BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0124%/8h= +13.6% APRnext payment +$1.24 per $10,000 · paid last 24h −0.007%

Price spread now: Kalshi against Paradex−0.045%7-day average −0.013% · 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−$19as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on Paradex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.051%−$5 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.045%, 7d avg −0.013%

Together, before fees+0.031%+ Points / potential airdropParadex: Active · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.032% cheaper against Paradex than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of −0.013%). If the spread goes back, that is −$3 on $10k: about 20 hours of funding at the current rate (+$4 a day). Mind the row above: over the last 4 days funding on this pair cost −0.051%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,651.4	0.0100	pay 0.0100% / 8h	3h 43m	$5.7M	$9.4M	50x
Short	Kalshi KXBTCPERP	85,613	0.0224	get 0.0224% / 8h	7h 43m	$12.0M	$756.0M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Paradex. 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 ParadexbpFee KalshibpOrdersPrice spread, now −0.045%Rate

Funding earned: $26.03
Price spread: −0.045% → −0.013%: −$3.15
Slippage, 4 orders: −$2.08
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $6.8
Costs to cover: 0.161%
Break-even: 5.2 days

Slippage from Paradex: live order book, just now; Kalshi: 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 Paradex live order book, just now	0.77 bp	2.8 bp −$3	2.8 bp −$28	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	0.06 bp	5.3 bp −$5	7.2 bp −$72	7.8 bp −$781	12.5 bp −$6,264

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
Phoenix BTC	−0.0140%	1h	85,589	−0.073%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,610	−0.048%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0040%	8h	85,571.5	−0.093%	$916.7M	$756.6M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,627	−0.029%	$418.4M	$675.8M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,605.4	−0.054%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0001%	1h	85,576.3	−0.088%	$24.7M	$222.4M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,631.4	−0.023%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,596.6	−0.064%	$36.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0007%	1h	85,620.9	−0.036%	$884.3M	$1.59B	50x	as long as short
Aster BTCUSDT	+0.0009%	8h	85,568.7	−0.097%	$515.3M	$1.10B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.045%	$340K	$26.9M	52x	as long as short
BingX BTC-USDC	+0.0065%	8h	85,568.1	−0.097%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0071%	8h	85,586.2	−0.076%	$148.5M	$491.6M	150x	as long as short
SoDEX BTC-USD	+0.0075%	1h	85,580	−0.083%	$60.0M	$336.1M	40x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,580.8	−0.082%	$2.95B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0093%	1h	85,584	−0.079%	$6.6M	$147.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,594.9	−0.066%	$172.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,599.3	−0.061%	$24.0M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,591	−0.071%	$8.7M	$54.7M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,577.2	−0.087%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,568	−0.097%	$203K	$8.2M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,651.4	long leg	$5.7M	$9.4M	50x
Hyperliquid BTC	+0.0100%	1h	85,670.1	+0.022%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,617.1	−0.040%	$40.6M	$584.8M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,580.3	−0.083%	$9.41B	$24.31B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,575.9	−0.088%	$5.19B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,589.1	−0.073%	$2.59B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,579	−0.085%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,580.7	−0.083%	$4.4M	$98.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,587.5	−0.075%	$5.54B	$10.77B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,581.8	−0.081%	$5.07B	$5.64B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,574.3	−0.090%	$36.0M	$177.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,612.6	−0.045%	$153.5M	$564.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,612.9	−0.045%	$279.7M	$927.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,585.1	−0.077%	$215.0M	$169.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,627.8	−0.028%	$140.0M	$315.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,627.5	−0.028%	$30.3M	$207.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,656	+0.005%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,592	−0.069%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,584.6	−0.078%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,576.8	−0.087%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,630.9	−0.024%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,573.8	−0.091%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,560.3	−0.106%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,582.4	−0.081%	$2.27B	$946.3M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	+0.016%	$677.0M	$718.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,554.8	−0.113%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,614.3	−0.043%	—	$107.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,618.9	−0.038%	$117.0M	$5.22B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,602.3	−0.057%	$187.9M	$955.3M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,626.4	−0.029%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,594.9	−0.066%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERPshort	+0.0224%	8h	85,613	−0.045%	$12.0M	$756.0M	6.4x
Aftermath Perps BTCUSD	+0.0232%	1h	85,631.9	−0.023%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,635.5	−0.019%	$696K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,598.2	−0.062%	$500K	$18.8M	6.7x	as long as short