Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Pacifica against Kalshi−0.094%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Kalshi Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 4 days (all we have)−0.183%−$18 · spread now −0.094%, 7d avg +0.042%

Together, before fees−0.060%+ Points / potential airdropPacifica: Active · farm board−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.135% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of +0.042%). If the spread goes back, that is −$14 on $10k: about 4.5 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	12.930	0	get 0.0000% / 8h	7h 11m	$491K	$2.3M	3.7x
Short	Pacifica LINK	12.918	0.0100	get 0.0013% / 1h	11m 30s	$277K	$182K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.094%Rate

Funding earned: $21
Price spread: −0.094% → +0.042%: −$13.53
Slippage, 4 orders: −$33.42
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.95
Costs to cover: 0.514%
Break-even: 21.6 days

Slippage from Kalshi: live order book, 2 min ago; Pacifica: live order book, 42 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, 2 min ago	7.81 bp	13.1 bp −$13	19.3 bp −$193	doesn't fit	doesn't fit
Sell Pacifica live order book, 42 min ago	4.60 bp	10.7 bp −$11	doesn't fit	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 −0.0089% / S +0.0166%	1h	12.914	−0.125%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	12.930	long leg	$491K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.915	−0.113%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.100%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.915	−0.117%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.940	+0.079%	$3K	$82K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0075%	1h	12.921	−0.074%	$784K	$210K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.917	−0.100%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.910	−0.158%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.917	−0.101%	$390K	$307K	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	12.914	−0.125%	$1.2M	$2.4M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	12.918	−0.094%	$277K	$182K	10x
Binance LINKUSDT	+0.0100%	8h	12.909	−0.160%	$119.8M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.905	−0.194%	$83.2M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.907	−0.179%	$27.3M	$80.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.929	−0.009%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.917	−0.101%	$128.0M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.914	−0.125%	$33.2M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.923	−0.055%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.905	−0.194%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.915	−0.117%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.920	−0.078%	$339K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.933	+0.024%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	+0.028%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	+0.015%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.936	+0.046%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.913	−0.132%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.914	−0.128%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.928	−0.013%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.916	−0.109%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.912	−0.142%	$633K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.908	−0.173%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.918	−0.091%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.923	−0.055%	$921K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	+0.053%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.919	−0.085%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0305%	1h	12.930	−0.001%	$80.7M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.907	−0.179%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0563%	8h	12.933	+0.022%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0853%	1h	12.917	−0.100%	$343K	$32K	10x	as long as short