BNB

Alert: funding

Alert: spread

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: Kalshi against Phemex−0.061%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

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%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

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 cost −0.079%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	792.18	0.0075	pay 0.0075% / 8h	6h 38m	$69.3M	$50.5M	50x
Short	Kalshi KXBNBPERP	791.70	0.0163	get 0.0163% / 8h	2h 38m	$111K	$2.8M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.061%Rate

Funding earned: $18.49
Price spread: −0.061% → −0.054%: −$0.62
Slippage, 4 orders: −$9.64
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$13.77
Costs to cover: 0.316%
Break-even: 12.2 days

Slippage from Phemex: live order book, 5 min ago; Kalshi: live order book, 5 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 Phemex live order book, 5 min ago	0.63 bp	7.2 bp −$7	7.8 bp −$78	11.4 bp −$1,141	doesn't fit
Sell Kalshi live order book, 5 min ago	3.78 bp	8.8 bp −$9	14.2 bp −$142	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 −0.0167% / S +0.0335%	1h	791.46	−0.091%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	791.80	−0.048%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.94	−0.157%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0008%	8h	791.40	−0.098%	$35.3M	$55.6M	75x	as long as short
StandX BNB-USD	0.0000%	1h	790.95	−0.155%	$855K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.61	−0.073%	$9.6M	—	150x	as long as short
Variational Omni BNB	+0.0016%	8h	791.83	−0.045%	$4.1M	$5.0M	—	as long as short
GRVT BNB_USDT_Perp	+0.0023%	8h	792.65	+0.059%	$3.0M	$28.6M	10x	as long as short
Aster BNBUSDT	+0.0028%	8h	792.15	−0.004%	$6.1M	$19.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.630%	$19K	$789K	30x	as long as short

Show 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	−0.137%	$160K	$63K	10x	as long as short
BingX BNB-USDT	+0.0049%	8h	791.67	−0.064%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.127%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	792.40	+0.028%	$82.1M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	792.06	−0.015%	$492.7M	$817.3M	75x	as long as short
Phemex BNBUSDTlong	+0.0075%	8h	792.18	long leg	$69.3M	$50.5M	50x
Phoenix BNB	+0.0088%	1h	793.58	+0.177%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	791.54	−0.081%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.47	−0.090%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.10	−0.136%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	791.56	−0.078%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.33	−0.107%	$138.0M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.30	−0.111%	$53.1M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.40	−0.098%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.34	−0.106%	$27.6M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.15	−0.130%	$77.1M	$28.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.83	+0.208%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.01	+0.231%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.52	−0.083%	$111K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.69	−0.062%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.21	+0.004%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.70	−0.061%	$389K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.89	−0.163%	$8.1M	$8.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	791.59	−0.075%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.21	−0.123%	$1.7M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.60	−0.074%	$380K	$110K	10x	as long as short
Hyperliquid BNB	+0.0107%	1h	791.86	−0.040%	$51.9M	$19.8M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	791.25	−0.117%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERPshort	+0.0163%	8h	791.70	−0.061%	$111K	$2.8M	4.8x
Bulk BNB-USD	+0.0167%	1h	793.21	+0.130%	$644K	$10K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.06	+0.237%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	791.51	−0.085%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	791.26	−0.116%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0394%	1h	792.52	+0.043%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	792.10	−0.010%	$1.5M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	790.50	−0.212%	$68K	$38K	12x	as long as short