BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0106%/8h= +11.7% APRnext payment +$1.06 per $10,000 · paid last 24h +0.017%

Price spread now: Kalshi against KuCoin+0.049%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on KuCoin Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.046%−$5 · spread now +0.049%, 7d avg −0.002%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kalshi is 0.051% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	85,760.2	0.0052	pay 0.0052% / 8h	5h 27m	$933.7M	$638.5M	125x
Short	Kalshi KXBTCPERP	85,802	0.0158	get 0.0158% / 8h	1h 27m	$12.0M	$736.8M	6.4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against KuCoin. 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 KuCoinbpFee KalshibpOrdersPrice spread, now +0.049%Rate

Funding earned: $22.35
Price spread: +0.049% → −0.002%: $5.1
Slippage, 4 orders: −$1.2
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $4.26
Costs to cover: 0.232%
Break-even: 5.7 days

Slippage from KuCoin: live order book, 5 min ago; Kalshi: live order book, 5 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 KuCoin live order book, 5 min ago	0.01 bp	6.7 bp −$7	7.4 bp −$74	9.4 bp −$943	doesn't fit
Sell Kalshi live order book, 5 min ago	0.12 bp	5.2 bp −$5	6.7 bp −$67	7.4 bp −$743	13.0 bp −$6,503

BTC on 55 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	−0.0133%	1h	85,793	+0.038%	$2.0M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,110	+0.408%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,777.9	+0.021%	$366K	$2.0M	50x	as long as short
SoDEX BTC-USD	−0.0047%	1h	85,761	+0.001%	$65.7M	$187.8M	40x	as long as short
BloFin BTC-USDT	−0.0036%	8h	85,759.8	0.000%	$422.3M	$552.0M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,816.1	+0.065%	$16.8M	$13.9M	50x	as long as short
Perpl BTC	0.0000%	43m	85,783.5	+0.027%	$470K	$13.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,797	+0.043%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	85,788	+0.032%	$300K	$27.7M	52x	as long as short
Aster BTCUSDT	+0.0017%	8h	85,760.1	0.000%	$510.9M	$867.4M	200x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex BTCUSDT	+0.0024%	1h	85,777	+0.020%	$8.5M	$45.5M	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0030%	1h	85,777.1	+0.020%	$191.9M	$756.6M	100x	as long as short
BingX BTC-USDT	+0.0034%	8h	85,782.7	+0.026%	—	$1.32B	—	as long as short
Bybit BTCUSDT	+0.0042%	8h	85,776.5	+0.019%	$5.12B	$8.08B	150x	as long as short
KuCoin XBTUSDTMlong	+0.0052%	8h	85,760.2	long leg	$933.7M	$638.5M	125x
Gate BTC_USDT	+0.0062%	8h	85,771.6	+0.013%	$5.50B	$8.97B	200x	as long as short
HTX BTC-USDT	+0.0073%	8h	85,750.7	−0.011%	$2.27B	$796.4M	200x	as long as short
Phemex BTCUSDT	+0.0077%	8h	85,766.8	+0.008%	$168.9M	$476.4M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,751.2	−0.011%	$2.4M	$6.8M	20x	as long as short
Bullet BTC-USD	+0.0083%	1h	85,767.9	+0.009%	$210K	$3.2M	20x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,762.4	+0.003%	$5.15B	$4.87B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,760.5	0.000%	$9.40B	$20.40B	150x	as long as short
ApeX Omni BTCUSDT	+0.0087%	1h	85,826.9	+0.078%	$137.9M	$288.9M	100x	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,782.3	+0.026%	$2.98B	$3.93B	150x	as long as short
Bluefin BTC-PERP	+0.0091%	1h	85,809.9	+0.058%	$194K	$556K	40x	as long as short
Lighter BTC	+0.0096%	1h	85,784.9	+0.029%	$172.2M	$864.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,785.5	+0.030%	$23.6M	$120.7M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0097%	8h	85,848.6	+0.103%	$215.7M	$134.0M	50x	as long as short
Nado BTC-PERP	+0.0098%	1h	85,771.7	+0.013%	$23.5M	$192.8M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,747	−0.015%	$216K	$8.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,783.8	+0.028%	$6.0M	$7.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,802	+0.049%	$40.0M	$569.9M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,787	+0.031%	$2.62B	$9.38B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,755	−0.006%	$3.9M	$14.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,788	+0.032%	$4.8M	$91.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,759.1	−0.001%	$37.8M	$195.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,827.8	+0.079%	$157.4M	$475.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,801.8	+0.049%	$289.1M	$748.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,823.3	+0.074%	$30.2M	$225.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,824.1	+0.075%	—	$10.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,771	+0.013%	$11.1M	$11.9M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,753.9	−0.007%	$2.6M	$8.9M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,778	+0.021%	$3.3M	$6.7M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,956.9	+0.229%	$714.6M	$116.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,732.3	−0.032%	$47.2M	$193.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,794.1	+0.040%	—	$80.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	85,812.8	+0.061%	$111.9M	$4.93B	50x	as long as short
Hyperliquid BTC	+0.0150%	1h	85,864	+0.121%	$3.94B	$4.29B	40x	as long as short
Kalshi KXBTCPERPshort	+0.0158%	8h	85,802	+0.049%	$12.0M	$736.8M	6.4x
Reya BTCRUSDPERP	+0.0167%	1h	85,753.6	−0.008%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	85,791.5	+0.037%	$8.9M	$36.3M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0201%	1h	85,817.6	+0.067%	$819.9M	$1.51B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0212% / S −0.0254%	1h	85,780.5	+0.024%	$15.6M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0328%	1h	85,874.6	+0.133%	$712K	$6.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0416%	1h	85,871.4	+0.130%	$79K	$241K	20x	as long as short