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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0274%/8h= +30.0% APRpaid last 24h +0.058%
Price spread now: Bulk against Kalshi−0.068%7-day average +0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$230.233% of the position
Long on KalshiShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.296%+$30 on $10k
Price spread, last 3 days (all we have)−0.033%−$3 · spread now −0.068%, 7d avg +0.079%
Together, before fees+0.263%+$26 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bulk is 0.147% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.079%). If the spread goes back, that is −$15 on $10k: about 43 hours of funding at the current rate (+$8 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXBNBPERP806.100get 0.0000% / 8h5h 45m$108K$2.5M4.8x
ShortBulk BNB-USD805.550.0274get 0.0034% / 1h45m 39s$651K$14K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Kalshi. 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

Funding earned
$57.59
Price spread: −0.068% → +0.079%
−$14.71
Slippage, 4 orders
−$6.33
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$19.55
Costs to cover
0.233%
Break-even
4.6 days
Slippage from Kalshi: live order book, 3 min ago; Bulk: live order book, 38 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kalshi live order book, 3 min ago3.10 bp8.1 bp −$814.9 bp −$149doesn't fitdoesn't fit
Sell Bulk live order book, 38 min ago0.06 bp3.6 bp −$43.6 bp −$367.4 bp −$74116.5 bp −$8,254

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h805.51−0.073%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h806.30+0.025%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h805.16−0.117%$3.0M$29.3M10xas long as short
Kalshi KXBNBPERPlong0.0000%8h806.10long leg$108K$2.5M4.8x
StandX BNB-USD0.0000%1h805.84−0.032%$871K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h805.54−0.069%$9.8M—150xas long as short
Variational Omni BNB+0.0047%8h804.38−0.213%$4.1M$5.3M—as long as short
BingX BNB-USDT+0.0059%8h805.61−0.061%—$34.5M—as long as short
Hibachi BNB/USDT-P+0.0072%1h805.46−0.079%$71K$48K12xas long as short
Bybit BNBUSDT+0.0084%8h805.32−0.097%$139.5M$81.9M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter BNB+0.0096%1h806.03−0.008%$2.8M$4.2M20xas long as short
Coinbase International BNB-PERP-INTX+0.0096%1h805.54−0.069%$608K$882K50xas long as short
Nado BNB-PERP+0.0100%1h805.12−0.122%$1.5M$2.8M20xas long as short
Pacifica BNB+0.0100%1h806.01−0.011%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h805.50−0.074%$55.1M$116.1M50xas long as short
Arcus BNB-USD+0.0100%1h805.80−0.037%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h805.45−0.081%$36.1M$57.4M75xas long as short
KuCoin BNBUSDTM+0.0100%8h805.56−0.067%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h805.40−0.087%$78.7M$25.0M75xas long as short
edgeX BNBUSDC+0.0100%4h805.44−0.082%$4.2M$76.5M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h805.50−0.074%$162K$439K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h805.38−0.089%$116K$870K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h805.75−0.043%$389K$592K50xas long as short
Derive BNB-PERP+0.0100%1h805.93−0.022%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h806.34+0.029%$13K$1.7M50xas long as short
HTX BNB-USDT+0.0100%8h805.57−0.066%$8.2M$7.6M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h806.44+0.042%$79K$19K50xas long as short
Aster BNBUSDT+0.0104%8h806.12+0.002%$6.4M$18.8M200xas long as short
Extended BNB-USD+0.0104%1h805.03−0.133%$1.9M$6.0M50xas long as short
Aevo BNB-PERP+0.0104%1h806.02−0.010%$387K$40K10xas long as short
MEXC BNB_USDT+0.0119%8h806.70+0.074%$84.7M$13.4M200xas long as short
Binance BNBUSDT+0.0119%8h806.45+0.044%$520.9M$804.3M75xas long as short
Phemex BNBUSDT+0.0132%8h806.33+0.029%$70.4M$51.9M50xas long as short
Phoenix BNB+0.0155%1h805.60−0.062%$173K$35K10xas long as short
Hyperliquid BNB+0.0179%1h806.34+0.030%$51.9M$22.0M10xas long as short
SoDEX BNB-USD+0.0182%1h805.90−0.025%$396K$1.0M10xas long as short
dYdX BNB-USD+0.0200%1h805.84−0.033%$162K$63K10xas long as short
Kraken Futures PF_BNBUSD+0.0205%1h805.81−0.036%$2.5M$929K50xas long as short
BloFin BNB-USDT+0.0238%8h806.34+0.030%$18.8M$3.1M75xas long as short
Bulk BNB-USDshort+0.0274%1h805.55−0.068%$651K$14K10x
Deribit BNB_USDC-PERPETUAL+0.0300%1h806.29+0.023%$1.6M$165K25xas long as short
Injective BNB/USDC PERP+0.0311%1h805.09−0.125%$19K$789K30xas long as short
RISEx BNB/USDC+0.0318%1h805.68−0.052%$1.1M$1.4M20xas long as short
Reya BNBRUSDPERP+0.0333%1h805.17−0.115%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0344%1h806.37+0.033%$29K$1K10xas long as short
Backpack BNB_USDC_PERP+0.0713%1h806.61+0.063%$3.0M$5.5M40xas long as short