Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h −0.001%

Price spread now: Kalshi against edgeX−0.027%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on edgeX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.027%, 7d avg −0.052%

Together, before fees−0.094%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.025% dearer against edgeX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.052%. Mind the row above: over the last 7 days funding on this pair cost −0.181%, 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	edgeX BNBUSDC	793.72	0.0100	pay 0.0050% / 4h	2h 16m	$4.1M	$76.9M	30x
Short	Kalshi KXBNBPERP	793.50	0.0155	get 0.0155% / 8h	2h 16m	$113K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against edgeX. 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 edgeXbpFee KalshibpOrdersPrice spread, now −0.027%Rate

Funding earned: $11.48
Price spread: −0.027% → −0.052%: $2.45
Slippage, 4 orders: −$11.27
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$16.33
Costs to cover: 0.303%
Break-even: 17.0 days

Slippage from edgeX: live order book, 2 min ago; Kalshi: live order book, 2 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 edgeX live order book, 2 min ago	1.89 bp	6.4 bp −$6	6.4 bp −$64	9.7 bp −$968	doesn't fit
Sell Kalshi live order book, 2 min ago	3.15 bp	9.3 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit

BNB on 45 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
GMX BNB/USD [WBTC.b-USDC]	L −0.0167% / S +0.0335%	1h	793.12	−0.075%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.36	−0.045%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.57	−0.018%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	793.90	+0.023%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.19	−0.066%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.433%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	793.97	+0.032%	$6.1M	$19.7M	200x	as long as short
Variational Omni BNB	+0.0038%	8h	794.10	+0.049%	$4.1M	$4.9M	—	as long as short
Phemex BNBUSDT	+0.0049%	8h	793.89	+0.022%	$69.4M	$50.7M	50x	as long as short
BingX BNB-USDC	+0.0050%	8h	793.47	−0.031%	—	$13.4M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.229%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	794.10	+0.048%	$82.5M	$12.8M	200x	as long as short
Gate BNB_USDT	+0.0062%	8h	793.25	−0.059%	$35.4M	$56.6M	75x	as long as short
Binance BNBUSDT	+0.0062%	8h	793.90	+0.023%	$493.8M	$810.1M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0069%	8h	793.89	+0.022%	$3.0M	$28.4M	10x	as long as short
dYdX BNB-USD	+0.0081%	1h	792.96	−0.095%	$160K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	794.20	+0.061%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.56	−0.020%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.09	−0.079%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.06	−0.083%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.23	+0.065%	$52.0M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	793.52	−0.025%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.30	−0.052%	$138.7M	$75.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.10	−0.078%	$53.2M	$110.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.40	−0.040%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.14	−0.073%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.34	−0.047%	$77.3M	$28.1M	75x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	793.72	long leg	$4.1M	$76.9M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	793.68	−0.005%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.24	−0.060%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.37	−0.043%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.80	+0.011%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.40	−0.040%	$390K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.97	−0.094%	$8.1M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.95	+0.029%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.09	−0.079%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.42	−0.037%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.46	−0.032%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERPshort	+0.0155%	8h	793.50	−0.027%	$113K	$2.7M	4.8x
Bulk BNB-USD	+0.0195%	1h	795.93	+0.278%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	793.67	−0.006%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	793.73	+0.002%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	792.79	−0.117%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	794.06	+0.043%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	793.58	−0.017%	$68K	$38K	12x	as long as short