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: Kalshi against Nado+0.067%7-day average −0.039% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on Nado Short on Kalshi

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)−0.162%−$16 · spread now +0.067%, 7d avg −0.039%

Together, before fees−0.268%+ Points / potential airdropNado: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.107% dearer against Nado than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.039%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.905	0.0100	pay 0.0012% / 1h	49m 55s	$349K	$336K	10x
Short	Kalshi KXLINKPERP	12.914	0	get 0.0000% / 8h	3h 49m	$514K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Nado. 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 NadobpFee KalshibpOrdersPrice spread, now +0.067%Rate

Funding earned: −$21
Price spread: +0.067% → −0.039%: $10.66
Slippage, 4 orders: −$26
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$53.34
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from Nado: live order book, 48 min ago; Kalshi: live order book, 3 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 Nado live order book, 48 min ago	0.78 bp	5.7 bp −$6	16.1 bp −$161	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	10.07 bp	15.1 bp −$15	20.1 bp −$201	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
Orderly PERP_LINK_USDC	−0.0107%	8h	12.898	−0.058%	$91K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.904	−0.013%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.914	+0.067%	$514K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.915	+0.074%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.917%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.904	−0.015%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.911	+0.045%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.902	−0.027%	$1.9M	$2.8M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0099%	1h	12.910	+0.035%	$807K	$268K	50x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.910	+0.033%	$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-PERPlong	+0.0100%	1h	12.905	long leg	$349K	$336K	10x
Hyperliquid LINK	+0.0100%	1h	12.919	+0.105%	$80.7M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.913	+0.060%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.913	+0.055%	$275K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.912	+0.050%	$119.2M	$297.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.908	+0.019%	$83.6M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.916	+0.081%	$27.1M	$80.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.923	+0.136%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.912	+0.050%	$133.9M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.911	+0.043%	$34.9M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.915	+0.074%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.911	+0.043%	$53.8M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.913	+0.058%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.910	+0.035%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.909	+0.030%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.901	−0.038%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.904	−0.008%	$582K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.910	+0.035%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.910	+0.035%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.919	+0.107%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.924	+0.144%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.902	−0.027%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.873	−0.250%	$629K	$733K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.906	+0.007%	$615K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.904	−0.012%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.908	+0.019%	$929K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.912	+0.050%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.901	−0.038%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0592%	8h	12.920	+0.112%	$20.0M	$11.5M	50x	as long as short
dYdX LINK-USD	+0.0687%	1h	12.910	+0.036%	$344K	$45K	10x	as long as short