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

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0089%/8h= +9.7% APRnext payment +$0.89 per $10,000 · paid last 24h −0.008%
Price spread now: Kalshi against HTX+0.057%7-day average +0.011% · 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−$18as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Long on HTXShort 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 3 days (all we have)+0.035%+$3 · spread now +0.057%, 7d avg +0.011%
Together, before fees+0.058%+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kalshi is 0.046% dearer against HTX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.011%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHTX BTC-USDT86,540.80.0100pay 0.0100% / 8h1h 45m$2.30B$958.7M200x
ShortKalshi KXBTCPERP86,5900.0189get 0.0189% / 8h5h 45m$9.6M$726.1M6.4x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against HTX. 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
$18.64
Price spread: +0.057% → +0.011%
$4.56
Slippage, 4 orders
−$0.7
Fee HTX: 6 bp × 2 orders
−$12
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$0.51
Costs to cover
0.227%
Break-even
6.8 days
Slippage from HTX: live order book, 4 min ago; Kalshi: live order book, 4 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 HTX live order book, 4 min ago0.01 bp6.0 bp −$66.0 bp −$606.0 bp −$6038.3 bp −$4,163
Sell Kalshi live order book, 4 min ago0.17 bp5.3 bp −$56.7 bp −$677.5 bp −$75011.6 bp −$5,807

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
Bluefin BTC-PERP−0.1588%1h86,597.6+0.066%$140K$618K40xas long as short
Aftermath Perps BTCUSD−0.0185%1h86,578.5+0.044%$79K$199K20xas long as short
Phoenix BTC−0.0159%1h86,518−0.026%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,570+0.034%$9K$3K50xas long as short
dYdX BTC-USD−0.0016%1h86,587.1+0.054%$17.5M$20.3M50xas long as short
01 Exchange BTCUSD−0.0008%1h86,570.8+0.035%$359K$2.4M50xas long as short
Aster BTCUSDT−0.0007%8h86,600+0.068%$505.6M$1.15B200xas long as short
Perpl BTC0.0000%43m86,570.3+0.034%$419K$24.1M6.7xas long as short
KuCoin XBTUSDTM+0.0002%8h86,584.5+0.051%$852.1M$708.4M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,586.8+0.053%$36.8M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,552.1+0.013%$8.6M$43.2M25xas long as short
Reya BTCRUSDPERP+0.0022%1h86,549.8+0.010%$6.7M$144.7M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.021%$315K$26.8M52xas long as short
Hibachi BTC/USDT-P+0.0024%1h86,569.5+0.033%$733K$8.1M30xas long as short
Phemex BTCUSDT+0.0024%8h86,583.5+0.049%$149.7M$473.0M150xas long as short
BingX BTC-USDT+0.0031%8h86,576.1+0.041%—$1.59B—as long as short
Bitget BTCUSDT+0.0040%8h86,600+0.068%$2.95B$5.07B150xas long as short
Aevo BTC-PERP+0.0056%1h86,574.8+0.039%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0059%8h86,620.3+0.092%$5.18B$5.63B500xas long as short
Binance BTCUSDT+0.0059%8h86,623.9+0.096%$9.43B$24.33B150xas long as short
Gate BTC_USDT+0.0083%8h86,570.9+0.035%$5.86B$10.63B200xas long as short
SoDEX BTC-USD+0.0086%1h86,583+0.049%$60.5M$336.8M40xas long as short
Deribit BTC-PERPETUAL+0.0088%1h86,625.2+0.098%$925.1M$1.47B50xas long as short
Bybit BTCUSDT+0.0088%8h86,628.8+0.102%$5.27B$9.71B150xas long as short
Nado BTC-PERP+0.0096%1h86,563.1+0.026%$21.8M$233.6M50xas long as short
Lighter BTC+0.0096%1h86,610.5+0.081%$172.4M$998.7M50xas long as short
Lighter RH BTC+0.0096%1h86,639+0.113%$24.0M$151.7M50xas long as short
Popdex BTCUSDT+0.0096%1h86,546+0.006%$8.5M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,534−0.008%$206K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,661.4+0.139%$4.7M$8.3M50xas long as short
Hyperliquid BTC+0.0100%1h86,653+0.130%$3.81B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,645+0.120%$40.9M$504.7M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,619.3+0.091%$2.55B$12.69B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,621+0.093%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,618.1+0.089%$7.4M$93.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,527.4−0.015%$571.7M$19.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,575+0.040%$38.3M$152.7M75xas long as short
Variational Omni BTC+0.0100%8h86,521.5−0.022%$156.7M$571.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,522.6−0.021%$279.4M$942.8M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,535.2−0.006%$217.1M$182.2M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,530.4−0.012%$141.4M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,567.6+0.031%$30.7M$202.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,597.8+0.066%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,548+0.008%$11.1M$13.5M50xas long as short
Bullet BTC-USD+0.0100%1h86,566.3+0.029%$194K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,584.8+0.051%$2.4M$8.6M100xas long as short
Derive BTC-PERP+0.0100%1h86,575.2+0.040%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,570.5+0.034%$3.4M$5.4M100xas long as short
HTX BTC-USDTlong+0.0100%8h86,540.8long leg$2.30B$958.7M200x
Extended BTC-USD+0.0104%1h86,558.8+0.021%$46.4M$224.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,584+0.050%—$98.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,629.9+0.103%$132.0M$5.74B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,620.2+0.092%$191.4M$936.8M100xas long as short
BloFin BTC-USDT+0.0178%8h86,540.3−0.001%$415.3M$653.8M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0208%1h86,578.4+0.043%$15.1M—200xas long as short
Kalshi KXBTCPERPshort+0.0189%8h86,590+0.057%$9.6M$726.1M6.4x