Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.074%

Price spread now: Kalshi against Hibachi+0.016%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.661%−$66 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BNB/USDT-P	787.37	0.0320	pay 0.0040% / 1h	44m 37s	$67K	$37K	12x
Short	Kalshi KXBNBPERP	787.50	0	get 0.0000% / 8h	1h 44m	$144K	$2.5M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hibachi. 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 HibachibpFee KalshibpOrdersPrice spread, now +0.016%Rate

Funding earned: −$67.2
Price spread: +0.016% → 0.000%: $1.6
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$84.6
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	2.54 bp	8.7 bp −$9	13.4 bp −$134	doesn't fit	doesn't fit

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BNB on 45 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
GMX BNB/USD [WBTC.b-USDC]	L −0.0166% / S +0.0336%	1h	787.00	−0.047%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0085%	1h	786.95	−0.054%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.94	+0.072%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.75	+0.047%	$5.9M	$17.0M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.72	+0.044%	$2.9M	$26.5M	10x	as long as short
Kalshi KXBNBPERPshort	0.0000%	8h	787.50	+0.016%	$144K	$2.5M	4.8x
StandX BNB-USD	0.0000%	1h	788.21	+0.106%	$850K	$2.9M	30x	as long as short
Deribit BNB_USDC-PERPETUAL	0.0000%	1h	787.37	−0.001%	$1.5M	$157K	25x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.11	−0.034%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0015%	8h	788.80	+0.181%	$83.3M	$11.7M	200x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0015%	8h	787.81	+0.056%	$481.5M	$761.2M	75x	as long as short
Bybit BNBUSDT	+0.0030%	8h	786.80	−0.073%	$138.4M	$65.7M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.250%	$19K	$789K	30x	as long as short
BloFin BNB-USDT	+0.0059%	8h	787.98	+0.077%	$18.5M	$2.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	787.31	−0.008%	$2.7M	$3.3M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.75	−0.079%	$1.4M	$2.3M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.74	+0.046%	$51.9M	$16.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.43	+0.008%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.00	−0.047%	$53.3M	$101.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	+0.003%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.10	−0.035%	$41.3M	$53.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.98	−0.050%	$28.2M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.95	−0.054%	$75.8M	$30.9M	75x	as long as short
BingX BNB-USDT	+0.0100%	8h	787.31	−0.008%	—	$50.1M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.68	+0.039%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.05	−0.041%	$4.3M	$4.4M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.74	+0.046%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.45	+0.010%	$158K	$455K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.91	−0.059%	$130K	$903K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.08	−0.037%	$264K	$297K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.68	+0.038%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.20	−0.022%	$387K	$926K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.67	+0.037%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.61	+0.030%	$78K	$656K	50x	as long as short
Phemex BNBUSDT	+0.0103%	8h	787.74	+0.046%	$68.4M	$51.1M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.74	−0.080%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.91	−0.059%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0120%	1h	788.06	+0.087%	$158K	$45K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.59	+0.027%	$544K	$1.9M	50x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.57	+0.025%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0297%	1h	788.11	+0.093%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	786.64	−0.094%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-Plong	+0.0320%	1h	787.37	long leg	$67K	$37K	12x
RISEx BNB/USDC	+0.0393%	1h	787.55	+0.022%	$1.1M	$900K	20x	as long as short
dYdX BNB-USD	+0.1124%	1h	787.47	+0.013%	$158K	$34K	10x	as long as short