Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0595%/8h= +65.1% APRpaid last 24h +0.060%

Price spread now: dYdX against Kalshi+0.024%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1331.327% of the position

Long on Kalshi Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.471%+$47 on $10k

Price spread, last 4 days (all we have)−0.332%−$33 · spread now +0.024%, 7d avg +0.040%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	12.896	0	get 0.0000% / 8h	44m 44s	$486K	$2.2M	3.7x
Short	dYdX LINK-USD	12.899	0.0595	get 0.0074% / 1h	44m 44s	$342K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $124.91
Price spread: +0.024% → +0.040%: −$1.59
Slippage, 4 orders: −$112.7
Fee Kalshi: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$9.38
Costs to cover: 1.327%
Break-even: 7.5 days

Slippage from Kalshi: live order book, 4 min ago; dYdX: live order book, 14 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, 4 min ago	9.82 bp	14.9 bp −$15	20.5 bp −$205	doesn't fit	doesn't fit
Sell dYdX live order book, 14 min ago	46.47 bp	51.5 bp −$51	134.3 bp −$1,343	254.7 bp −$25.5K	714.7 bp −$357.4K

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	12.888	−0.065%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	12.896	long leg	$486K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.889	−0.057%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.847%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0060%	8h	12.888	−0.063%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.904	+0.058%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.885	−0.086%	$938K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.925	+0.224%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.898	+0.016%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.888	−0.063%	$390K	$311K	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	12.894	−0.018%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.902	+0.043%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.903	+0.056%	$119.3M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.904	+0.061%	$83.3M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.906	+0.077%	$27.2M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.915	+0.147%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.886	−0.078%	$127.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.908	+0.092%	$32.1M	$56.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.903	+0.054%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.889	−0.055%	$53.6M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.888	−0.063%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.897	+0.007%	$337K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.878	−0.139%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.875	−0.162%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.885	−0.086%	$580K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.880	−0.125%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.892	−0.032%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.886	−0.077%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.902	+0.044%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.885	−0.086%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.864	−0.247%	$630K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.887	−0.069%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.889	−0.057%	$540K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0107%	1h	12.892	−0.029%	$770K	$190K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.885	−0.086%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0353%	1h	12.904	+0.061%	$80.8M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.886	−0.076%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0396%	1h	12.887	−0.068%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USDshort	+0.0595%	1h	12.899	+0.024%	$342K	$30K	10x
Phemex LINKUSDT	+0.0608%	8h	12.904	+0.061%	$19.9M	$11.4M	50x	as long as short