Funding you earn now, next payment 12:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.95 per $10,000 · paid last 24h −0.005%
Price spread now: Kalshi against Bybit+0.009%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Funding, last 7 days+0.015%+$2 on $10k
+Price spread, last 7 days−0.002%$0 · spread now +0.009%, 7d avg −0.004%
=The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit BTCUSDT | 85,898.4 | 0.0062 | pay 0.0062% / 8h | 4h 45m | $5.14B | $7.98B | 150x |
| Short | Kalshi KXBTCPERP | 85,906 | 0.0157 | get 0.0157% / 8h | 45m 48s | $13.3M | $739.5M | 6.4x |
Bybit BTCUSDT
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Bybit. 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
- $19.92
- Price spread: +0.009% → −0.004%
- $1.32
- Slippage, 4 orders
- −$1.09
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$0.85
- Costs to cover
- 0.221%
- Break-even
- 7.3 days
Slippage from Bybit: live order book, 1 min ago; Kalshi: live order book, 1 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 Bybit live order book, 1 min ago | 0.01 bp | 5.7 bp −$6 | 6.4 bp −$64 | 6.7 bp −$668 | 8.1 bp −$4,053 |
| Sell Kalshi live order book, 1 min ago | 0.23 bp | 5.4 bp −$5 | 7.0 bp −$70 | 7.6 bp −$762 | 11.9 bp −$5,964 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0150% | 1h | 85,939 | +0.047% | $2.1M | $7.7M | 40x | as long as short |
| Perpl BTC | −0.0112% | 43m | 85,889.4 | −0.011% | $472K | $13.5M | 6.7x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,930 | +0.037% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0045% | 8h | 85,912.5 | +0.016% | $424.3M | $550.5M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,892 | −0.007% | $369K | $1.8M | 50x | as long as short |
| SoDEX BTC-USD | −0.0006% | 1h | 85,849 | −0.058% | $65.8M | $186.9M | 40x | as long as short |
| ApeX Omni BTCUSDT | −0.0004% | 1h | 85,852.8 | −0.053% | $137.7M | $288.5M | 100x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,927.7 | +0.034% | $16.9M | $13.6M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0001% | 1h | 85,783 | −0.134% | $321K | $28.3M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,858.5 | −0.046% | $36.9M | — | 200x | as long as short |
Phoenix BTC
Perpl BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
SoDEX BTC-USD
ApeX Omni BTCUSDT
dYdX BTC-USD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USDShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BTCUSDT | +0.0016% | 8h | 85,895.2 | −0.004% | $511.3M | $830.0M | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0019% | 1h | 85,872.3 | −0.030% | $192.7M | $739.0M | 100x | as long as short |
| Popdex BTCUSDT | +0.0040% | 1h | 85,887 | −0.013% | $8.6M | $45.6M | 100x | as long as short |
| BingX BTC-USDC | +0.0047% | 8h | 85,869.3 | −0.034% | — | $16.1M | — | as long as short |
| KuCoin XBTUSDTM | +0.0053% | 8h | 85,900.9 | +0.003% | $942.3M | $635.6M | 125x | as long as short |
| Bybit BTCUSDTlong | +0.0062% | 8h | 85,898.4 | long leg | $5.14B | $7.98B | 150x | |
| Phemex BTCUSDT | +0.0064% | 8h | 85,860.4 | −0.044% | $170.8M | $474.9M | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 85,828.4 | −0.081% | $2.4M | $6.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0074% | 8h | 85,896.2 | −0.003% | $5.16B | $4.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0075% | 8h | 85,887.3 | −0.013% | $9.41B | $20.02B | 150x | as long as short |
| Gate BTC_USDT | +0.0077% | 8h | 85,899.3 | +0.001% | $5.51B | $8.77B | 200x | as long as short |
| HTX BTC-USDT | +0.0084% | 8h | 85,841.1 | −0.067% | $2.27B | $759.3M | 200x | as long as short |
| Bitget BTCUSDT | +0.0087% | 8h | 85,889.7 | −0.010% | $3.00B | $3.84B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,876.6 | −0.025% | $173.4M | $835.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,878.4 | −0.023% | $23.7M | $117.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0097% | 1h | 85,861 | −0.044% | $218K | $3.2M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,861 | −0.044% | $230K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,935 | +0.043% | $5.9M | $7.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,886.7 | −0.014% | $23.7M | $189.7M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,927.2 | +0.034% | $40.1M | $569.3M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,898.3 | 0.000% | $2.63B | $9.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,888 | −0.012% | $4.0M | $14.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,897.4 | −0.001% | $4.8M | $91.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,866.1 | −0.038% | $38.2M | $196.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,863.5 | −0.041% | $156.6M | $472.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,791.9 | −0.124% | $289.4M | $734.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,812 | −0.101% | $215.5M | $132.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,933.8 | +0.041% | $30.2M | $227.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,975.9 | +0.090% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,885 | −0.016% | $11.0M | $12.1M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,830.9 | −0.079% | $2.6M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,861.9 | −0.043% | $143K | $608K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,893.2 | −0.006% | $29.0M | $44.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,868.1 | −0.035% | $3.3M | $6.8M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,951.1 | +0.061% | $715.0M | $86.6M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,878 | −0.024% | $47.3M | $190.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,881.5 | −0.020% | — | $79.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0128% | 1h | 85,895.6 | −0.003% | $112.0M | $4.95B | 50x | as long as short |
| Kalshi KXBTCPERPshort | +0.0157% | 8h | 85,906 | +0.009% | $13.3M | $739.5M | 6.4x | |
| RISEx BTC/USDC | +0.0165% | 1h | 85,927.2 | +0.033% | $9.0M | $35.4M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0173% | 1h | 85,859.9 | −0.045% | $6.6M | $125.0M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0212% / S −0.0259% | 1h | 85,869.9 | −0.033% | $15.8M | — | 200x | as long as short |
| Hyperliquid BTC | +0.0213% | 1h | 85,979 | +0.094% | $3.95B | $4.17B | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0222% | 1h | 85,895.8 | −0.003% | $818.9M | $1.49B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0296% | 1h | 85,955.6 | +0.067% | $703K | $6.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0306% | 1h | 85,898.8 | 0.000% | $79K | $228K | 20x | as long as short |
Aster BTCUSDT
Kraken Futures PF_XBTUSD
Popdex BTCUSDT
BingX BTC-USDC
KuCoin XBTUSDTM
Phemex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
HTX BTC-USDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Bullet BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Hyperliquid BTC
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD