Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0159%/8h= +17.4% APRnext payment +$1.59 per $10,000 · paid last 24h +0.001%
Price spread now: Kalshi against BingX+0.038%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$210.210% of the position
Long on BingXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days+0.023%+$2 on $10k
Price spread, last 7 days+0.018%+$2 · spread now +0.038%, 7d avg +0.036%
Together, before fees+0.041%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTC-USDC86,419.20.0050pay 0.0050% / 8h7h 26m—$15.3M—
ShortKalshi KXBTCPERP86,4520.0209get 0.0209% / 8h3h 26m$10.3M$763.3M6.4x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against BingX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$33.44
Price spread: +0.038% → +0.036%
$0.15
Slippage, 4 orders
−$0.98
Fee BingX: 5 bp × 2 orders
−$10
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$12.61
Costs to cover
0.210%
Break-even
4.4 days
Slippage from BingX: live order book, 11 min ago; Kalshi: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 11 min ago0.02 bp5.0 bp −$55.4 bp −$546.1 bp −$6097.4 bp −$3,690
Sell Kalshi live order book, 2 min ago0.23 bp5.5 bp −$66.4 bp −$647.8 bp −$78212.8 bp −$6,411

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0317%1h86,462.6+0.050%$144K$666K40xas long as short
Phoenix BTC−0.0129%1h86,403−0.019%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,406−0.015%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,450.2+0.036%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,418.4−0.001%$481K$21.5M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,444+0.029%$36.9M—200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,358−0.071%$343K$26.9M52xas long as short
Aster BTCUSDT+0.0025%8h86,428.8+0.011%$501.2M$1.13B200xas long as short
dYdX BTC-USD+0.0027%1h86,436+0.019%$16.9M$20.5M50xas long as short
Phemex BTCUSDT+0.0040%8h86,426.7+0.009%$154.6M$473.5M150xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin XBTUSDTM+0.0042%8h86,431.3+0.014%$832.2M$719.1M125xas long as short
Reya BTCRUSDPERP+0.0046%1h86,441.9+0.026%$6.7M$145.7M40xas long as short
BingX BTC-USDClong+0.0050%8h86,419.2long leg—$15.3M—
RISEx BTC/USDC+0.0052%1h86,431.8+0.015%$8.3M$42.4M25xas long as short
Bitget BTCUSDT+0.0063%8h86,426.2+0.008%$2.97B$5.03B150xas long as short
Deribit BTC-PERPETUAL+0.0066%1h86,466.7+0.055%$902.4M$1.51B50xas long as short
MEXC BTC_USDT+0.0078%8h86,426.6+0.009%$5.14B$5.70B500xas long as short
Aevo BTC-PERP+0.0080%1h86,417.7−0.002%$2.5M$1.8M20xas long as short
Binance BTCUSDT+0.0080%8h86,428.7+0.011%$9.42B$24.26B150xas long as short
SoDEX BTC-USD+0.0095%1h86,426+0.008%$60.4M$338.2M40xas long as short
Lighter BTC+0.0096%1h86,441+0.025%$170.7M$986.7M50xas long as short
Lighter RH BTC+0.0096%1h86,441.7+0.026%$23.7M$149.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,430+0.012%$8.4M$52.0M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,401−0.021%$201K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,420+0.001%$4.2M$8.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,414.3−0.006%$22.0M$227.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,499+0.092%$3.79B$5.00B40xas long as short
Pacifica BTC+0.0100%1h86,431.2+0.014%$41.1M$552.2M50xas long as short
Bybit BTCUSDT+0.0100%8h86,450.1+0.036%$5.26B$9.65B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,458.8+0.046%$2.56B$12.48B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,421+0.002%$3.9M$17.8M25xas long as short
Arcus BTC-USD+0.0100%1h86,446.2+0.031%$7.2M$94.8M40xas long as short
Gate BTC_USDT+0.0100%8h86,433.6+0.017%$5.80B$10.55B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,423.1+0.005%$37.4M$158.5M75xas long as short
Variational Omni BTC+0.0100%8h86,377.3−0.049%$158.2M$561.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,360.7−0.068%$278.9M$948.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,400.1−0.022%$217.0M$165.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,364.6−0.063%$141.6M$320.8M100xas long as short
StandX BTC-USD+0.0100%1h86,430+0.013%$30.7M$209.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,474.4+0.064%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,448+0.033%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,436+0.019%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,427.6+0.010%$2.4M$8.9M100xas long as short
Derive BTC-PERP+0.0100%1h86,453.2+0.039%$30.5M$58.1M15xas long as short
SunX BTC-USDT+0.0100%8h86,395.1−0.028%$3.4M$5.2M100xas long as short
HTX BTC-USDT+0.0100%8h86,413.7−0.006%$2.29B$962.2M200xas long as short
Bulk BTC-USD+0.0100%1h86,411.1−0.009%$576.0M$32.8M40xas long as short
Extended BTC-USD+0.0104%1h86,405.6−0.016%$45.9M$221.7M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,464+0.052%—$98.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,466+0.054%$132.3M$5.38B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,453.2+0.039%$192.4M$941.9M100xas long as short
Aftermath Perps BTCUSD+0.0168%1h86,418.90.000%$78K$217K20xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,440+0.024%$711K$7.9M30xas long as short
BloFin BTC-USDT+0.0200%8h86,423.1+0.005%$416.2M$645.5M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0205% / S −0.0220%1h86,441.1+0.025%$14.5M—200xas long as short
Kalshi KXBTCPERPshort+0.0209%8h86,452+0.038%$10.3M$763.3M6.4x