BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0105%/8h= +11.5% APRnext payment +$1.05 per $10,000 · paid last 24h −0.019%

Price spread now: Kalshi against Variational Omni+0.094%7-day average +0.005% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.061%−$6 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.094%, 7d avg +0.005%

Together, before fees−0.101%+ Points / potential airdropVariational Omni: Active · farm board−$10 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 0.089% dearer against Variational Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 3 days funding on this pair cost −0.061%, 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	Variational Omni BTC	86,226.1	0.0100	pay 0.0100% / 8h	7h 12m	$156.7M	$559.2M	—
Short	Kalshi KXBTCPERP	86,307	0.0205	get 0.0205% / 8h	3h 12m	$10.4M	$766.0M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee KalshibpOrdersPrice spread, now +0.094%Rate

Funding earned: $22.04
Price spread: +0.094% → +0.005%: $8.91
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $20.95
Costs to cover: 0.100%
Break-even: 0.3 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; 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 Variational Omni RFQ quote, 2 min ago	0.50 bp	doesn't fit	0.5 bp −$5	1.1 bp −$114	doesn't fit
Sell Kalshi live order book, 2 min ago	0.23 bp	5.5 bp −$6	6.2 bp −$62	8.1 bp −$806	14.3 bp −$7,151

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	86,372	+0.169%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,228	+0.002%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,205.4	−0.024%	$363K	$2.3M	50x	as long as short
Bluefin BTC-PERP	−0.0017%	1h	86,306.6	+0.093%	$144K	$667K	40x	as long as short
Perpl BTC	0.0000%	43m	86,214.1	−0.014%	$568K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,229.9	+0.004%	$36.9M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.161%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0026%	1h	86,269.4	+0.050%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0033%	8h	86,227.5	+0.002%	$499.8M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,200	−0.030%	$829.4M	$716.6M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0048%	1h	86,189	−0.043%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0051%	8h	86,203.6	−0.026%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,209.9	−0.019%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0065%	8h	86,196.5	−0.034%	$2.97B	$5.04B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,265.3	+0.045%	$2.5M	$1.8M	20x	as long as short
SoDEX BTC-USD	+0.0080%	1h	86,268	+0.049%	$60.4M	$338.2M	40x	as long as short
MEXC BTC_USDT	+0.0084%	8h	86,196.7	−0.034%	$5.12B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0085%	8h	86,194.1	−0.037%	$9.39B	$24.21B	150x	as long as short
Gate BTC_USDT	+0.0087%	8h	86,242.2	+0.019%	$5.77B	$10.62B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,234.2	+0.009%	$170.3M	$992.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,238.1	+0.014%	$23.6M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,215	−0.013%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,180	−0.053%	$199K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,259.2	+0.038%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,251.9	+0.030%	$22.0M	$226.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,272	+0.053%	$3.78B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,261.8	+0.041%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,207	−0.022%	$5.25B	$9.64B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,202.4	−0.027%	$2.56B	$12.44B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,207	−0.022%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,223.8	−0.003%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.093%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,235.8	+0.011%	$35.6M	$161.1M	75x	as long as short
Variational Omni BTClong	+0.0100%	8h	86,226.1	long leg	$156.7M	$559.2M	—
edgeX BTCUSDC	+0.0100%	4h	86,254.8	+0.033%	$278.6M	$953.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,292.2	+0.077%	$216.6M	$165.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,290.3	+0.074%	$141.4M	$320.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,270	+0.051%	$30.6M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,265.7	+0.046%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,206	−0.023%	$11.1M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,213.4	−0.015%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,272	+0.053%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,293.7	+0.078%	$30.3M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,243.3	+0.020%	$3.3M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,244.1	+0.021%	$2.29B	$959.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,267.1	+0.048%	$155.4M	$472.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,220.1	−0.007%	$45.9M	$222.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,272.7	+0.054%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,292	+0.076%	$132.3M	$5.30B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,283.2	+0.066%	$191.8M	$947.3M	100x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,299.4	+0.085%	$714K	$7.9M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0167%	1h	86,322.7	+0.112%	$902.3M	$1.51B	50x	as long as short
Aftermath Perps BTCUSD	+0.0168%	1h	86,298.3	+0.084%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0204%	8h	86,271.5	+0.053%	$415.8M	$641.8M	150x	as long as short
Kalshi KXBTCPERPshort	+0.0205%	8h	86,307	+0.094%	$10.4M	$766.0M	6.4x
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,287.8	+0.072%	$14.5M	—	200x	as long as short