LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.018%

Price spread now: Kalshi against Bybit−0.226%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 3 days (all we have)+0.418%+$42 · spread now −0.226%, 7d avg −0.026%

Together, before fees+0.316%+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.200% cheaper against Bybit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	13.169	0.0100	pay 0.0100% / 8h	1m 58s	$84.9M	$71.5M	75x
Short	Kalshi KXLINKPERP	13.139	0	get 0.0000% / 8h	4h 01m	$478K	$2.4M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now −0.226%Rate

Funding earned: −$21
Price spread: −0.226% → −0.026%: −$20
Slippage, 4 orders: −$22.18
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$84.18
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from Bybit: live order book, 7 min ago; Kalshi: live order book, 1 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 Bybit live order book, 7 min ago	0.38 bp	6.8 bp −$7	10.9 bp −$109	33.5 bp −$3,354	doesn't fit
Sell Kalshi live order book, 1 min ago	5.90 bp	16.6 bp −$17	21.1 bp −$211	doesn't fit	doesn't fit

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.133	−0.271%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	13.139	−0.226%	$478K	$2.4M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.139	−0.232%	$727K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.134	−0.269%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.093	−0.576%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.839%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.127	−0.319%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.136	−0.247%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.125	−0.332%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.127	−0.319%	$400K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.141	−0.212%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.134	−0.268%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.170	+0.008%	$122.4M	$305.7M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	13.169	long leg	$84.9M	$71.5M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.171	+0.015%	$27.7M	$86.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.140	−0.220%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.163	−0.046%	$130.5M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	+0.030%	$36.2M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.139	−0.228%	$22.8M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.170	+0.008%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.172	+0.023%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.632%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.097	−0.545%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.096	−0.554%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.099	−0.532%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.134	−0.266%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.130	−0.295%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.147	−0.170%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.134	−0.266%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.119	−0.381%	$645K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.130	−0.298%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.137	−0.240%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.135	−0.258%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.181	+0.091%	$364K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.134	−0.266%	$5.2M	$16.3M	75x	as long as short
Hyperliquid LINK	+0.0286%	1h	13.188	+0.144%	$78.4M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.129	−0.306%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.144	−0.187%	$6.9M	$8.3M	50x	as long as short
Phemex LINKUSDT	+0.0479%	8h	13.151	−0.137%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0500%	1h	13.136	−0.251%	$348K	$48K	10x	as long as short