Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: Kalshi against Pacifica+0.066%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now +0.066%, 7d avg −0.011%

Together, before fees−0.111%+ Points / potential airdropPacifica: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.077% dearer against Pacifica than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of −0.011%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BNB	805.47	0.0100	pay 0.0013% / 1h	48m 36s	$1.2M	$924K	20x
Short	Kalshi KXBNBPERP	806.00	0	get 0.0000% / 8h	5h 48m	$108K	$2.5M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now +0.066%Rate

Funding earned: −$21
Price spread: +0.066% → −0.011%: $7.69
Slippage, 4 orders: −$10.93
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$42.24
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Pacifica: live order book, just now; 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 Pacifica live order book, just now	1.80 bp	5.9 bp −$6	9.6 bp −$96	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	3.11 bp	8.1 bp −$8	14.7 bp −$147	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 −0.0195% / S +0.0371%	1h	805.06	−0.051%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.68	+0.026%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.039%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	806.00	+0.066%	$108K	$2.5M	4.8x
StandX BNB-USD	0.0000%	1h	805.19	−0.035%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.11	−0.044%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.135%	$4.1M	$5.3M	—	as long as short
Hibachi BNB/USDT-P	+0.0056%	1h	805.18	−0.036%	$71K	$48K	12x	as long as short
BingX BNB-USDT	+0.0057%	8h	805.27	−0.025%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0085%	8h	804.90	−0.071%	$139.5M	$82.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.52	+0.007%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	+0.036%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.99	−0.059%	$1.5M	$2.8M	20x	as long as short
Pacifica BNBlong	+0.0100%	1h	805.47	long leg	$1.2M	$924K	20x
OKX BNB-USDT-SWAP	+0.0100%	8h	805.00	−0.058%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.60	+0.016%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.10	−0.046%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.14	−0.041%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.77	−0.087%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	−0.004%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	+0.016%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.00	−0.058%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.18	−0.036%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.36	−0.014%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.79	+0.040%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.32	−0.018%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.85	+0.047%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	805.94	+0.058%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.78	−0.086%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.45	−0.003%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.30	+0.103%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.94	+0.058%	$520.7M	$804.9M	75x	as long as short
Phemex BNBUSDT	+0.0134%	8h	805.92	+0.056%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0145%	1h	805.40	−0.009%	$396K	$1.0M	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.39	−0.010%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0157%	1h	805.95	+0.060%	$51.8M	$22.0M	10x	as long as short
dYdX BNB-USD	+0.0186%	1h	805.13	−0.043%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.39	−0.010%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.81	+0.042%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	+0.010%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.72	+0.031%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.047%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.51	+0.005%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.73	−0.092%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	806.22	+0.093%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0712%	1h	806.40	+0.115%	$3.0M	$5.5M	40x	as long as short