Funding you earn now, next payment 08:00 UTC+0.0072%/8h= +7.9% APRnext payment +$0.72 per $10,000 · paid last 24h +0.009%
Price spread now: Kalshi against Gate+0.052%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$260.257% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 7 days−0.024%−$2 · spread now +0.052%, 7d avg −0.001%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.054% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate BTC_USDT | 85,219.5 | 0.0100 | pay 0.0100% / 8h | 36m 50s | $5.49B | $11.05B | 200x |
| Short | Kalshi KXBTCPERP | 85,264 | 0.0172 | get 0.0172% / 8h | 4h 36m | $12.0M | $736.7M | 6.4x |
Gate BTC_USDT
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Gate. 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
- $15.06
- Price spread: +0.052% → −0.001%
- $5.35
- Slippage, 4 orders
- −$0.75
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$5.33
- Costs to cover
- 0.257%
- Break-even
- 9.5 days
Slippage from Gate: live order book, 2 min ago; Kalshi: live order book, 2 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 Gate live order book, 2 min ago | 0.01 bp | 7.5 bp −$8 | 7.7 bp −$77 | 9.1 bp −$911 | 12.3 bp −$6,147 |
| Sell Kalshi live order book, 2 min ago | 0.12 bp | 5.2 bp −$5 | 6.6 bp −$66 | 7.4 bp −$735 | 11.5 bp −$5,769 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,262 | +0.050% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,354 | +0.158% | $2.3M | $10.8M | 40x | as long as short |
| KuCoin XBTUSDTM | −0.0024% | 8h | 85,218.6 | −0.001% | $929.0M | $775.6M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,235.9 | +0.019% | $420.5M | $681.9M | 150x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,184.1 | −0.042% | $509.4M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,224.3 | +0.006% | $346K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,258.3 | +0.046% | $481K | $18.4M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0004% | 1h | 85,225.3 | +0.007% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,227.3 | +0.009% | $36.5M | — | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,231.1 | +0.014% | $185.6M | $953.6M | 100x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0063% | 1h | 85,387.6 | +0.197% | $139.8M | $312.7M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,249 | +0.035% | $338K | $24.7M | 52x | as long as short |
| BingX BTC-USDC | +0.0067% | 8h | 85,183.7 | −0.042% | — | $17.4M | — | as long as short |
| Deribit BTC-PERPETUAL | +0.0080% | 1h | 85,258.5 | +0.046% | $840.9M | $1.66B | 50x | as long as short |
| Bybit BTCUSDT | +0.0081% | 8h | 85,179.5 | −0.047% | $5.12B | $10.00B | 150x | as long as short |
| Nado BTC-PERP | +0.0087% | 1h | 85,266 | +0.055% | $24.0M | $220.4M | 50x | as long as short |
| Bitget BTCUSDT | +0.0092% | 8h | 85,186.1 | −0.039% | $2.97B | $5.19B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,201.8 | −0.021% | $168.4M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,202.8 | −0.020% | $23.6M | $148.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,235 | +0.018% | $8.4M | $57.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,226.4 | +0.008% | $2.4M | $6.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,192.7 | −0.031% | $9.39B | $25.09B | 150x | as long as short |
| MEXC BTC_USDT | +0.0098% | 8h | 85,222.5 | +0.004% | $5.04B | $5.74B | 500x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,208 | −0.013% | $270K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,300.9 | +0.096% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,271 | +0.060% | $3.74B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,220.7 | +0.001% | $39.9M | $606.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,196.7 | −0.027% | $2.59B | $12.20B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,238 | +0.022% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,249.8 | +0.036% | $4.7M | $96.9M | 40x | as long as short |
| Gate BTC_USDTlong | +0.0100% | 8h | 85,219.5 | long leg | $5.49B | $11.05B | 200x | |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,213.5 | −0.007% | $37.3M | $186.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,361.8 | +0.167% | $156.0M | $553.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,300.9 | +0.096% | $282.9M | $956.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,333.8 | +0.134% | $214.3M | $158.5M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,322.9 | +0.121% | $30.1M | $210.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,299 | +0.093% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,232 | +0.015% | $10.9M | $14.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,221.8 | +0.003% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,216.3 | −0.004% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,253.3 | +0.040% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,205.8 | −0.016% | $29.9M | $45.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,215.5 | −0.005% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,215 | −0.005% | $59.6M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,215 | −0.005% | $2.25B | $969.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,227.5 | +0.009% | $158.9M | $514.8M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,299.3 | +0.094% | $693.1M | $258.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,195.6 | −0.028% | $45.5M | $241.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,221.1 | +0.002% | — | $106.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,265 | +0.053% | $111.9M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0138% | 1h | 85,207.8 | −0.014% | $6.6M | $145.8M | 40x | as long as short |
| Kalshi KXBTCPERPshort | +0.0172% | 8h | 85,264 | +0.052% | $12.0M | $736.7M | 6.4x | |
| RISEx BTC/USDC | +0.0174% | 1h | 85,251.1 | +0.037% | $8.8M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,226.8 | +0.009% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,345.5 | +0.148% | $683K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0297% | 1h | 85,360.2 | +0.165% | $79K | $252K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDC
Deribit BTC-PERPETUAL
Bybit BTCUSDT
Nado BTC-PERP
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD