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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h −0.018%
Price spread now: Kalshi against Extended+0.028%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$160.156% of the position
Long on ExtendedShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.065%−$6 on $10k
Price spread, last 7 days+0.008%+$1 · spread now +0.028%, 7d avg +0.033%
Together, before fees−0.057%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.033%, 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 −0.065%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD86,294.80.0104pay 0.0013% / 1h51m 00s$45.9M$224.2M50x
ShortKalshi KXBTCPERP86,3190.0212get 0.0212% / 8h3h 51m$9.6M$759.8M6.4x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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
$22.67
Price spread: +0.028% → +0.033%
−$0.51
Slippage, 4 orders
−$0.56
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$6.6
Costs to cover
0.156%
Break-even
5.0 days
Slippage from Extended: live order book, 3 min ago; Kalshi: live order book, 3 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 Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$263.0 bp −$2999.6 bp −$4,787
Sell Kalshi live order book, 3 min ago0.06 bp5.3 bp −$56.7 bp −$677.7 bp −$76912.4 bp −$6,206

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
Phoenix BTC−0.0129%1h86,441+0.169%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,297+0.003%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,304.6+0.011%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,324.8+0.035%$461K$22.1M6.7xas long as short
dYdX BTC-USD+0.0003%1h86,307.1+0.014%$16.9M$20.6M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,351.4+0.066%$36.9M—200xas long as short
Bluefin BTC-PERP+0.0007%1h86,350.6+0.065%$140K$663K40xas long as short
Aster BTCUSDT+0.0014%8h86,319.6+0.029%$500.6M$1.15B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.372%$333K$26.9M52xas long as short
KuCoin XBTUSDTM+0.0029%8h86,295.4+0.001%$830.1M$722.9M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0041%1h86,308.4+0.016%$6.7M$145.7M40xas long as short
BingX BTC-USDC+0.0046%8h86,298.3+0.004%—$15.3M—as long as short
SoDEX BTC-USD+0.0050%1h86,314+0.022%$60.4M$338.1M40xas long as short
RISEx BTC/USDC+0.0052%1h86,299.4+0.005%$8.3M$42.9M25xas long as short
Bitget BTCUSDT+0.0059%8h86,312.7+0.021%$2.96B$5.10B150xas long as short
Deribit BTC-PERPETUAL+0.0062%1h86,356.4+0.071%$903.3M$1.51B50xas long as short
ApeX Omni BTCUSDT+0.0069%1h86,448.9+0.179%$141.6M$323.3M100xas long as short
Aevo BTC-PERP+0.0072%1h86,488.1+0.224%$2.5M$1.4M20xas long as short
Binance BTCUSDT+0.0076%8h86,311.5+0.019%$9.41B$24.53B150xas long as short
MEXC BTC_USDT+0.0076%8h86,301+0.007%$5.13B$5.66B500xas long as short
Gate BTC_USDT+0.0077%8h86,313+0.021%$5.83B$10.47B200xas long as short
Lighter BTC+0.0096%1h86,329.8+0.041%$170.0M$981.4M50xas long as short
Lighter RH BTC+0.0096%1h86,320.7+0.030%$23.7M$148.7M50xas long as short
GRVT BTC_USDT_Perp+0.0096%8h86,431.6+0.159%$216.9M$167.8M50xas long as short
Popdex BTCUSDT+0.0096%1h86,293−0.002%$8.4M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,269−0.030%$204K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,331.6+0.043%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,278.9−0.019%$22.1M$232.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,371+0.088%$3.79B$5.04B40xas long as short
Pacifica BTC+0.0100%1h86,326.6+0.037%$40.7M$540.8M50xas long as short
Bybit BTCUSDT+0.0100%8h86,336.3+0.048%$5.26B$9.75B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,331+0.042%$2.56B$12.64B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,294−0.001%$3.9M$18.1M25xas long as short
Arcus BTC-USD+0.0100%1h86,320.9+0.030%$7.3M$96.0M40xas long as short
Bulk BTC-USD+0.0100%1h86,523.6+0.265%$572.9M$12.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,298.1+0.004%$37.5M$155.4M75xas long as short
Variational Omni BTC+0.0100%8h86,309.8+0.017%$157.9M$567.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,419.2+0.144%$279.1M$949.0M100xas long as short
StandX BTC-USD+0.0100%1h86,338+0.050%$30.6M$208.4M40xas long as short
Vest BTC-PERP+0.0100%1h86,350.2+0.064%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,299+0.005%$11.1M$14.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,322+0.031%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,308.9+0.016%$2.5M$9.1M100xas long as short
Derive BTC-PERP+0.0100%1h86,345.8+0.059%$30.4M$62.7M15xas long as short
SunX BTC-USDT+0.0100%8h86,315.8+0.024%$3.4M$5.3M100xas long as short
HTX BTC-USDT+0.0100%8h86,312.9+0.021%$2.29B$967.7M200xas long as short
Phemex BTCUSDT+0.0100%8h86,318+0.027%$152.9M$478.7M150xas long as short
Extended BTC-USDlong+0.0104%1h86,294.8long leg$45.9M$224.2M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,310.5+0.018%—$99.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,353.3+0.068%$132.8M$5.57B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,345.5+0.059%$192.4M$950.9M100xas long as short
Aftermath Perps BTCUSD+0.0165%1h86,442+0.170%$76K$219K20xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,388.4+0.108%$714K$8.0M30xas long as short
BloFin BTC-USDT+0.0196%8h86,301+0.007%$414.7M$654.0M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0201% / S −0.0214%1h86,341.2+0.054%$14.5M—200xas long as short
Kalshi KXBTCPERPshort+0.0212%8h86,319+0.028%$9.6M$759.8M6.4x