Funding you earn now, next payment 04:00 UTC+0.0110%/8h= +12.1% APRnext payment +$1.10 per $10,000 · paid last 24h −0.019%
Price spread now: Kalshi against Paradex−0.030%7-day average −0.013% · 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−$18as in the Price arb table
costs, in and out, $10k−$160.159% of the position
Funding, last 4 days (all we have)−0.073%−$7 on $10k
+Price spread, last 7 days+0.032%+$3 · spread now −0.030%, 7d avg −0.013%
=Together, before fees−0.041%+ Points / potential airdropParadex: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex BTC-USD-PERP | 86,453.8 | 0.0100 | pay 0.0100% / 8h | 7h 36m | $4.4M | $8.6M | 50x |
| Short | Kalshi KXBTCPERP | 86,428 | 0.0210 | get 0.0210% / 8h | 3h 36m | $10.1M | $761.9M | 6.4x |
Paradex BTC-USD-PERP
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Paradex. 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
- $23.14
- Price spread: −0.030% → −0.013%
- −$1.66
- Slippage, 4 orders
- −$1.87
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $5.61
- Costs to cover
- 0.159%
- Break-even
- 5.3 days
Slippage from Paradex: live order book, 3 min ago; Kalshi: 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 Paradex live order book, 3 min ago | 0.74 bp | 2.7 bp −$3 | 2.7 bp −$27 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 3 min ago | 0.06 bp | 5.2 bp −$5 | 6.4 bp −$64 | 7.5 bp −$747 | 11.8 bp −$5,889 |
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 | −0.0129% | 1h | 86,448 | −0.007% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,420 | −0.039% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,430.7 | −0.027% | $360K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,444.1 | −0.011% | $498K | $21.8M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,431.1 | −0.026% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0020% | 8h | 86,424.3 | −0.034% | $501.2M | $1.14B | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,430 | −0.027% | $333K | $26.9M | 52x | as long as short |
| dYdX BTC-USD | +0.0024% | 1h | 86,450 | −0.004% | $16.9M | $20.5M | 50x | as long as short |
| Phemex BTCUSDT | +0.0025% | 8h | 86,423.1 | −0.035% | $154.0M | $474.1M | 150x | as long as short |
| KuCoin XBTUSDTM | +0.0038% | 8h | 86,415.5 | −0.044% | $831.2M | $721.5M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Injective BTC/USDC PERP
dYdX BTC-USD
Phemex BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0044% | 1h | 86,409 | −0.052% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDC | +0.0049% | 8h | 86,410.7 | −0.050% | — | $15.3M | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,435.9 | −0.021% | $8.3M | $42.5M | 25x | as long as short |
| Bitget BTCUSDT | +0.0062% | 8h | 86,402.2 | −0.060% | $2.97B | $5.04B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0077% | 1h | 86,463.1 | +0.011% | $903.4M | $1.51B | 50x | as long as short |
| MEXC BTC_USDT | +0.0077% | 8h | 86,410.4 | −0.050% | $5.13B | $5.69B | 500x | as long as short |
| Binance BTCUSDT | +0.0077% | 8h | 86,418.1 | −0.041% | $9.41B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,403.9 | −0.058% | $2.5M | $1.7M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,449.7 | −0.005% | $170.5M | $984.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,449.7 | −0.005% | $23.7M | $149.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,418 | −0.041% | $8.4M | $52.0M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,405 | −0.056% | $203K | $7.2M | 50x | as long as short |
| Paradex BTC-USD-PERPlong | +0.0100% | 8h | 86,453.8 | long leg | $4.4M | $8.6M | 50x | |
| Nado BTC-PERP | +0.0100% | 1h | 86,439.7 | −0.016% | $21.9M | $228.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,484 | +0.035% | $3.80B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,471 | +0.020% | $40.7M | $551.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,424.5 | −0.034% | $5.25B | $9.67B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,433.1 | −0.024% | $2.56B | $12.51B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,446 | −0.009% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,456.2 | +0.003% | $7.2M | $95.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,348 | −0.122% | $573.1M | $19.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,420.5 | −0.038% | $5.81B | $10.52B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,424.4 | −0.034% | $37.5M | $155.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,351.7 | −0.118% | $158.4M | $564.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,397.1 | −0.066% | $279.1M | $950.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,397.9 | −0.065% | $217.0M | $165.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,396.8 | −0.066% | $141.7M | $322.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,386.3 | −0.078% | $30.7M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,454.8 | +0.001% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,416 | −0.044% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,414.1 | −0.046% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,416.4 | −0.043% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,457.3 | +0.004% | $144K | $666K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,455.5 | +0.002% | $30.5M | $58.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,362.2 | −0.106% | $3.4M | $5.2M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,424 | −0.034% | $60.4M | $338.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,402.8 | −0.059% | $2.29B | $964.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,408.9 | −0.052% | $45.8M | $222.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,439.6 | −0.016% | — | $98.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,463.1 | +0.011% | $132.1M | $5.44B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,457.2 | +0.004% | $192.3M | $941.8M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,395.8 | −0.067% | $710K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0166% | 1h | 86,430.1 | −0.027% | $78K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0197% | 8h | 86,425.1 | −0.033% | $416.3M | $648.1M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0218% | 1h | 86,428.1 | −0.030% | $14.5M | — | 200x | as long as short |
| Kalshi KXBTCPERPshort | +0.0210% | 8h | 86,428 | −0.030% | $10.1M | $761.9M | 6.4x |
Reya BTCRUSDPERP
BingX BTC-USDC
RISEx BTC/USDC
Bitget BTCUSDT
Deribit BTC-PERPETUAL
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]