BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.40 per $10,000 · paid last 24h +0.001%

Price spread now: Orderly against Kalshi−0.069%7-day average +0.010% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.163%+$16 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.069%, 7d avg +0.010%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.079% cheaper against Kalshi than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.163%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	786.90	0.0140	pay 0.0140% / 8h	5h 41m	$170K	$2.7M	4.8x
Short	Orderly PERP_BNB_USDC	786.36	0.0100	get 0.0100% / 8h	1h 41m	$264K	$470K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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

Position, each leg$Hold fordaysFee KalshibpFee OrderlybpOrdersPrice spread, now −0.069%Rate

Funding earned: −$8.39
Price spread: −0.069% → +0.010%: −$7.9
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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	3.81 bp	8.8 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0170% / S +0.0337%	1h	786.32	−0.074%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.70	−0.025%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.060%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.31	−0.075%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.312%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0049%	8h	787.08	+0.023%	$6.1M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.51	−0.050%	—	$13.4M	—	as long as short
dYdX BNB-USD	+0.0063%	1h	786.47	−0.055%	$159K	$62K	10x	as long as short
Binance BNBUSDT	+0.0066%	8h	787.02	+0.015%	$490.3M	$816.4M	75x	as long as short
MEXC BNB_USDT	+0.0066%	8h	787.50	+0.076%	$81.0M	$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
Phemex BNBUSDT	+0.0078%	8h	786.89	−0.001%	$68.8M	$50.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	−0.003%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.60	−0.038%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.20	−0.089%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.64	−0.034%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	−0.064%	$138.4M	$75.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.064%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	−0.025%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.057%	$37.2M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.24	−0.084%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.28	−0.079%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.125%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.84	−0.007%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.27	−0.080%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.22	−0.086%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	786.36	−0.069%	$264K	$470K	50x
Derive BNB-PERP	+0.0100%	1h	786.58	−0.041%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.07	+0.022%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.40	−0.064%	$387K	$984K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.38	−0.066%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.97	+0.008%	$76K	$17K	50x	as long as short
Backpack BNB_USDC_PERP	+0.0102%	1h	786.72	−0.023%	$2.2M	$6.1M	40x	as long as short
Extended BNB-USD	+0.0104%	1h	786.18	−0.092%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.40	−0.063%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0111%	1h	786.98	+0.010%	$51.5M	$17.7M	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.68	−0.028%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERPlong	+0.0140%	8h	786.90	long leg	$170K	$2.7M	4.8x
BloFin BNB-USDT	+0.0187%	8h	787.15	+0.032%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.80	−0.013%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.25	−0.083%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.04	+0.018%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	786.97	+0.009%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.023%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.06	−0.107%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.75	−0.019%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	787.00	+0.012%	$67K	$39K	12x	as long as short