Funding you earn now, next payment 04:00 UTC+0.0126%/8h= +13.8% APRnext payment +$1.26 per $10,000 · paid last 24h −0.012%
Price spread now: Kalshi against Binance+0.109%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$210.209% of the position
Funding, last 7 days−0.009%−$1 on $10k
+Price spread, last 7 days−0.080%−$8 · spread now +0.109%, 7d avg −0.004%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kalshi is 0.114% dearer against Binance than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BTCUSDT | 85,390.5 | 0.0091 | pay 0.0091% / 8h | 4h 38m | $9.35B | $24.06B | 150x |
| Short | Kalshi KXBTCPERP | 85,484 | 0.0217 | get 0.0217% / 8h | 38m 37s | $10.4M | $758.7M | 6.4x |
Binance BTCUSDT
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Binance. 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
- $26.47
- Price spread: +0.109% → −0.004%
- $11.36
- Slippage, 4 orders
- −$0.85
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $16.98
- Costs to cover
- 0.209%
- Break-even
- 2.5 days
Slippage from Binance: live order book, 6 min ago; Kalshi: live order book, 6 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 Binance live order book, 6 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.1 bp −$507 | 6.7 bp −$3,365 |
| Sell Kalshi live order book, 6 min ago | 0.06 bp | 5.5 bp −$6 | 7.1 bp −$71 | 7.6 bp −$763 | 11.8 bp −$5,922 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0311% | 1h | 85,405.2 | +0.017% | $206K | $739K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,385 | −0.006% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,449 | +0.069% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,416.2 | +0.030% | $366K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0030% | 8h | 85,363.3 | −0.032% | $416.0M | $665.1M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0008% | 8h | 85,355.7 | −0.041% | $918.1M | $750.4M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,435.4 | +0.053% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,381 | −0.011% | $514.5M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0019% | 1h | 85,384.6 | −0.007% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,398.8 | +0.010% | $6.9M | $97.3M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0060% | 8h | 85,406.8 | +0.019% | — | $1.54B | — | as long as short |
| Nado BTC-PERP | +0.0061% | 1h | 85,422.1 | +0.037% | $22.9M | $219.1M | 50x | as long as short |
| Bitget BTCUSDT | +0.0076% | 8h | 85,415.3 | +0.029% | $2.95B | $5.03B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0079% | 1h | 85,418.9 | +0.033% | $6.7M | $146.7M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,359.3 | −0.036% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0090% | 8h | 85,399.3 | +0.010% | $5.06B | $5.60B | 500x | as long as short |
| Binance BTCUSDTlong | +0.0091% | 8h | 85,390.5 | long leg | $9.35B | $24.06B | 150x | |
| Lighter BTC | +0.0096% | 1h | 85,382.6 | −0.009% | $172.7M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,395 | +0.005% | $23.7M | $148.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,434 | +0.051% | $8.4M | $52.7M | 100x | as long as short |
| Phemex BTCUSDT | +0.0099% | 8h | 85,363 | −0.032% | $149.3M | $484.4M | 150x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,447.2 | +0.066% | $4.3M | $8.6M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,393 | +0.003% | $225K | $8.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,442 | +0.060% | $3.74B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,416.4 | +0.030% | $40.0M | $578.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,385.8 | −0.006% | $5.23B | $9.72B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,399.9 | +0.011% | $2.57B | $12.09B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,388 | −0.003% | $3.9M | $18.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,377.2 | −0.016% | $5.52B | $10.62B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,358.3 | −0.038% | $35.7M | $176.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,453.7 | +0.074% | $153.6M | $563.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,527.2 | +0.160% | $279.4M | $916.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,454 | +0.074% | $214.5M | $169.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,439.1 | +0.057% | $139.7M | $314.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,450 | +0.070% | $30.2M | $207.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,487.6 | +0.114% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,429 | +0.045% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,429 | +0.045% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,380 | −0.012% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,362.6 | −0.033% | $29.9M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,445.9 | +0.065% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,363 | −0.032% | $59.8M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,357.3 | −0.039% | $2.26B | $940.8M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,513.6 | +0.144% | $649.6M | $594.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,373.1 | −0.020% | $44.5M | $226.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,434.4 | +0.051% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,402.1 | +0.014% | $116.9M | $5.16B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0148% | 1h | 85,409.3 | +0.022% | $894.0M | $1.53B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | +0.174% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0171% | 1h | 85,378.1 | −0.015% | $188.2M | $954.4M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0153% | 1h | 85,436.8 | +0.054% | $13.4M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,443.8 | +0.062% | $8.3M | $42.4M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,536.6 | +0.171% | $692K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0200% | 1h | 85,508 | +0.138% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERPshort | +0.0217% | 8h | 85,484 | +0.109% | $10.4M | $758.7M | 6.4x | |
| Perpl BTC | +0.0447% | 43m | 85,467.1 | +0.090% | $497K | $18.9M | 6.7x | as long as short |
BingX BTC-USDT
Nado BTC-PERP
Bitget BTCUSDT
Reya BTCRUSDPERP
Aevo BTC-PERP
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Phemex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC