Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Nado against Kalshi−0.112%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Kalshi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.106%+$11 on $10k

Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.112%, 7d avg +0.039%

Together, before fees+0.313%+ Points / potential airdropNado: Active · farm board+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.152% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.112% now, against its 7-day average of +0.039%). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	13.071	0	get 0.0000% / 8h	3h 03m	$501K	$2.2M	3.7x
Short	Nado LINK-PERP	13.056	0.0100	get 0.0012% / 1h	3m 30s	$351K	$315K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.112%Rate

Funding earned: $21
Price spread: −0.112% → +0.039%: −$15.16
Slippage, 4 orders: −$25.84
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$37
Costs to cover: 0.428%
Break-even: 19.3 days

Slippage from Kalshi: live order book, 5 min ago; Nado: live order book, 29 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	10.07 bp	15.2 bp −$15	17.5 bp −$175	doesn't fit	doesn't fit
Sell Nado live order book, 29 min ago	1.17 bp	7.9 bp −$8	16.7 bp −$167	doesn't fit	doesn't fit

LINK on 39 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
Orderly PERP_LINK_USDC	−0.0130%	8h	13.065	−0.047%	$92K	$915K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.068	−0.028%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	13.071	long leg	$501K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.068	−0.027%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.135%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0048%	1h	13.073	+0.012%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.062	−0.069%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.060	−0.082%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.058	−0.101%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.056	−0.112%	$351K	$315K	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.070	−0.009%	$81.6M	$27.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.067	−0.032%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.062	−0.073%	$278K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.060	−0.085%	$120.8M	$287.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.056	−0.116%	$84.6M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.059	−0.093%	$27.5M	$77.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.076	+0.037%	$183K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.062	−0.070%	$135.2M	$18.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.056	−0.116%	$36.4M	$60.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.067	−0.032%	$23.2M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.058	−0.101%	$54.6M	$28.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.060	−0.086%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.072	+0.006%	$340K	$371K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.065	−0.045%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.058	−0.102%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.055	−0.127%	$588K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.061	−0.078%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.065	−0.047%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.078	+0.049%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.067	−0.032%	$15K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.049	−0.169%	$626K	$679K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.055	−0.123%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.071	−0.003%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.058	−0.101%	$941K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.062	−0.070%	$5.3M	$16.1M	75x	as long as short
Phemex LINKUSDT	+0.0285%	8h	13.081	+0.075%	$20.2M	$11.0M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0354%	1h	13.079	+0.059%	$875K	$325K	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.057	−0.109%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0838%	1h	13.069	−0.015%	$351K	$48K	10x	as long as short