Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.002%

Price spread now: Kalshi against Aevo+0.147%52s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$820.824% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now +0.147%, 7d avg +0.002%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Kalshi is 0.145% dearer against Aevo than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.002%. Mind the row above: over the last 7 days funding on this pair cost −0.190%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BNB-PERP	801.22	0.0104	pay 0.0013% / 1h	40m 17s	$385K	$40K	10x
Short	Kalshi KXBNBPERP	802.40	0.0114	get 0.0114% / 8h	4h 40m	$110K	$2.9M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.147%Rate

Funding earned: $2.01
Price spread: +0.147% → +0.002%: $14.55
Slippage, 4 orders: −$56.41
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$65.85
Costs to cover: 0.824%
Break-even: 235.9 days

Slippage from Aevo: live order book, 39 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 Aevo live order book, 39 min ago	11.55 bp	37.7 bp −$38	44.4 bp −$444	65.8 bp −$6,583	doesn't fit
Sell Kalshi live order book, 3 min ago	4.36 bp	9.4 bp −$9	16.3 bp −$163	doesn't fit	doesn't fit

BNB on 46 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
GMX BNB/USD [WBTC.b-USDC]	L −0.0201% / S +0.0372%	1h	801.05	−0.021%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.50	+0.035%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	800.95	−0.033%	$2.6M	$970K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.87	+0.206%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	802.64	+0.177%	$867K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.11	−0.013%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0025%	8h	801.45	+0.029%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0048%	8h	801.63	+0.051%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0058%	8h	800.70	−0.065%	$139.0M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.062%	$607K	$994K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	801.32	+0.012%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.74	−0.060%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.47	+0.031%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.80	−0.052%	$54.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.60	+0.047%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.85	−0.046%	$35.9M	$57.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.96	−0.032%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.04	−0.022%	$79.5M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.59	+0.296%	$4.2M	$77.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.34	+0.265%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.95	−0.034%	$117K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.00	−0.027%	$387K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.30	+0.010%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.79	+0.071%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	801.20	−0.003%	$394K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	801.47	+0.031%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.80	+0.072%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.80	+0.072%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	801.69	+0.059%	$6.3M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	800.56	−0.082%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERPlong	+0.0104%	1h	801.22	long leg	$385K	$40K	10x
Kalshi KXBNBPERPshort	+0.0114%	8h	802.40	+0.147%	$110K	$2.9M	4.8x
Phemex BNBUSDT	+0.0114%	8h	801.72	+0.062%	$70.1M	$50.9M	50x	as long as short
Binance BNBUSDT	+0.0122%	8h	801.57	+0.044%	$501.3M	$817.1M	75x	as long as short
MEXC BNB_USDT	+0.0123%	8h	801.90	+0.085%	$83.4M	$13.5M	200x	as long as short
Phoenix BNB	+0.0127%	1h	802.03	+0.101%	$172K	$36K	10x	as long as short
Hyperliquid BNB	+0.0211%	1h	801.71	+0.061%	$51.9M	$21.4M	10x	as long as short
Hibachi BNB/USDT-P	+0.0224%	1h	802.11	+0.112%	$70K	$44K	12x	as long as short
BloFin BNB-USDT	+0.0243%	8h	802.44	+0.152%	$18.3M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	801.35	+0.016%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0305%	1h	801.82	+0.075%	$651K	$20K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.483%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	800.63	−0.074%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	801.83	+0.076%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0366%	1h	802.53	+0.163%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0428%	1h	801.50	+0.034%	$162K	$62K	10x	as long as short