Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.022%

Price spread now: Coinbase International against Kalshi−0.108%7-day average +0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.108%, 7d avg +0.080%

Together, before fees+0.308%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.188% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.108% now, against its 7-day average of +0.080%). If the spread goes back, that is −$19 on $10k: about 9.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	12.980	0	get 0.0000% / 8h	1h 38m	$480K	$2.2M	3.7x
Short	Coinbase International LINK-PERP-INTX	12.966	0.0064	get 0.0008% / 1h	38m 44s	$937K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kalshi. 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 KalshibpFee Coinbase InternationalbpOrdersPrice spread, now −0.108%Rate

Funding earned: $13.44
Price spread: −0.108% → +0.080%: −$18.75
Slippage, 4 orders: −$30.1
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$55.41
Costs to cover: 0.501%
Break-even: 35.9 days

Slippage from Kalshi: live order book, 5 min ago; Coinbase International: 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 Kalshi live order book, 5 min ago	7.61 bp	12.6 bp −$13	19.5 bp −$195	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	2.31 bp	13.4 bp −$13	17.0 bp −$170	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 −0.0090% / S +0.0167%	1h	12.959	−0.158%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	12.980	long leg	$480K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.960	−0.157%	$159K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0028%	1h	12.964	−0.121%	$770K	$193K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.468%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0064%	1h	12.966	−0.108%	$937K	$2.7M	50x
Orderly PERP_LINK_USDC	+0.0067%	8h	12.956	−0.185%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.970	−0.080%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	+0.022%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.967	−0.103%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.972	−0.062%	$394K	$315K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.965	−0.119%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.971	−0.071%	$274K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.970	−0.077%	$119.6M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.967	−0.100%	$83.8M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.966	−0.108%	$27.4M	$81.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.990	+0.077%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.963	−0.131%	$128.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.968	−0.092%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	−0.116%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.970	−0.077%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.964	−0.123%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.968	−0.092%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.070%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.977	−0.021%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.236%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.239%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.978	−0.015%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.960	−0.154%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.984	+0.032%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.960	−0.154%	$13K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.959	−0.159%	$639K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.958	−0.168%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.961	−0.143%	$544K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	−0.108%	$5.2M	$15.7M	75x	as long as short
dYdX LINK-USD	+0.0375%	1h	12.967	−0.100%	$343K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.971	−0.071%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0556%	1h	12.961	−0.148%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0618%	8h	12.976	−0.031%	$20.0M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0659%	1h	12.985	+0.039%	$81.2M	$26.9M	10x	as long as short