Bitcoin Perps on Kalshi: Funding, Leverage and Liquidation Price
Live from Kalshi's public data: what a BTC perp costs to hold, how much leverage you get, and where a position gets liquidated. Trades 24/7.
Bitcoin funding since launch
| Funding time (ET) | Rate | Who paid | On $10,000 long |
|---|---|---|---|
| Sep 25, 4 PM | 0.0000% | Nobody | $0.00 |
| Sep 25, 8 AM | 0.0000% | Nobody | $0.00 |
| Sep 25, 12 AM | +0.0127% | Longs → shorts | −$1.27 |
| Sep 24, 4 PM | 0.0000% | Nobody | $0.00 |
| Sep 24, 8 AM | 0.0000% | Nobody | $0.00 |
| Sep 24, 12 AM | +0.0123% | Longs → shorts | −$1.23 |
| Sep 23, 4 PM | +0.0108% | Longs → shorts | −$1.08 |
| Sep 23, 8 AM | +0.0173% | Longs → shorts | −$1.73 |
| Sep 23, 12 AM | +0.0138% | Longs → shorts | −$1.38 |
| Sep 22, 4 PM | 0.0000% | Nobody | $0.00 |
| Sep 22, 8 AM | +0.0156% | Longs → shorts | −$1.56 |
| Sep 22, 12 AM | +0.0221% | Longs → shorts | −$2.21 |
| Sep 21, 4 PM | 0.0000% | Nobody | $0.00 |
| Sep 21, 8 AM | 0.0000% | Nobody | $0.00 |
| Sep 21, 12 AM | +0.0106% | Longs → shorts | −$1.06 |
| Sep 20, 4 PM | 0.0000% | Nobody | $0.00 |
| Sep 20, 8 AM | 0.0000% | Nobody | $0.00 |
| Sep 20, 12 AM | +0.0136% | Longs → shorts | −$1.36 |
| Sep 19, 4 PM | 0.0000% | Nobody | $0.00 |
| Sep 19, 8 AM | +0.0115% | Longs → shorts | −$1.15 |
| Sep 19, 12 AM | 0.0000% | Nobody | $0.00 |
Where a BTC position gets liquidated
Entry at $83,936, $1,000 of margin. The quick rule is 100 ÷ leverage; the estimate includes Kalshi's maintenance margin (opening margin ÷ 1.3). Kalshi's app shows your exact figure once a position is open.
| Leverage | Quick rule | Long liquidates at | Short liquidates at |
|---|---|---|---|
| 2x | 50% | $47,288 (43.7%) | $112,355 (33.9%) |
| 3x | 33% | $63,052 (24.9%) | $99,870 (19.0%) |
| 5x | 20% | $75,664 (9.9%) | $89,881 (7.1%) |
Run your own BTC position
The quick rule (100 ÷ leverage) says 33%. Kalshi's maintenance margin eats part of that cushion, so the real distance is closer to 24.9%. Estimate from Kalshi's published risk parameters; the app shows your exact number once the position is open.
Buy YES on Bitcoin below $67,500 (Bitcoin monthly one-touch, closes Sep 30, 11:59 PM ET) at 2¢.
A one-touch contract pays $1 if the price trades through the strike at any point before it closes, so it pays whether or not you were still holding the perp. The hedge closes on Sep 30, 11:59 PM ET; the perp does not. Re-hedge on the next month's ladder if you hold longer.
See this contract on Kalshi →Live from Kalshi's public perps API, Sep 25, 2026, 9:30 PM ET. Funding uses the BTC 30-day average per 8-hour window (+0.0115%); a single print can run to Kalshi's ±2% cap. Liquidation ignores fees and funding already paid, which pull it closer. See every print on the Bitcoin perps page.
What to know about Bitcoin perps
Bitcoin is Kalshi’s deepest perp and the only one where longs have consistently paid funding. It prices off the CF Benchmarks Bitcoin Real-Time Index, the same family of index Kalshi settles its hourly and 15-minute Bitcoin contracts on, which is why the monthly one-touch ladder is such a clean hedge for a leveraged long.
Reference price: CF Benchmarks Bitcoin Real-Time Index (BRTI), 1-second updates.
Frequently Asked Questions
What is the funding rate on Kalshi Bitcoin perps?
Bitcoin funds three times a day, at 12 a.m., 8 a.m. and 4 p.m. ET. Since launch the average has worked out to 7.9% a year paid by longs, and 54% of the 343 prints paid nothing because Kalshi rounds rates under 0.01% to zero. The most recent print was 0.0000%.
How much leverage can I use on Kalshi Bitcoin perps?
At a $1,000 position Kalshi allowed about 6.8x long and 6.4x short when this page last refreshed. Bigger positions get less. A 3x long sat about 24.9% above its liquidation price, because Kalshi liquidates at maintenance margin, not at zero.
What are the fees on Kalshi Bitcoin perps?
Kalshi charges perps fees on the full notional value of the position (margin × leverage), once to open and once to close. At the entry tier that is 0.120% for a taker fill and 0.020% for a resting maker fill; rates step down as your 30-day volume grows, and Kalshi counts your prediction-market volume toward that tier, not just perps.
Can I hedge a Bitcoin perp with a Kalshi event contract?
Yes. Kalshi lists a Bitcoin monthly one-touch ladder. Its contracts pay $1 if the price trades through the strike at any point before the deadline, so the strike nearest your liquidation price works as liquidation insurance. The perps calculator on this page finds the right strike and prices it.
Perps carry leverage and can lose your entire margin quickly. Numbers are read from Kalshi's public API and our own math; PredictionMarketsPicks is independent of Kalshi. Trade responsibly.
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