BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0102%/8h= −11.2% APRnext payment −$1.02 per $10,000 · paid last 24h −0.017%

Price spread now: KuCoin against Kalshi−0.055%49s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.227% of the position

Long on Kalshi Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.055%, 7d avg +0.002%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.057% cheaper against Kalshi than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.002%). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBTCPERP	85,977	0.0157	pay 0.0157% / 8h	54m 24s	$12.9M	$739.1M	6.4x
Short	KuCoin XBTUSDTM	85,929.7	0.0055	get 0.0055% / 8h	4h 54m	$943.5M	$634.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kalshi. 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

Position, each leg$Hold fordaysFee KalshibpFee KuCoinbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$21.49
Price spread: −0.055% → +0.002%: −$5.72
Slippage, 4 orders: −$0.67
Fee Kalshi: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.88
Costs to cover: 0.227%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; KuCoin: live order book, 3 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, 3 min ago	0.12 bp	5.2 bp −$5	6.8 bp −$68	7.6 bp −$763	12.4 bp −$6,211
Sell KuCoin live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	7.9 bp −$790	doesn't fit

BTC on 56 exchanges

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	−0.0133%	1h	85,910	−0.078%	$2.1M	$7.7M	40x	as long as short
Perpl BTC	−0.0112%	43m	85,943.5	−0.039%	$459K	$13.4M	6.7x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,965	−0.014%	$8K	$2K	50x	as long as short
ApeX Omni BTCUSDT	−0.0053%	1h	85,936.3	−0.047%	$137.8M	$288.4M	100x	as long as short
BloFin BTC-USDT	−0.0044%	8h	85,950.2	−0.031%	$422.9M	$550.0M	150x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	85,934.7	−0.049%	$368K	$1.8M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,971	−0.007%	$16.9M	$13.6M	50x	as long as short
Injective BTC/USDC PERP	+0.0001%	1h	85,924	−0.062%	$321K	$27.6M	52x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,963.3	−0.016%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	85,922.2	−0.064%	$511.5M	$837.7M	200x	as long as short

Show all 56 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	+0.0019%	1h	85,966	−0.013%	$192.4M	$740.5M	100x	as long as short
SoDEX BTC-USD	+0.0020%	1h	85,950	−0.031%	$65.9M	$187.2M	40x	as long as short
BingX BTC-USDC	+0.0047%	8h	85,931.3	−0.053%	—	$16.1M	—	as long as short
Popdex BTCUSDT	+0.0048%	1h	85,934	−0.050%	$8.6M	$45.6M	100x	as long as short
KuCoin XBTUSDTMshort	+0.0055%	8h	85,929.7	−0.055%	$943.5M	$634.4M	125x
Bybit BTCUSDT	+0.0059%	8h	85,931.1	−0.053%	$5.14B	$7.98B	150x	as long as short
Phemex BTCUSDT	+0.0064%	8h	85,949.7	−0.032%	$170.7M	$474.2M	150x	as long as short
MEXC BTC_USDT	+0.0076%	8h	85,946.5	−0.035%	$5.16B	$4.68B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	85,949.5	−0.032%	$9.42B	$20.10B	150x	as long as short
Gate BTC_USDT	+0.0080%	8h	85,944.1	−0.038%	$5.51B	$8.74B	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,932.1	−0.052%	$2.4M	$6.8M	20x	as long as short
HTX BTC-USDT	+0.0080%	8h	85,948.5	−0.033%	$2.27B	$774.4M	200x	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,933.7	−0.050%	$3.00B	$3.85B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,938.9	−0.044%	$172.9M	$826.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,939.6	−0.044%	$23.7M	$116.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,906	−0.083%	$228K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,953.9	−0.027%	$5.9M	$7.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,933.8	−0.050%	$23.3M	$189.7M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,964.5	−0.015%	$40.3M	$568.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,935	−0.049%	$2.63B	$9.15B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,924	−0.062%	$4.0M	$14.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,964.2	−0.015%	$4.8M	$91.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,928.9	−0.056%	$38.3M	$195.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,938.4	−0.045%	$156.6M	$472.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,869.8	−0.125%	$289.5M	$732.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,933.6	−0.050%	$215.8M	$132.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,950.1	−0.031%	$30.2M	$227.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,985.1	+0.009%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,936	−0.048%	$11.1M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,959.1	−0.021%	$215K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,943.5	−0.039%	$2.6M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,976.3	−0.001%	$143K	$607K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,005.8	+0.033%	$29.1M	$44.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,959.7	−0.020%	$3.3M	$6.7M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,951.1	−0.030%	$715.0M	$86.6M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,894.4	−0.096%	$47.2M	$192.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,964.4	−0.015%	—	$79.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0128%	1h	85,991.9	+0.017%	$112.0M	$4.93B	50x	as long as short
Kalshi KXBTCPERPlong	+0.0157%	8h	85,977	long leg	$12.9M	$739.1M	6.4x
RISEx BTC/USDC	+0.0165%	1h	85,963.5	−0.016%	$9.1M	$35.5M	25x	as long as short
Reya BTCRUSDPERP	+0.0172%	1h	85,924.1	−0.062%	$6.6M	$126.2M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0174%	1h	85,998.6	+0.025%	$820.1M	$1.50B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	85,960	−0.020%	$15.5M	—	200x	as long as short
Hyperliquid BTC	+0.0241%	1h	86,039	+0.072%	$3.96B	$4.16B	40x	as long as short
Hibachi BTC/USDT-P	+0.0312%	1h	86,003	+0.030%	$696K	$6.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0330%	1h	85,938.6	−0.045%	$79K	$228K	20x	as long as short