BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0169%/8h= −18.5% APRnext payment −$1.69 per $10,000 · paid last 24h +0.003%

Price spread now: KuCoin against Kalshi−0.033%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Kalshi Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.033%, 7d avg +0.003%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and KuCoin is 0.035% cheaper against Kalshi than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBTCPERP	85,628	0.0206	pay 0.0206% / 8h	2h 36m	$10.1M	$770.7M	6.4x
Short	KuCoin XBTUSDTM	85,599.9	0.0037	get 0.0037% / 8h	6h 36m	$899.4M	$761.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kalshi. 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 KalshibpFee KuCoinbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$35.54
Price spread: −0.033% → +0.003%: −$3.53
Slippage, 4 orders: −$1.01
Fee Kalshi: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$62.09
Costs to cover: 0.230%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; KuCoin: live order book, 8 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 Kalshi live order book, 3 min ago	0.17 bp	5.4 bp −$5	5.9 bp −$59	7.5 bp −$752	13.3 bp −$6,637
Sell KuCoin live order book, 8 min ago	0.01 bp	6.0 bp −$6	6.8 bp −$68	8.8 bp −$880	doesn't fit

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	−0.0144%	1h	85,678	+0.058%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,570	−0.068%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.263%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,597.7	−0.035%	$368K	$2.4M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,569.2	−0.069%	$16.7M	$21.0M	50x	as long as short
Perpl BTC	0.0000%	43m	85,624.7	−0.004%	$515K	$21.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,628.8	+0.001%	$36.6M	—	200x	as long as short
ApeX Omni BTCUSDT	+0.0017%	1h	85,575.3	−0.062%	$139.9M	$320.8M	100x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,524	−0.121%	$339K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0034%	8h	85,611.7	−0.019%	$496.4M	$1.14B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XBTUSDTMshort	+0.0037%	8h	85,599.9	−0.033%	$899.4M	$761.2M	125x
RISEx BTC/USDC	+0.0044%	1h	85,617.8	−0.012%	$7.9M	$42.5M	25x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,625	−0.004%	—	$1.60B	—	as long as short
Reya BTCRUSDPERP	+0.0055%	1h	85,615.5	−0.015%	$6.7M	$146.1M	40x	as long as short
HTX BTC-USDT	+0.0064%	8h	85,607.9	−0.023%	$2.27B	$958.9M	200x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,613	−0.018%	$2.94B	$5.14B	150x	as long as short
Nado BTC-PERP	+0.0071%	1h	85,562.9	−0.076%	$22.7M	$230.2M	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,613.5	−0.017%	$2.5M	$1.8M	20x	as long as short
Gate BTC_USDT	+0.0086%	8h	85,624.9	−0.004%	$5.61B	$10.49B	200x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,618	−0.012%	$5.07B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,630.5	+0.003%	$9.31B	$24.57B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,634.6	+0.008%	$169.5M	$984.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,639.7	+0.014%	$23.2M	$146.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,610	−0.021%	$8.4M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,578	−0.058%	$206K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,564.1	−0.075%	$3.8M	$8.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,684	+0.065%	$3.77B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,600	−0.033%	$40.7M	$569.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,638.7	+0.013%	$5.28B	$9.88B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,626.5	−0.002%	$2.53B	$12.49B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,575	−0.062%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,584.8	−0.050%	$7.3M	$98.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,572.4	−0.065%	$35.1M	$163.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,619.2	−0.010%	$156.3M	$559.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,518.2	−0.128%	$277.3M	$942.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,595.7	−0.038%	$214.7M	$167.4M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,561.7	−0.077%	$30.3M	$208.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,658.3	+0.035%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,611	−0.020%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,621	−0.008%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,623.2	−0.006%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,666.7	+0.045%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,625.8	−0.003%	$30.0M	$57.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,537.7	−0.105%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,620	−0.009%	$59.9M	$337.6M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,631.2	+0.004%	$153.6M	$480.4M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	−0.047%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,598.5	−0.034%	$44.6M	$227.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,594.3	−0.039%	—	$102.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,647	+0.022%	$130.8M	$5.25B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,631.6	+0.004%	$697K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,637.5	+0.011%	$188.4M	$969.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0158%	1h	85,651.8	+0.028%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0192%	1h	85,624.9	−0.004%	$13.7M	—	200x	as long as short
Kalshi KXBTCPERPlong	+0.0206%	8h	85,628	long leg	$10.1M	$770.7M	6.4x
Deribit BTC-PERPETUAL	+0.0221%	1h	85,664.6	+0.043%	$893.9M	$1.55B	50x	as long as short