Funding you earn now, next payment 04:00 UTC−0.0088%/8h= −9.6% APRnext payment −$0.88 per $10,000 · paid last 24h −0.003%
Price spread now: Phemex against Kalshi+0.061%7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$320.316% of the position
Funding, last 7 days+0.079%+$8 on $10k
+Price spread, last 3 days (all we have)−0.085%−$9 · spread now +0.061%, 7d avg +0.054%
=The price spread sits at its 7-day average of +0.054%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.079%, 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 | 791.70 | 0.0163 | pay 0.0163% / 8h | 2h 38m | $111K | $2.8M | 4.8x |
| Short | Phemex BNBUSDT | 792.18 | 0.0075 | get 0.0075% / 8h | 6h 38m | $69.3M | $50.5M | 50x |
Kalshi KXBNBPERP
Phemex BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$18.49
- Price spread: +0.061% → +0.054%
- $0.63
- Slippage, 4 orders
- −$9.64
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$49.5
- Costs to cover
- 0.316%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 5 min ago; Phemex: live order book, 6 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, 5 min ago | 3.78 bp | 8.8 bp −$9 | 13.9 bp −$139 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 0.63 bp | 6.8 bp −$7 | 7.3 bp −$73 | 11.2 bp −$1,122 | 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 | 790.83 | −0.110% | $46K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0132% | 1h | 791.80 | +0.013% | $2.5M | $1.0M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 791.72 | +0.003% | $4K | $239 | 25x | as long as short |
| Gate BNB_USDT | −0.0008% | 8h | 791.15 | −0.069% | $35.3M | $55.6M | 75x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 790.95 | −0.095% | $855K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 790.88 | −0.104% | $9.6M | — | 150x | as long as short |
| Variational Omni BNB | +0.0016% | 8h | 791.83 | +0.016% | $4.1M | $5.0M | — | as long as short |
| GRVT BNB_USDT_Perp | +0.0023% | 8h | 792.65 | +0.120% | $3.0M | $28.6M | 10x | as long as short |
| Aster BNBUSDT | +0.0030% | 8h | 791.78 | +0.010% | $6.1M | $19.9M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.691% | $19K | $789K | 30x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Gate BNB_USDT
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
GRVT BNB_USDT_Perp
Aster BNBUSDT
Injective BNB/USDC PERPShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX BNB-USD | +0.0039% | 1h | 791.10 | −0.076% | $160K | $63K | 10x | as long as short |
| BingX BNB-USDT | +0.0049% | 8h | 791.02 | −0.086% | — | $34.9M | — | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0056% | 1h | 791.17 | −0.067% | $607K | $1.1M | 50x | as long as short |
| MEXC BNB_USDT | +0.0060% | 8h | 791.90 | +0.025% | $82.1M | $12.7M | 200x | as long as short |
| Binance BNBUSDT | +0.0061% | 8h | 791.47 | −0.029% | $492.4M | $817.0M | 75x | as long as short |
| Phemex BNBUSDTshort | +0.0075% | 8h | 792.18 | +0.061% | $69.3M | $50.5M | 50x | |
| Phoenix BNB | +0.0088% | 1h | 793.58 | +0.237% | $171K | $36K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 791.54 | −0.020% | $2.8M | $4.0M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 791.47 | −0.029% | $383K | $409K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 791.30 | −0.051% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 791.57 | −0.016% | $1.2M | $926K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 790.80 | −0.114% | $137.9M | $77.3M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 790.90 | −0.101% | $53.1M | $111.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 791.30 | −0.051% | $52K | $134K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 790.71 | −0.125% | $27.5M | $10.0M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 790.73 | −0.123% | $77.0M | $28.4M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 793.83 | +0.269% | $4.1M | $76.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 794.01 | +0.292% | $160K | $436K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 791.06 | −0.081% | $110K | $889K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 791.69 | −0.001% | $31K | $9K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 792.21 | +0.064% | $13K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 791.70 | 0.000% | $389K | $995K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 790.89 | −0.103% | $8.1M | $8.7M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 791.55 | −0.019% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 790.82 | −0.111% | $1.7M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 791.60 | −0.013% | $380K | $110K | 10x | as long as short |
| Hyperliquid BNB | +0.0105% | 1h | 791.69 | −0.001% | $51.9M | $19.8M | 10x | as long as short |
| RISEx BNB/USDC | +0.0131% | 1h | 791.17 | −0.067% | $1.1M | $1.3M | 20x | as long as short |
| Kalshi KXBNBPERPlong | +0.0163% | 8h | 791.70 | long leg | $111K | $2.8M | 4.8x | |
| Bulk BNB-USD | +0.0167% | 1h | 793.21 | +0.191% | $644K | $10K | 10x | as long as short |
| BloFin BNB-USDT | +0.0182% | 8h | 794.06 | +0.298% | $18.1M | $2.5M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0240% | 1h | 791.49 | −0.027% | $28K | $2K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0329% | 1h | 790.81 | −0.112% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0394% | 1h | 792.52 | +0.104% | $2.7M | $5.7M | 40x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0400% | 1h | 792.10 | +0.051% | $1.5M | $161K | 25x | as long as short |
| Hibachi BNB/USDT-P | +0.0512% | 1h | 791.98 | +0.035% | $68K | $38K | 12x | as long as short |
dYdX BNB-USD
BingX BNB-USDT
Coinbase International BNB-PERP-INTX
MEXC BNB_USDT
Binance BNBUSDT
Phoenix BNB
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
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
Extended BNB-USD
Aevo BNB-PERP
Hyperliquid BNB
RISEx BNB/USDC
Bulk BNB-USD
BloFin BNB-USDT
01 Exchange BNBUSD
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP
Deribit BNB_USDC-PERPETUAL
Hibachi BNB/USDT-P