Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

BTC

all BTC markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 04:00 UTC+0.0166%/8h= +18.2% APRnext payment +$1.66 per $10,000 · paid last 24h +0.001%
Price spread now: Kalshi against BingX+0.017%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$200.205% of the position
Long on BingXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days+0.023%+$2 on $10k
Price spread, last 7 days+0.033%+$3 · spread now +0.017%, 7d avg +0.036%
Together, before fees+0.056%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTC-USDC86,304.50.0046pay 0.0046% / 8h7h 50m—$15.4M—
ShortKalshi KXBTCPERP86,3190.0212get 0.0212% / 8h3h 50m$9.6M$759.8M6.4x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against BingX. 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
$34.85
Price spread: +0.017% → +0.036%
−$1.96
Slippage, 4 orders
−$0.47
Fee BingX: 5 bp × 2 orders
−$10
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$12.42
Costs to cover
0.205%
Break-even
4.5 days
Slippage from BingX: live order book, 7 min ago; Kalshi: live order book, 3 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 BingX live order book, 7 min ago0.01 bp5.0 bp −$56.1 bp −$616.8 bp −$6777.8 bp −$3,885
Sell Kalshi live order book, 3 min ago0.06 bp5.3 bp −$56.7 bp −$677.7 bp −$76912.4 bp −$6,206

BTC on 56 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
Phoenix BTC−0.0129%1h86,441+0.158%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,297−0.009%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,304.60.000%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,324.8+0.024%$461K$22.1M6.7xas long as short
dYdX BTC-USD+0.0003%1h86,307.1+0.003%$16.9M$20.6M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,351.4+0.054%$36.9M—200xas long as short
Bluefin BTC-PERP+0.0007%1h86,350.6+0.053%$140K$663K40xas long as short
Aster BTCUSDT+0.0014%8h86,307.6+0.004%$500.5M$1.15B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.361%$333K$26.9M52xas long as short
KuCoin XBTUSDTM+0.0029%8h86,307.7+0.004%$830.2M$722.9M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0041%1h86,308.4+0.004%$6.7M$145.7M40xas long as short
BingX BTC-USDClong+0.0046%8h86,304.5long leg—$15.4M—
SoDEX BTC-USD+0.0050%1h86,314+0.011%$60.4M$338.1M40xas long as short
RISEx BTC/USDC+0.0052%1h86,299.4−0.006%$8.3M$42.9M25xas long as short
Bitget BTCUSDT+0.0059%8h86,312.5+0.009%$2.97B$5.10B150xas long as short
Deribit BTC-PERPETUAL+0.0062%1h86,356.4+0.060%$903.3M$1.51B50xas long as short
ApeX Omni BTCUSDT+0.0069%1h86,448.9+0.167%$141.6M$323.3M100xas long as short
Aevo BTC-PERP+0.0072%1h86,488.1+0.213%$2.5M$1.4M20xas long as short
Binance BTCUSDT+0.0076%8h86,309.5+0.006%$9.41B$24.53B150xas long as short
MEXC BTC_USDT+0.0076%8h86,308.1+0.004%$5.13B$5.66B500xas long as short
Gate BTC_USDT+0.0077%8h86,318.2+0.016%$5.83B$10.47B200xas long as short
Lighter BTC+0.0096%1h86,329.8+0.029%$170.0M$981.4M50xas long as short
Lighter RH BTC+0.0096%1h86,320.7+0.019%$23.7M$148.7M50xas long as short
GRVT BTC_USDT_Perp+0.0096%8h86,431.6+0.147%$216.9M$167.8M50xas long as short
Popdex BTCUSDT+0.0096%1h86,293−0.013%$8.4M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,269−0.041%$204K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,331.6+0.031%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,278.9−0.030%$22.1M$232.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,389+0.098%$3.79B$5.04B40xas long as short
Pacifica BTC+0.0100%1h86,326.6+0.026%$40.7M$540.8M50xas long as short
Bybit BTCUSDT+0.0100%8h86,320.1+0.018%$5.26B$9.75B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,325.2+0.024%$2.56B$12.64B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,294−0.012%$3.9M$18.1M25xas long as short
Arcus BTC-USD+0.0100%1h86,320.9+0.019%$7.3M$96.0M40xas long as short
Bulk BTC-USD+0.0100%1h86,523.6+0.254%$572.9M$12.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,298.1−0.007%$37.5M$155.4M75xas long as short
Variational Omni BTC+0.0100%8h86,309.8+0.006%$157.9M$567.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,419.2+0.133%$279.1M$949.0M100xas long as short
StandX BTC-USD+0.0100%1h86,338+0.039%$30.6M$208.4M40xas long as short
Vest BTC-PERP+0.0100%1h86,350.2+0.053%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,299−0.006%$11.1M$14.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,322+0.020%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,308.9+0.005%$2.5M$9.1M100xas long as short
Derive BTC-PERP+0.0100%1h86,345.8+0.048%$30.4M$62.7M15xas long as short
SunX BTC-USDT+0.0100%8h86,315.8+0.013%$3.4M$5.3M100xas long as short
HTX BTC-USDT+0.0100%8h86,312.9+0.010%$2.29B$967.7M200xas long as short
Phemex BTCUSDT+0.0100%8h86,318+0.016%$152.9M$478.7M150xas long as short
Extended BTC-USD+0.0104%1h86,286.7−0.021%$45.9M$224.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,310.5+0.007%—$99.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,353.3+0.057%$132.8M$5.57B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,345.5+0.047%$192.4M$950.9M100xas long as short
Aftermath Perps BTCUSD+0.0165%1h86,442+0.159%$76K$219K20xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,388.4+0.097%$714K$8.0M30xas long as short
BloFin BTC-USDT+0.0196%8h86,301−0.004%$414.7M$654.0M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0201% / S −0.0214%1h86,341.2+0.043%$14.5M—200xas long as short
Kalshi KXBTCPERPshort+0.0212%8h86,319+0.017%$9.6M$759.8M6.4x