Funding you earn now, next payment 05:00 UTC+0.0249%/8h= +27.2% APRpaid last 24h +0.046%
Price spread now: Kalshi against Hotstuff+0.056%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kalshi is 0.056% dearer against Hotstuff than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 85,553 | −0.0080 | get 0.0010% / 1h | 19m 28s | $8K | $3K | 50x |
| Short | Kalshi KXBTCPERP | 85,601 | 0.0169 | get 0.0169% / 8h | 7h 19m | $11.5M | $754.0M | 6.4x |
Hotstuff BTC-PERP
Kalshi KXBTCPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Hotstuff. 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
- $52.19
- Price spread: +0.056% → 0.000%
- $5.61
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $42.8
- Costs to cover
- 0.150%
- Break-even
- 1.3 days
Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 5 min ago. Net counts fees only.
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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 5 min ago | 0.12 bp | 5.6 bp −$6 | 7.2 bp −$72 | 7.7 bp −$766 | 11.7 bp −$5,871 |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0140% | 1h | 85,468 | −0.099% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 85,553 | long leg | $8K | $3K | 50x | |
| KuCoin XBTUSDTM | −0.0043% | 8h | 85,541.4 | −0.014% | $920.4M | $758.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0026% | 8h | 85,543.9 | −0.011% | $420.0M | $676.3M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,544.7 | −0.010% | $365K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,522.9 | −0.035% | $515.0M | $1.10B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,560.5 | +0.009% | $507K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERP | +0.0001% | 1h | 85,548.6 | −0.005% | $24.5M | $222.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,576.6 | +0.028% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0033% | 1h | 85,583.7 | +0.036% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,552 | −0.001% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0053% | 1h | 85,545 | −0.009% | $59.9M | $336.0M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0063% | 1h | 85,592.8 | +0.046% | $872.0M | $1.60B | 50x | as long as short |
| BingX BTC-USDT | +0.0064% | 8h | 85,522.9 | −0.035% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 85,542.2 | −0.013% | $148.6M | $496.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,529.2 | −0.028% | $2.95B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0094% | 8h | 85,520.2 | −0.038% | $5.07B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0094% | 8h | 85,526.9 | −0.031% | $9.45B | $24.43B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,550.6 | −0.003% | $172.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,551.1 | −0.002% | $23.9M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,529 | −0.028% | $8.4M | $55.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,546.2 | −0.008% | $2.8M | $2.2M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,510 | −0.050% | $230K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,565.3 | +0.014% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,626 | +0.085% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,562.6 | +0.011% | $40.4M | $591.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,524.7 | −0.033% | $5.18B | $9.87B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,538.5 | −0.017% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,523 | −0.035% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,528.1 | −0.029% | $4.7M | $99.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,535.9 | −0.020% | $5.54B | $10.84B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,531.6 | −0.025% | $36.1M | $178.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535 | −0.021% | $154.3M | $565.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,494.4 | −0.069% | $279.2M | $930.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,547.9 | −0.006% | $215.0M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,554.5 | +0.002% | $140.0M | $315.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,525.5 | −0.032% | $30.2M | $207.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,589 | +0.042% | — | $11.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,532 | −0.025% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,561.6 | +0.010% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,557.5 | +0.005% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,611 | +0.068% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,548.1 | −0.006% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,545.7 | −0.009% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,543 | −0.012% | $2.26B | $949.7M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,447 | −0.124% | $679.5M | $701.9M | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0102% | 1h | 85,522.7 | −0.035% | $6.6M | $147.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,498.4 | −0.064% | $45.7M | $235.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,556.6 | +0.004% | — | $106.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,579.7 | +0.031% | $117.2M | $5.26B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,565.4 | +0.014% | $188.0M | $957.0M | 100x | as long as short |
| Kalshi KXBTCPERPshort | +0.0169% | 8h | 85,601 | +0.056% | $11.5M | $754.0M | 6.4x | |
| RISEx BTC/USDC | +0.0174% | 1h | 85,567.1 | +0.016% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0149% | 1h | 85,578.6 | +0.030% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,593.2 | +0.047% | $701K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0247% | 1h | 85,522.6 | −0.036% | $78K | $222K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Deribit BTC-PERPETUAL
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Reya BTCRUSDPERP
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD