Funding you earn now, next payment 06:40 UTC+0.0176%/8h= +19.3% APRpaid last 24h +0.039%
Price spread now: Kalshi against Perpl+0.045%7-day average −0.016% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.306%−$31 on $10k
+Price spread, last 7 days−0.092%−$9 · spread now +0.045%, 7d avg −0.016%
=Together, before fees−0.398%+ Points / potential airdropPerpl: Active · farm board−$40 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kalshi is 0.061% dearer against Perpl than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.016%. Mind the row above: over the last 7 days funding on this pair cost −0.306%, 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 | Perpl BTC | 85,439.3 | 0 | get 0.0000% / 43m | 13m 02s | $492K | $18.3M | 6.7x |
| Short | Kalshi KXBTCPERP | 85,478 | 0.0176 | get 0.0176% / 8h | 5h 07m | $11.9M | $739.4M | 6.4x |
Perpl BTC
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Perpl. 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
- $37.05
- Price spread: +0.045% → −0.016%
- $6.15
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $19.4
- Costs to cover
- 0.238%
- Break-even
- 3.3 days
Slippage unknown: Perpl: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.
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 Perpl no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 2 min ago | 0.18 bp | 5.3 bp −$5 | 6.6 bp −$66 | 7.6 bp −$760 | 11.8 bp −$5,888 |
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 55 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 | −0.0082% | 1h | 85,478 | +0.045% | $2.3M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,414 | −0.030% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0034% | 8h | 85,461.8 | +0.026% | $929.4M | $772.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,468.2 | +0.034% | $421.1M | $680.7M | 150x | as long as short |
| Aster BTCUSDT | −0.0004% | 8h | 85,452.2 | +0.015% | $512.9M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,439.4 | 0.000% | $352K | $2.4M | 50x | as long as short |
| Perpl BTClong | 0.0000% | 43m | 85,439.3 | long leg | $492K | $18.3M | 6.7x | |
| dYdX BTC-USD | +0.0001% | 1h | 85,430.8 | −0.010% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,476 | +0.043% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0045% | 1h | 85,418 | −0.025% | $24.1M | $219.9M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0050% | 1h | 85,501.9 | +0.073% | $853.8M | $1.64B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.225% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0074% | 8h | 85,462.3 | +0.027% | — | $1.57B | — | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,482.9 | +0.051% | $186.2M | $952.4M | 100x | as long as short |
| Bitget BTCUSDT | +0.0092% | 8h | 85,462.2 | +0.027% | $2.97B | $5.15B | 150x | as long as short |
| Bybit BTCUSDT | +0.0093% | 8h | 85,458.8 | +0.023% | $5.14B | $9.96B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,478.8 | +0.046% | $169.8M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,474.1 | +0.041% | $23.6M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,446 | +0.008% | $8.5M | $57.1M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,478.1 | +0.045% | $2.4M | $6.7M | 20x | as long as short |
| SoDEX BTC-USD | +0.0096% | 1h | 85,462 | +0.027% | $59.8M | $336.7M | 40x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,463.5 | +0.028% | $5.04B | $5.78B | 500x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,464.7 | +0.030% | $9.43B | $24.86B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,409 | −0.035% | $245K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,480.4 | +0.048% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,549.6 | +0.129% | $3.75B | $5.05B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,449.1 | +0.011% | $40.4M | $603.0M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,466.1 | +0.031% | $2.60B | $12.19B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,404 | −0.041% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,418.7 | −0.024% | $5.1M | $96.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,466.2 | +0.031% | $5.56B | $11.08B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,458.7 | +0.023% | $37.3M | $181.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,384.3 | −0.064% | $156.3M | $556.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,406.3 | −0.039% | $279.8M | $952.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,439.5 | 0.000% | $214.5M | $163.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,439.8 | +0.001% | $139.7M | $313.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,403 | −0.042% | $30.1M | $207.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,488.9 | +0.058% | — | $10.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,450 | +0.013% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,466.9 | +0.032% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,463.5 | +0.028% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,502.9 | +0.074% | $194K | $795K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,429.2 | −0.012% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,450 | +0.013% | $2.26B | $962.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,471 | +0.037% | $156.6M | $512.8M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,413.1 | −0.031% | $689.0M | $342.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,437.8 | −0.002% | $45.2M | $240.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,430.2 | −0.011% | — | $104.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,496.4 | +0.067% | $113.0M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0134% | 1h | 85,444.9 | +0.007% | $6.6M | $147.7M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0150% | 1h | 85,475.6 | +0.042% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERPshort | +0.0176% | 8h | 85,478 | +0.045% | $11.9M | $739.4M | 6.4x | |
| RISEx BTC/USDC | +0.0193% | 1h | 85,454.2 | +0.017% | $8.8M | $42.6M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0216% | 1h | 85,442 | +0.003% | $685K | $7.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0265% | 1h | 85,477.2 | +0.044% | $79K | $242K | 20x | as long as short |
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
BingX BTC-USDT
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus 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
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD