Funding you earn now, next payment 04:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h +0.007%
Price spread now: SoDEX against Kalshi−0.037%7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Funding, last 3 days (all we have)+0.035%+$3 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.037%, 7d avg −0.003%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SoDEX is 0.035% cheaper against Kalshi than usual: you would sell low and buy high (−$3 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 | 85,422 | 0.0217 | pay 0.0217% / 8h | 35m 10s | $10.3M | $758.7M | 6.4x |
| Short | SoDEX BTC-USD | 85,390 | 0.0100 | get 0.0013% / 1h | 35m 10s | $59.8M | $336.2M | 40x |
Kalshi KXBTCPERP
SoDEX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Kalshi. 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
- −$24.58
- Price spread: −0.037% → −0.003%
- −$3.46
- Slippage, 4 orders
- −$1.1
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$47.14
- Costs to cover
- 0.191%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 4 min ago; SoDEX: live order book, 4 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, 4 min ago | 0.29 bp | 5.5 bp −$6 | 7.1 bp −$71 | 8.2 bp −$816 | 14.5 bp −$7,229 |
| Sell SoDEX live order book, 4 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 4.9 bp −$488 | 40.8 bp −$20.4K |
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 | −0.0179% | 1h | 85,363 | −0.069% | $2.2M | $10.3M | 40x | as long as short |
| Bluefin BTC-PERP | −0.0122% | 1h | 85,426.8 | +0.006% | $207K | $739K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,366 | −0.066% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,396.2 | −0.030% | $364K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0028% | 8h | 85,390.2 | −0.037% | $416.5M | $666.1M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0010% | 8h | 85,364.5 | −0.067% | $919.3M | $751.2M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,399.1 | −0.027% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0010% | 8h | 85,376.9 | −0.053% | $514.5M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0017% | 1h | 85,373 | −0.057% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,379 | −0.050% | $5.0M | $97.5M | 40x | as long as short |
Phoenix BTC
Bluefin BTC-PERP
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0051% | 1h | 85,392.6 | −0.034% | $25.6M | $221.5M | 50x | as long as short |
| BingX BTC-USDC | +0.0061% | 8h | 85,386.3 | −0.042% | — | $17.1M | — | as long as short |
| Bitget BTCUSDT | +0.0076% | 8h | 85,399 | −0.027% | $2.95B | $5.06B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0080% | 1h | 85,376 | −0.054% | $6.6M | $146.7M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,382.9 | −0.046% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,391.2 | −0.036% | $5.06B | $5.61B | 500x | as long as short |
| Binance BTCUSDT | +0.0092% | 8h | 85,406.4 | −0.018% | $9.35B | $24.10B | 150x | as long as short |
| Phemex BTCUSDT | +0.0093% | 8h | 85,385.8 | −0.042% | $149.1M | $485.4M | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,397.1 | −0.029% | $172.9M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,404.5 | −0.020% | $23.8M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,397 | −0.029% | $8.4M | $52.8M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,438.2 | +0.019% | $4.4M | $8.7M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,370 | −0.061% | $213K | $8.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,469 | +0.055% | $3.74B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,419.1 | −0.003% | $40.0M | $578.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,389.4 | −0.038% | $5.22B | $9.76B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,396.5 | −0.030% | $2.57B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,365 | −0.067% | $3.9M | $18.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,409.3 | −0.015% | $5.51B | $10.66B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,386.4 | −0.042% | $35.6M | $176.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,260.9 | −0.189% | $153.4M | $563.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,394.8 | −0.032% | $279.0M | $918.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,377.6 | −0.052% | $214.3M | $169.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,377.8 | −0.052% | $139.7M | $314.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,424 | +0.002% | $30.2M | $207.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,438.8 | +0.020% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,390 | −0.037% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,391.1 | −0.036% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,395.4 | −0.031% | $2.4M | $8.9M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,385.5 | −0.043% | $29.9M | $51.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,373.9 | −0.056% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USDshort | +0.0100% | 1h | 85,390 | −0.037% | $59.8M | $336.2M | 40x | |
| HTX BTC-USDT | +0.0100% | 8h | 85,387.6 | −0.040% | $2.26B | $941.7M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,513.6 | +0.107% | $649.6M | $594.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,365.6 | −0.066% | $44.1M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,410.6 | −0.013% | — | $107.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,428 | +0.007% | $116.8M | $5.17B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | +0.137% | $340K | $26.9M | 52x | as long as short |
| Deribit BTC-PERPETUAL | +0.0151% | 1h | 85,434.6 | +0.015% | $894.5M | $1.54B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,406.7 | −0.018% | $187.7M | $955.6M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,421.5 | −0.001% | $8.3M | $42.4M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,315.9 | −0.124% | $696K | $7.9M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,397.1 | −0.029% | $13.4M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,440.8 | +0.022% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERPlong | +0.0217% | 8h | 85,422 | long leg | $10.3M | $758.7M | 6.4x | |
| Perpl BTC | +0.0447% | 43m | 85,392.4 | −0.035% | $504K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Phemex BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Deribit BTC-PERPETUAL
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Perpl BTC