Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0100%/8hnext payment +$1.00 per $10,000 · paid last 24h +0.001%

Price spread now: HTX against Kalshi−0.069%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Kalshi Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now −0.069%, 7d avg −0.024%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.045% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of −0.024%). If the spread goes back, that is −$4 on $10k: about 36 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	801.20	0	get 0.0000% / 8h	21m 20s	$107K	$2.7M	4.8x
Short	HTX BNB-USDT	800.64	0.0100	get 0.0100% / 8h	4h 21m	$8.2M	$6.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.069%Rate

Funding earned: $21
Price spread: −0.069% → −0.024%: −$4.5
Slippage, 4 orders: −$15.18
Fee Kalshi: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$20.67
Costs to cover: 0.372%
Break-even: 13.9 days

Slippage from Kalshi: live order book, 1 min ago; HTX: 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	1.87 bp	6.9 bp −$7	13.7 bp −$137	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	2.02 bp	9.5 bp −$9	11.7 bp −$117	45.8 bp −$4,577	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 −0.0195% / S +0.0371%	1h	799.95	−0.156%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.33	−0.109%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.17	−0.004%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERPlong	0.0000%	8h	801.20	long leg	$107K	$2.7M	4.8x
StandX BNB-USD	0.0000%	1h	800.83	−0.046%	$866K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0008%	1h	799.95	−0.156%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	800.43	−0.096%	$19K	$407K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	800.37	−0.104%	$601K	$904K	50x	as long as short
Variational Omni BNB	+0.0072%	8h	799.45	−0.219%	$4.1M	$5.5M	—	as long as short
BingX BNB-USDT	+0.0080%	8h	799.91	−0.161%	—	$33.8M	—	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	800.46	−0.092%	$2.9M	$3.9M	20x	as long as short
Aster BNBUSDT	+0.0097%	8h	800.63	−0.072%	$6.3M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.70	−0.187%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.29	−0.114%	$1.2M	$916K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	799.43	−0.221%	$138.3M	$87.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.60	−0.200%	$55.0M	$116.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.20	−0.125%	$53K	$221K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.70	−0.187%	$35.9M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.88	−0.165%	$27.9M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.56	−0.205%	$78.4M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.41	+0.027%	$4.2M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.23	+0.004%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.00	−0.150%	$118K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.72	−0.185%	$386K	$627K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.58	−0.077%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.30	+0.013%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.60	−0.075%	$394K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	800.88	−0.039%	$1.6M	$159K	25x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	800.64	−0.069%	$8.2M	$6.9M	75x
Bulk BNB-USD	+0.0100%	1h	801.29	+0.011%	$651K	$16K	10x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.74	−0.057%	$78K	$19K	50x	as long as short
Binance BNBUSDT	+0.0101%	8h	800.41	−0.099%	$516.2M	$802.2M	75x	as long as short
MEXC BNB_USDT	+0.0102%	8h	801.00	−0.025%	$84.0M	$15.2M	200x	as long as short
Phemex BNBUSDT	+0.0103%	8h	801.00	−0.025%	$70.1M	$51.6M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.71	−0.186%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.69	−0.063%	$385K	$40K	10x	as long as short
Phoenix BNB	+0.0151%	1h	801.63	+0.054%	$172K	$28K	10x	as long as short
RISEx BNB/USDC	+0.0165%	1h	800.23	−0.121%	$1.1M	$1.4M	20x	as long as short
Kraken Futures PF_BNBUSD	+0.0185%	1h	800.49	−0.089%	$2.5M	$924K	50x	as long as short
BloFin BNB-USDT	+0.0222%	8h	801.21	+0.001%	$19.0M	$3.0M	75x	as long as short
Hyperliquid BNB	+0.0247%	1h	800.67	−0.066%	$51.4M	$21.4M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	800.75	−0.056%	$28K	$1K	10x	as long as short
Hibachi BNB/USDT-P	+0.0328%	1h	801.01	−0.023%	$71K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	799.75	−0.181%	$9K	—	40x	as long as short
dYdX BNB-USD	+0.0356%	1h	800.22	−0.122%	$169K	$55K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0694%	1h	801.40	+0.025%	$3.0M	$5.3M	40x	as long as short