BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0169%/8h= −18.5% APRnext payment −$1.69 per $10,000 · paid last 24h −0.008%

Price spread now: Bybit against Kalshi−0.113%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Kalshi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now −0.113%, 7d avg −0.050%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.062% cheaper against Kalshi than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.050%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.067%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	799.40	0.0155	pay 0.0155% / 8h	3h 27m	$90K	$2.8M	4.8x
Short	Bybit BNBUSDT	798.50	−0.0014	pay 0.0014% / 8h	7h 27m	$138.7M	$75.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$35.57
Price spread: −0.113% → −0.050%: −$6.23
Slippage, 4 orders: −$12.15
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$74.95
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Kalshi: live order book, 1 min ago; Bybit: 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 Kalshi live order book, 1 min ago	4.38 bp	9.4 bp −$9	18.9 bp −$189	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.63 bp	6.3 bp −$6	9.1 bp −$91	24.0 bp −$2,401	128.3 bp −$64.2K

BNB on 46 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 −0.0159% / S +0.0334%	1h	798.72	−0.085%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.69	−0.089%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.51	+0.014%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0028%	8h	799.25	−0.019%	—	$13.3M	—	as long as short
Bybit BNBUSDTshort	−0.0014%	8h	798.50	−0.113%	$138.7M	$75.5M	75x
GRVT BNB_USDT_Perp	0.0000%	8h	799.48	+0.010%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.70	+0.038%	$864K	$2.9M	30x	as long as short
Gate BNB_USDT	+0.0001%	8h	798.50	−0.113%	$35.8M	$56.4M	75x	as long as short
Variational Omni BNB	+0.0003%	8h	798.43	−0.122%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.83	−0.071%	$9.7M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0020%	8h	799.44	+0.005%	$69.8M	$50.2M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.712%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.12	−0.035%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0060%	8h	799.29	−0.014%	$6.2M	$19.2M	200x	as long as short
Binance BNBUSDT	+0.0081%	8h	799.29	−0.013%	$496.0M	$809.5M	75x	as long as short
MEXC BNB_USDT	+0.0082%	8h	799.60	+0.025%	$83.1M	$13.6M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.96	−0.055%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	798.91	−0.061%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.61	−0.099%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.10	−0.038%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.60	−0.100%	$54.3M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.20	−0.025%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.64	−0.095%	$27.9M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.48	−0.115%	$78.8M	$27.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.99	−0.051%	$4.2M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.82	−0.073%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.89	−0.064%	$117K	$878K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.74	−0.083%	$386K	$458K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.85	−0.069%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.26	−0.018%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.90	−0.063%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.70	−0.088%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.53	+0.017%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.38	−0.128%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.73	−0.084%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	−0.015%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.96	−0.056%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERPlong	+0.0155%	8h	799.40	long leg	$90K	$2.8M	4.8x
Hibachi BNB/USDT-P	+0.0200%	1h	799.61	+0.027%	$69K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.17	−0.029%	$1.6M	$161K	25x	as long as short
BloFin BNB-USDT	+0.0201%	8h	799.28	−0.015%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	799.57	+0.021%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0225%	1h	799.33	−0.009%	$161K	$63K	10x	as long as short
Hyperliquid BNB	+0.0306%	1h	799.59	+0.024%	$53.1M	$20.7M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.56	−0.105%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0392%	1h	799.50	+0.013%	$2.7M	$5.7M	40x	as long as short