Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h +0.001%

Price spread now: edgeX against Kalshi+0.151%79s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as 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−$310.315% of the position

Long on Kalshi Short on edgeX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.061%−$6 · spread now +0.151%, 7d avg +0.027%

Together, before fees+0.121%+ Points / potential airdropedgeX: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.124% dearer against Kalshi than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of +0.027%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.181%, so the current rate has only just turned against you. The two prices were read 79 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 KXBNBPERP	789.80	0.0189	pay 0.0189% / 8h	1h 26m	$88K	$2.8M	4.8x
Short	edgeX BNBUSDC	790.99	0.0100	get 0.0050% / 4h	1h 26m	$4.1M	$75.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$18.74
Price spread: +0.151% → +0.027%: $12.39
Slippage, 4 orders: −$12.46
Fee Kalshi: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$37.81
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; edgeX: 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, 2 min ago	2.53 bp	11.1 bp −$11	17.7 bp −$177	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	1.90 bp	6.4 bp −$6	6.4 bp −$64	10.0 bp −$1,003	doesn't fit

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 −0.0167% / S +0.0335%	1h	789.39	−0.052%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.69	−0.014%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.25	+0.057%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.59	−0.027%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.936%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	790.10	+0.038%	$6.3M	$18.6M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.79	−0.001%	$617K	$1.8M	50x	as long as short
BingX BNB-USDC	+0.0059%	8h	789.55	−0.032%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0071%	8h	790.14	+0.043%	$69.2M	$51.2M	50x	as long as short
Binance BNBUSDT	+0.0076%	8h	790.29	+0.061%	$494.1M	$799.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0076%	8h	790.60	+0.101%	$80.3M	$12.4M	200x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.48	−0.041%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.79	−0.001%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.55	−0.032%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.50	−0.038%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.29	+0.062%	$51.8M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.74	−0.008%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.49	−0.039%	$138.9M	$77.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.60	−0.025%	$53.5M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.90	+0.013%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.55	−0.032%	$35.3M	$57.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.40	−0.051%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.42	−0.048%	$76.9M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.90	+0.013%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.29	−0.065%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	790.99	+0.151%	$4.1M	$75.2M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	791.27	+0.186%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.59	−0.027%	$135K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.78	−0.003%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.26	+0.058%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.31	−0.062%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	790.14	+0.043%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.29	−0.065%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.62	−0.023%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.21	+0.179%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0122%	1h	789.70	−0.013%	$388K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0141%	8h	791.10	+0.165%	$3.0M	$28.2M	10x	as long as short
Kalshi KXBNBPERPlong	+0.0189%	8h	789.80	long leg	$88K	$2.8M	4.8x
BloFin BNB-USDT	+0.0196%	8h	789.76	−0.005%	$18.1M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0233%	1h	789.57	−0.029%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	790.27	+0.060%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.33	−0.059%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.97	+0.022%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0383%	1h	789.79	−0.001%	$640K	$6K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	790.03	+0.030%	$1.5M	$143K	25x	as long as short
Hibachi BNB/USDT-P	+0.0600%	1h	789.58	−0.028%	$67K	$38K	12x	as long as short