Funding you earn now, next payment 06:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.004%
Price spread now: Arcus against Kalshi−0.036%7-day average +0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$160.161% of the position
Funding, last 4 days (all we have)+0.039%+$4 on $10k
+Price spread, last 7 days+0.046%+$5 · spread now −0.036%, 7d avg +0.035%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Arcus is 0.071% cheaper against Kalshi than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.035%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBTCPERP | 85,533 | 0.0211 | pay 0.0211% / 8h | 6h 04m | $11.4M | $743.6M | 6.4x |
| Short | Arcus BTC-USD | 85,502.5 | 0.0100 | get 0.0013% / 1h | 4m 04s | $4.6M | $98.8M | 40x |
Kalshi KXBTCPERP
Arcus BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Kalshi. 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
- −$23.35
- Price spread: −0.036% → +0.035%
- −$7.07
- Slippage, 4 orders
- −$1.62
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$46.54
- Costs to cover
- 0.161%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 5 min ago; Arcus: live order book, 5 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 Kalshi live order book, 5 min ago | 0.06 bp | 5.3 bp −$5 | 6.7 bp −$67 | 7.5 bp −$748 | 12.0 bp −$5,984 |
| Sell Arcus live order book, 5 min ago | 0.01 bp | 2.4 bp −$2 | 2.9 bp −$29 | 4.2 bp −$422 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,508.2 | −0.029% | $528K | $18.3M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,577 | +0.051% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,524 | −0.011% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0051% | 8h | 85,488.6 | −0.052% | $929.0M | $771.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,517.3 | −0.018% | $417.9M | $684.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 85,486.3 | −0.055% | $514.1M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,514.2 | −0.022% | $354K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,535.9 | +0.003% | $16.8M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,515.3 | −0.021% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,349 | −0.215% | $339K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0035% | 1h | 85,528.6 | −0.005% | $869.0M | $1.62B | 50x | as long as short |
| Nado BTC-PERP | +0.0043% | 1h | 85,499.8 | −0.039% | $24.6M | $222.5M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,502.4 | −0.036% | $188.4M | $953.9M | 100x | as long as short |
| BingX BTC-USDC | +0.0069% | 8h | 85,479.6 | −0.062% | — | $17.5M | — | as long as short |
| Phemex BTCUSDT | +0.0080% | 8h | 85,496 | −0.043% | $148.9M | $507.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0087% | 8h | 85,481.5 | −0.060% | $2.96B | $5.18B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,500.6 | −0.038% | $171.3M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,497.3 | −0.042% | $23.7M | $149.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,505 | −0.033% | $8.4M | $55.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,495.3 | −0.044% | $2.4M | $6.7M | 20x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,527.6 | −0.006% | $117.2M | $5.45B | 50x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,493 | −0.047% | $5.01B | $5.77B | 500x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,489 | −0.051% | $9.45B | $24.92B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,477 | −0.065% | $236K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,551.1 | +0.021% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,573 | +0.047% | $3.76B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,529.4 | −0.004% | $40.0M | $598.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,483.2 | −0.058% | $5.15B | $9.98B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,482.3 | −0.059% | $2.59B | $12.25B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,491 | −0.049% | $3.8M | $17.4M | 25x | as long as short |
| Arcus BTC-USDshort | +0.0100% | 1h | 85,502.5 | −0.036% | $4.6M | $98.8M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,501.7 | −0.037% | $682.6M | $531.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,495.6 | −0.044% | $5.52B | $11.10B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,481.8 | −0.060% | $36.6M | $178.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535.9 | +0.003% | $155.0M | $560.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,505.3 | −0.032% | $280.0M | $952.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,535.3 | +0.003% | $214.9M | $167.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,531.6 | −0.002% | $139.8M | $314.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,542 | +0.011% | $30.2M | $207.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,572.3 | +0.046% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,500 | −0.039% | $11.0M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,505 | −0.033% | $204K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,517.2 | −0.018% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,537.3 | +0.005% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,485 | −0.056% | $30.0M | $48.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,479.1 | −0.063% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,490 | −0.050% | $59.8M | $336.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,493.1 | −0.047% | $2.26B | $942.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,469.9 | −0.074% | $44.5M | $240.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,526.6 | −0.008% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0120% | 1h | 85,496.3 | −0.043% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,513.5 | −0.023% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERPlong | +0.0211% | 8h | 85,533 | long leg | $11.4M | $743.6M | 6.4x | |
| Aftermath Perps BTCUSD | +0.0233% | 1h | 85,552.4 | +0.023% | $79K | $228K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,566 | +0.039% | $694K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,530 | −0.004% | $8.8M | $43.3M | 25x | as long as short |
Deribit BTC-PERPETUAL
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Coinbase International BTC-PERP-INTX
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC