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	−0.021%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,530.5	−0.005%	$5.54B	$10.80B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,526.4	−0.010%	$5.07B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,537.3	+0.003%	$36.2M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.9	+0.058%	$154.4M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,523.9	−0.013%	$279.4M	$928.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,590.3	+0.065%	$215.1M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,591	+0.065%	$139.9M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,553.2	+0.021%	$30.2M	$207.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,594.1	+0.069%	—	$11.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,524	−0.013%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,572.5	+0.044%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,568.5	+0.039%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,612.4	+0.090%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,561.8	+0.031%	$30.0M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,552.4	+0.020%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,550	+0.018%	$2.27B	$948.7M	200x	as long as short
Deribit BTC-PERPETUAL	+0.0101%	1h	85,612.8	+0.091%	$884.6M	$1.59B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,494.5	−0.047%	$45.0M	$233.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,598.6	+0.074%	—	$107.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,595.6	+0.071%	$117.3M	$5.26B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,583.6	+0.057%	$187.8M	$954.8M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,560.5	+0.030%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0153%	1h	85,580.9	+0.054%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERPshort	+0.0203%	8h	85,601	+0.077%	$11.7M	$754.9M	6.4x
Aftermath Perps BTCUSD	+0.0239%	1h	85,568.3	+0.039%	$78K	$221K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,568.4	+0.039%	$697K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,554.3	+0.023%	$503K	$18.8M	6.7x	as long as short