Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.002%

Price spread now: Kalshi against Extended+0.141%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 7 days−0.132%−$13 · spread now +0.141%, 7d avg +0.079%

Together, before fees−0.276%+ Points / potential airdropExtended: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.062% dearer against Extended than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.079%. Mind the row above: over the last 7 days funding on this pair cost −0.144%, 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	Extended BNB-USD	786.29	0.0104	pay 0.0013% / 1h	46m 38s	$1.8M	$6.3M	50x
Short	Kalshi KXBNBPERP	787.40	0.0137	get 0.0137% / 8h	6h 46m	$122K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.141%Rate

Funding earned: $6.9
Price spread: +0.141% → +0.079%: $6.18
Slippage, 4 orders: −$8.99
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$10.92
Costs to cover: 0.240%
Break-even: 18.1 days

Slippage from Extended: live order book, 2 min ago; Kalshi: live order book, 2 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 Extended live order book, 2 min ago	0.06 bp	3.5 bp −$3	5.8 bp −$58	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	3.81 bp	8.8 bp −$9	16.2 bp −$162	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	786.52	+0.029%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.47	+0.150%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.51	+0.282%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.68	+0.050%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	787.10	+0.103%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.391%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0039%	8h	786.77	+0.061%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	787.50	+0.154%	$79.8M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	787.17	+0.112%	$490.3M	$804.5M	75x	as long as short
Phemex BNBUSDT	+0.0053%	8h	787.17	+0.112%	$68.9M	$50.7M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0065%	1h	786.99	+0.089%	$159K	$61K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.55	+0.033%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	+0.149%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.75	+0.059%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.59	+0.038%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.75	+0.059%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.06	+0.098%	$51.6M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.82	+0.067%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.54	+0.032%	$138.2M	$74.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	+0.014%	$53.4M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	+0.065%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	+0.033%	$36.1M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.30	+0.001%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.22	−0.009%	$76.1M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.87	+0.074%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.11	+0.105%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.190%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.86	+0.200%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.72	+0.055%	$131K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.78	+0.062%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.53	+0.158%	$12K	$1.5M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.02	+0.093%	$1.5M	$143K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.65	+0.046%	$8.1M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.95	+0.083%	$76K	$17K	50x	as long as short
Extended BNB-USDlong	+0.0104%	1h	786.29	long leg	$1.8M	$6.3M	50x
Aevo BNB-PERP	+0.0104%	1h	786.72	+0.055%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.34	+0.134%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0107%	1h	786.80	+0.065%	$387K	$997K	10x	as long as short
Kalshi KXBNBPERPshort	+0.0137%	8h	787.40	+0.141%	$122K	$2.7M	4.8x
BloFin BNB-USDT	+0.0172%	8h	787.12	+0.106%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0198%	8h	788.06	+0.225%	$2.9M	$29.2M	10x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.239%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	787.48	+0.151%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	786.60	+0.040%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.91	+0.079%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	787.92	+0.208%	$67K	$39K	12x	as long as short