BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0209%/8h= +22.8% APRnext payment +$2.09 per $10,000 · paid last 24h +0.025%

Price spread now: Kalshi against BloFin+0.083%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on BloFin Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.083%, 7d avg +0.005%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kalshi is 0.078% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.005%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.09 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BTC-USDT	85,357.3	−0.0030	get 0.0030% / 8h	2h 47m	$420.3M	$676.2M	150x
Short	Kalshi KXBTCPERP	85,428	0.0178	get 0.0178% / 8h	6h 47m	$11.4M	$749.7M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against BloFin. 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 BloFinbpFee KalshibpOrdersPrice spread, now +0.083%Rate

Funding earned: $43.82
Price spread: +0.083% → +0.005%: $7.82
Slippage, 4 orders: −$0.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $29.14
Costs to cover: 0.225%
Break-even: 2.3 days

Slippage from BloFin: live order book, 7 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 7 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.7 bp −$673	7.6 bp −$3,812
Sell Kalshi live order book, 2 min ago	0.06 bp	5.3 bp −$5	6.6 bp −$66	7.5 bp −$750	12.0 bp −$5,995

BTC on 56 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
Phoenix BTC	−0.0111%	1h	85,432	+0.088%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,428	+0.083%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,358.7	+0.002%	$920.0M	$760.8M	125x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,401.9	+0.052%	$381K	$2.3M	50x	as long as short
BloFin BTC-USDTlong	−0.0030%	8h	85,357.3	long leg	$420.3M	$676.2M	150x
Aster BTCUSDT	−0.0011%	8h	85,366.7	+0.011%	$513.5M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,420.5	+0.074%	$533K	$18.8M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,452.6	+0.112%	$16.8M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,397.2	+0.047%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0012%	1h	85,396.1	+0.045%	$24.6M	$223.9M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,449	+0.107%	$339K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,385.5	+0.033%	$187.8M	$955.0M	100x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,349.5	−0.009%	—	$17.3M	—	as long as short
SoDEX BTC-USD	+0.0070%	1h	85,358	+0.001%	$59.8M	$335.9M	40x	as long as short
Bullet BTC-USD	+0.0070%	1h	85,375	+0.021%	$203K	$3.3M	20x	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,374.5	+0.020%	$149.3M	$501.1M	150x	as long as short
ApeX Omni BTCUSDT	+0.0076%	1h	85,463	+0.124%	$139.7M	$315.4M	100x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,364.7	+0.009%	$2.95B	$5.15B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,357.7	+0.001%	$2.4M	$6.7M	20x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,358.6	+0.002%	$9.43B	$24.73B	150x	as long as short
MEXC BTC_USDT	+0.0090%	8h	85,360.3	+0.004%	$5.07B	$5.67B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,375.2	+0.021%	$171.7M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,373.7	+0.019%	$23.8M	$147.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,394	+0.043%	$8.4M	$55.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,406.1	+0.057%	$116.8M	$5.31B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,384	+0.031%	$238K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,454.4	+0.114%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,451	+0.110%	$3.78B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,438.5	+0.095%	$40.1M	$595.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,358.8	+0.002%	$5.17B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,367.9	+0.012%	$2.59B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,408	+0.059%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,404.4	+0.055%	$4.7M	$99.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,370.4	+0.015%	$5.53B	$10.81B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,356.1	−0.001%	$36.5M	$174.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453.4	+0.113%	$154.3M	$564.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,425.6	+0.080%	$279.4M	$939.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,475.7	+0.139%	$214.8M	$169.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,452.1	+0.111%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,471.8	+0.134%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,391	+0.039%	$11.1M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,368.4	+0.013%	$2.3M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,410.8	+0.063%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,346.7	−0.012%	$30.0M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,363.5	+0.007%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,362.7	+0.006%	$2.26B	$952.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,429	+0.084%	$679.8M	$655.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,337.1	−0.024%	$45.7M	$236.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,413.6	+0.066%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0110%	1h	85,378.5	+0.025%	$6.6M	$147.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0116%	1h	85,407	+0.058%	$872.2M	$1.60B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,392	+0.041%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERPshort	+0.0178%	8h	85,428	+0.083%	$11.4M	$749.7M	6.4x
Hibachi BTC/USDT-P	+0.0232%	1h	85,487.6	+0.153%	$695K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0236%	1h	85,446.4	+0.104%	$79K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,429	+0.084%	$8.8M	$43.1M	25x	as long as short