Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.027%

Price spread now: Kalshi against Extended+0.068%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 7 days+0.090%+$9 · spread now +0.068%, 7d avg +0.050%

Together, before fees−0.091%+ Points / potential airdropExtended: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	12.903	0.0104	pay 0.0013% / 1h	41m 29s	$631K	$2.0M	25x
Short	Kalshi KXLINKPERP	12.912	0	get 0.0000% / 8h	4h 41m	$507K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.068%Rate

Funding earned: −$21.84
Price spread: +0.068% → +0.050%: $1.75
Slippage, 4 orders: −$24.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$59.66
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Kalshi: live order book, 2 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 Extended live order book, 2 min ago	1.55 bp	5.8 bp −$6	7.3 bp −$73	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	8.99 bp	14.0 bp −$14	17.8 bp −$178	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 −0.0087% / S +0.0165%	1h	12.912	+0.071%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0064%	8h	12.898	−0.039%	$91K	$1.1M	20x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.912	+0.068%	$507K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.912	+0.069%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.899%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0036%	1h	12.919	+0.124%	$808K	$268K	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.920	+0.133%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.914	+0.084%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.908	+0.035%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.910	+0.056%	$353K	$340K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.920	+0.131%	$80.9M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.913	+0.074%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.911	+0.065%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.908	+0.036%	$119.2M	$298.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.904	+0.007%	$83.4M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.905	+0.015%	$27.0M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.923	+0.154%	$180K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.907	+0.030%	$133.4M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.909	+0.046%	$34.5M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.912	+0.069%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.913	+0.077%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.906	+0.023%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.921	+0.139%	$336K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.924	+0.162%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.910	+0.056%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.917	+0.108%	$587K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.921	+0.139%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.912	+0.069%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.912	+0.072%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.927	+0.182%	$34K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.910	+0.054%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.891	−0.091%	$630K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.917	+0.105%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.903	long leg	$631K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.914	+0.081%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.922	+0.147%	$931K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.904	+0.007%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0400%	1h	12.909	+0.049%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0526%	1h	12.914	+0.086%	$344K	$45K	10x	as long as short
Phemex LINKUSDT	+0.0553%	8h	12.926	+0.178%	$20.0M	$11.4M	50x	as long as short