Funding you earn now, next payment 07:00 UTC+0.0263%/8h= +28.8% APRpaid last 24h +0.046%
Price spread now: Kalshi against Hotstuff+0.077%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kalshi is 0.077% dearer against Hotstuff than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 85,485 | −0.0080 | get 0.0010% / 1h | 20m 16s | $8K | $3K | 50x |
| Short | Kalshi KXBTCPERP | 85,551 | 0.0183 | get 0.0183% / 8h | 5h 20m | $11.8M | $742.1M | 6.4x |
Hotstuff BTC-PERP
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Hotstuff. 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
- $55.32
- Price spread: +0.077% → 0.000%
- $7.72
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $48.04
- Costs to cover
- 0.150%
- Break-even
- 0.9 days
Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 4 min ago. 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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 4 min ago | 0.23 bp | 5.3 bp −$5 | 6.5 bp −$65 | 7.4 bp −$743 | 11.9 bp −$5,964 |
Hotstuff: 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.
BTC on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,446 | −0.046% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 85,485 | long leg | $8K | $3K | 50x | |
| KuCoin XBTUSDTM | −0.0041% | 8h | 85,529 | +0.051% | $929.4M | $774.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0025% | 8h | 85,495.3 | +0.012% | $420.7M | $684.5M | 150x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,517.8 | +0.038% | $513.6M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,539.1 | +0.063% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,558.9 | +0.086% | $490K | $18.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,517.7 | +0.038% | $16.8M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,512.3 | +0.032% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0039% | 1h | 85,492.9 | +0.009% | $24.4M | $222.6M | 50x | as long as short |
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.278% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0072% | 8h | 85,531.1 | +0.054% | — | $1.57B | — | as long as short |
| Popdex BTCUSDT | +0.0088% | 1h | 85,528 | +0.050% | $8.4M | $56.5M | 100x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,544.2 | +0.069% | $186.3M | $960.2M | 100x | as long as short |
| Bitget BTCUSDT | +0.0091% | 8h | 85,534.6 | +0.058% | $2.97B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0094% | 8h | 85,525.1 | +0.047% | $5.03B | $5.77B | 500x | as long as short |
| Binance BTCUSDT | +0.0095% | 8h | 85,532.5 | +0.056% | $9.44B | $24.99B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,544.3 | +0.069% | $170.3M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,540 | +0.064% | $23.6M | $148.3M | 50x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,530.8 | +0.054% | $2.4M | $6.7M | 20x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 85,512.2 | +0.032% | $5.15B | $9.99B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,507 | +0.026% | $243K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,585.3 | +0.117% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,619 | +0.157% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,550.1 | +0.076% | $40.0M | $602.6M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,496.1 | +0.013% | $2.60B | $12.27B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,490 | +0.006% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,512 | +0.032% | $5.2M | $98.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,499.5 | +0.017% | $686.3M | $379.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,541.5 | +0.066% | $5.56B | $11.05B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,487.7 | +0.003% | $37.4M | $178.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,463.4 | −0.025% | $155.5M | $557.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,436.9 | −0.056% | $279.9M | $951.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,445.2 | −0.047% | $214.5M | $164.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,447.2 | −0.044% | $139.7M | $313.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,485 | 0.000% | $30.1M | $205.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,595.7 | +0.129% | — | $10.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,549 | +0.075% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,539.1 | +0.063% | $200K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,537.6 | +0.062% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,580.1 | +0.111% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,484.2 | −0.001% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,533 | +0.056% | $59.9M | $336.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,535.7 | +0.059% | $2.26B | $967.0M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,535.6 | +0.059% | $153.7M | $511.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,515.1 | +0.035% | $44.9M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,504.7 | +0.023% | — | $105.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,567.4 | +0.096% | $114.6M | $5.50B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0131% | 1h | 85,540.1 | +0.064% | $6.6M | $147.7M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0139% | 1h | 85,575.7 | +0.106% | $861.8M | $1.63B | 50x | as long as short |
| Kalshi KXBTCPERPshort | +0.0183% | 8h | 85,551 | +0.077% | $11.8M | $742.1M | 6.4x | |
| RISEx BTC/USDC | +0.0193% | 1h | 85,554.8 | +0.082% | $8.8M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0176% | 1h | 85,542 | +0.067% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,498.8 | +0.016% | $685K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0254% | 1h | 85,467.5 | −0.020% | $79K | $230K | 20x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDT
Popdex BTCUSDT
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Aevo BTC-PERP
Bybit BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD