Funding you earn now, next payment 09:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.032%
Price spread now: Deribit against Kalshi−0.005%7-day average +0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$390.386% of the position
Funding, last 7 days+0.269%+$27 on $10k
+Price spread, last 4 days (all we have)−0.287%−$29 · spread now −0.005%, 7d avg +0.024%
=Funding pays, the price is against you. Deribit is 0.029% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.024%). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBNBPERP | 788.50 | 0.0109 | pay 0.0109% / 8h | 3h 21m | $160K | $2.6M | 4.8x |
| Short | Deribit BNB_USDC-PERPETUAL | 788.46 | 0.0200 | get 0.0025% / 1h | 21m 16s | $1.5M | $141K | 25x |
Kalshi KXBNBPERP
Deribit BNB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $19.21
- Price spread: −0.005% → +0.024%
- −$2.92
- Slippage, 4 orders
- −$21.61
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$22.32
- Costs to cover
- 0.386%
- Break-even
- 15.1 days
Slippage from Kalshi: live order book, 2 min ago; Deribit: 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 Kalshi live order book, 2 min ago | 1.27 bp | 12.6 bp −$13 | 19.7 bp −$197 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 3 min ago | 3.62 bp | 7.1 bp −$7 | 13.0 bp −$130 | 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 −0.0166% / S +0.0337% | 1h | 787.89 | −0.077% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.66 | −0.107% | $4K | — | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0021% | 1h | 788.03 | −0.059% | $2.5M | $1.2M | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 786.95 | −0.196% | $3.0M | $27.0M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.59 | −0.115% | $849K | $2.7M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 787.12 | −0.175% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0018% | 8h | 788.55 | +0.006% | $6.0M | $18.2M | 200x | as long as short |
| BingX BNB-USDT | +0.0028% | 8h | 788.00 | −0.063% | — | $22.1M | — | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.104% | $19K | $789K | 30x | as long as short |
| MEXC BNB_USDT | +0.0035% | 8h | 789.70 | +0.152% | $82.9M | $12.3M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
BingX BNB-USDT
Injective BNB/USDC PERP
MEXC BNB_USDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BNBUSDT | +0.0035% | 8h | 788.52 | +0.003% | $489.6M | $805.1M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 788.10 | −0.051% | $2.7M | $3.7M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 787.15 | −0.171% | $1.4M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 788.20 | −0.038% | $51.7M | $17.4M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 787.40 | −0.140% | $1.2M | $937K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 787.90 | −0.076% | $138.8M | $72.4M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 787.90 | −0.076% | $53.5M | $109.5M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.50 | −0.127% | $52K | $125K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 787.90 | −0.076% | $39.7M | $56.1M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 787.69 | −0.103% | $27.8M | $9.9M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 787.67 | −0.105% | $75.5M | $32.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 787.62 | −0.112% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 783.60 | −0.622% | $4.3M | $5.0M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 786.58 | −0.244% | $4.1M | $76.2M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 786.61 | −0.240% | $158K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 787.39 | −0.141% | $132K | $922K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 788.11 | −0.049% | $265K | $357K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 784.27 | −0.537% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 788.59 | +0.011% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 788.20 | −0.038% | $388K | $940K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 787.48 | −0.130% | $8.0M | $10.3M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 787.55 | −0.121% | $78K | $47K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 787.71 | −0.100% | $1.8M | $5.8M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 787.92 | −0.074% | $378K | $110K | 10x | as long as short |
| Kalshi KXBNBPERPlong | +0.0109% | 8h | 788.50 | long leg | $160K | $2.6M | 4.8x | |
| Phemex BNBUSDT | +0.0109% | 8h | 788.52 | +0.003% | $68.6M | $51.2M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0120% | 1h | 787.14 | −0.172% | $548K | $1.9M | 50x | as long as short |
| Phoenix BNB | +0.0120% | 1h | 785.71 | −0.354% | $158K | $38K | 10x | as long as short |
| BloFin BNB-USDT | +0.0142% | 8h | 788.51 | +0.001% | $17.9M | $2.2M | 75x | as long as short |
| Deribit BNB_USDC-PERPETUALshort | +0.0200% | 1h | 788.46 | −0.005% | $1.5M | $141K | 25x | |
| Bulk BNB-USD | +0.0200% | 1h | 784.80 | −0.469% | $636K | $630 | 10x | as long as short |
| dYdX BNB-USD | +0.0211% | 1h | 787.48 | −0.129% | $158K | $65K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0232% | 1h | 787.91 | −0.075% | $28K | $3K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0319% | 1h | 787.52 | −0.125% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0355% | 1h | 787.27 | −0.156% | $1.1M | $887K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0408% | 1h | 787.26 | −0.157% | $67K | $39K | 12x | as long as short |
Binance BNBUSDT
Lighter BNB
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phemex BNBUSDT
Coinbase International BNB-PERP-INTX
Phoenix BNB
BloFin BNB-USDT
Bulk BNB-USD
dYdX BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P