Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0345%/8h= +37.7% APRpaid last 24h +0.045%

Price spread now: RISEx against Kalshi−0.023%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.201%+$20 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.023%, 7d avg −0.025%

Together, before fees+0.240%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBNBPERP	787.90	0	get 0.0000% / 8h	2h 07m	$139K	$2.5M	4.8x
Short	RISEx BNB/USDC	787.72	0.0345	get 0.0043% / 1h	7m 53s	$1.1M	$910K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.023%Rate

Funding earned: $72.36
Price spread: −0.023% → −0.025%: $0.23
Slippage, 4 orders: −$12.18
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $44.42
Costs to cover: 0.282%
Break-even: 2.7 days

Slippage from Kalshi: live order book, 4 min ago; RISEx: live order book, 4 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	2.54 bp	11.3 bp −$11	17.0 bp −$170	doesn't fit	doesn't fit
Sell RISEx live order book, 4 min ago	1.65 bp	4.6 bp −$5	7.2 bp −$72	doesn't fit	doesn't fit

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	787.36	−0.069%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.21	+0.039%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.99	+0.011%	$6.0M	$17.3M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	788.25	+0.044%	$2.9M	$26.5M	10x	as long as short
Kalshi KXBNBPERPlong	0.0000%	8h	787.90	long leg	$139K	$2.5M	4.8x
StandX BNB-USD	0.0000%	1h	787.59	−0.039%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.35	−0.070%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0019%	8h	789.10	+0.152%	$83.4M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0020%	8h	787.98	+0.011%	$482.2M	$774.2M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.182%	$19K	$789K	30x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0035%	1h	787.27	−0.080%	$2.5M	$1.3M	50x	as long as short
Bybit BNBUSDT	+0.0064%	8h	787.10	−0.102%	$138.6M	$67.7M	75x	as long as short
BloFin BNB-USDT	+0.0079%	8h	787.96	+0.008%	$17.7M	$2.2M	75x	as long as short
Phoenix BNB	+0.0094%	1h	788.17	+0.034%	$158K	$45K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.58	−0.041%	$2.7M	$3.4M	20x	as long as short
Phemex BNBUSDT	+0.0097%	8h	788.07	+0.022%	$68.5M	$51.0M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.19	−0.090%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.97	+0.009%	$51.8M	$16.9M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.65	−0.031%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.076%	$53.3M	$103.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.70	−0.025%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.30	−0.076%	$40.9M	$55.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.21	−0.088%	$28.2M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.14	−0.096%	$75.6M	$31.8M	75x	as long as short
BingX BNB-USDT	+0.0100%	8h	787.53	−0.047%	—	$22.0M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.82	−0.010%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.37	−0.067%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.12	+0.028%	$4.1M	$75.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.82	−0.010%	$159K	$444K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.43	−0.060%	$130K	$909K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.40	−0.063%	$264K	$298K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.99	+0.011%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.038%	$387K	$925K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.65	−0.032%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.86	−0.005%	$78K	$336K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.92	−0.125%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.36	−0.069%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0136%	1h	788.03	+0.016%	$545K	$1.9M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.76	−0.017%	$1.5M	$157K	25x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.96	+0.008%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0263%	1h	787.91	+0.001%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	786.99	−0.116%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0335%	1h	787.28	−0.078%	$158K	$34K	10x	as long as short
Hibachi BNB/USDT-P	+0.0336%	1h	787.63	−0.034%	$67K	$37K	12x	as long as short
RISEx BNB/USDCshort	+0.0345%	1h	787.72	−0.023%	$1.1M	$910K	20x