Funding you earn now, next payment 06:00 UTC−0.0042%/8h= −4.5% APRpaid last 24h +0.050%
Price spread now: Hyperliquid against Kalshi−0.047%7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$280.283% of the position
Funding, last 7 days+0.183%+$18 on $10k
+Price spread, last 7 days+0.029%+$3 · spread now −0.047%, 7d avg +0.001%
=Together, before fees+0.212%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hyperliquid is 0.048% cheaper against Kalshi than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.001%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.183%, 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 | 786.10 | 0.0142 | pay 0.0142% / 8h | 6h 34m | $141K | $2.7M | 4.8x |
| Short | Hyperliquid BNB | 785.73 | 0.0100 | get 0.0013% / 1h | 34m 07s | $51.6M | $17.5M | 10x |
Kalshi KXBNBPERP
Hyperliquid BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.72
- Price spread: −0.047% → +0.001%
- −$4.8
- Slippage, 4 orders
- −$9.28
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$41.8
- Costs to cover
- 0.283%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 4 min ago; Hyperliquid: live order book, 9 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, 4 min ago | 3.18 bp | 9.4 bp −$9 | 15.3 bp −$153 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 0.06 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | 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 −0.0192% / S +0.0356% | 1h | 785.09 | −0.129% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 786.02 | −0.010% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.58 | +0.188% | $849K | $3.0M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 785.13 | −0.124% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0030% | 8h | 785.74 | −0.046% | $6.1M | $19.0M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.416% | $19K | $789K | 30x | as long as short |
| BingX BNB-USDT | +0.0041% | 8h | 785.32 | −0.099% | — | $22.1M | — | as long as short |
| Phemex BNBUSDT | +0.0048% | 8h | 785.61 | −0.062% | $68.7M | $50.7M | 50x | as long as short |
| MEXC BNB_USDT | +0.0052% | 8h | 786.10 | 0.000% | $79.7M | $11.8M | 200x | as long as short |
| Binance BNBUSDT | +0.0053% | 8h | 785.60 | −0.063% | $489.0M | $808.8M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
Injective BNB/USDC PERP
BingX BNB-USDT
Phemex BNBUSDT
MEXC BNB_USDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_BNBUSD | +0.0069% | 1h | 785.05 | −0.134% | $2.5M | $1.2M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 786.23 | +0.017% | $576K | $1.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 785.29 | −0.103% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 785.15 | −0.121% | $264K | $490K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 785.40 | −0.089% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNBshort | +0.0100% | 1h | 785.73 | −0.047% | $51.6M | $17.5M | 10x | |
| Pacifica BNB | +0.0100% | 1h | 785.92 | −0.023% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 785.08 | −0.130% | $137.9M | $74.5M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 785.00 | −0.140% | $53.3M | $112.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 785.80 | −0.038% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 785.15 | −0.121% | $36.3M | $58.4M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 784.82 | −0.163% | $27.5M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 784.90 | −0.153% | $76.0M | $30.7M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 785.75 | −0.045% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 786.03 | −0.009% | $4.0M | $4.9M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 786.25 | +0.020% | $4.1M | $75.0M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 786.54 | +0.056% | $158K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 785.33 | −0.098% | $131K | $952K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 785.24 | −0.109% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.06 | −0.005% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 785.20 | −0.114% | $386K | $994K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 785.33 | −0.098% | $8.0M | $10.0M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 785.98 | −0.016% | $76K | $17K | 50x | as long as short |
| dYdX BNB-USD | +0.0100% | 1h | 785.67 | −0.054% | $159K | $61K | 10x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 784.79 | −0.167% | $1.8M | $6.4M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 785.08 | −0.130% | $377K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0107% | 1h | 786.44 | +0.043% | $169K | $35K | 10x | as long as short |
| Kalshi KXBNBPERPlong | +0.0142% | 8h | 786.10 | long leg | $141K | $2.7M | 4.8x | |
| BloFin BNB-USDT | +0.0173% | 8h | 787.24 | +0.145% | $17.8M | $2.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0205% | 8h | 786.66 | +0.071% | $2.9M | $29.3M | 10x | as long as short |
| Bulk BNB-USD | +0.0256% | 1h | 786.23 | +0.017% | $637K | $10K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0288% | 1h | 786.11 | +0.001% | $28K | $4K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 785.46 | −0.081% | $1.5M | $143K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0323% | 1h | 785.26 | −0.107% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0432% | 1h | 785.91 | −0.024% | $1.1M | $909K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0480% | 1h | 786.93 | +0.105% | $67K | $39K | 12x | as long as short |
Kraken Futures PF_BNBUSD
Coinbase International BNB-PERP-INTX
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
dYdX BNB-USD
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
BloFin BNB-USDT
GRVT BNB_USDT_Perp
Bulk BNB-USD
01 Exchange BNBUSD
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P