Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: Kalshi against ApeX Omni+0.024%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.164%−$16 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.024%, 7d avg −0.046%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.070% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.046%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	788.91	0.0100	pay 0.0013% / 1h	43m 31s	$159K	$442K	50x
Short	Kalshi KXBNBPERP	789.10	0	get 0.0000% / 8h	7h 43m	$129K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now +0.024%Rate

Funding earned: −$21
Price spread: +0.024% → −0.046%: $6.99
Slippage, 4 orders: −$16.25
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$50.25
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 9 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 ApeX Omni live order book, 9 min ago	4.81 bp	10.6 bp −$11	32.1 bp −$321	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.53 bp	7.5 bp −$8	13.8 bp −$138	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 −0.0192% / S +0.0356%	1h	788.22	−0.087%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.14	−0.097%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.67	−0.030%	$4K	$42	25x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	789.10	+0.024%	$129K	$2.7M	4.8x
StandX BNB-USD	0.0000%	1h	789.04	+0.016%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.20	−0.090%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.051%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0033%	8h	788.73	−0.023%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0044%	8h	788.26	−0.082%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0054%	8h	789.10	+0.024%	$80.0M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0054%	8h	788.68	−0.029%	$492.1M	$796.5M	75x	as long as short
Phemex BNBUSDT	+0.0062%	8h	788.65	−0.033%	$69.0M	$50.4M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.171%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	789.11	+0.025%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.35	−0.072%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.23	−0.086%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.05	−0.109%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.78	−0.016%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.39	−0.066%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.09	−0.104%	$138.7M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.20	−0.090%	$53.4M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	−0.077%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.15	−0.096%	$35.9M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.93	−0.124%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.79	−0.142%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.63	−0.035%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.41	−0.063%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.33	+0.053%	$4.1M	$73.8M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	788.91	long leg	$159K	$442K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	788.10	−0.103%	$130K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.36	−0.070%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.93	+0.003%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.30	−0.077%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.36	−0.069%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.52	−0.049%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.83	−0.136%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.23	−0.086%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0118%	1h	788.57	−0.044%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0172%	8h	789.11	+0.025%	$2.9M	$28.7M	10x	as long as short
BloFin BNB-USDT	+0.0175%	8h	789.06	+0.019%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	788.73	−0.023%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	788.74	−0.022%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.71	−0.025%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.00	−0.115%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0400%	1h	788.76	−0.019%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.53	−0.048%	$1.1M	$891K	20x	as long as short