LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0054%/8h= −5.9% APRnext payment −$0.54 per $10,000 · paid last 24h −0.024%

Price spread now: Kalshi against Orderly−0.061%52s7-day average −0.084% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.198%−$20 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.061%, 7d avg −0.084%

Together, before fees−0.204%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.023% dearer against Orderly than usual: you sell high and buy low (spread −0.061% now, against its 7-day average of −0.084%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LINK_USDC	12.922	0.0054	pay 0.0054% / 8h	2h 56m	$116K	$1.1M	20x
Short	Kalshi KXLINKPERP	12.914	0	get 0.0000% / 8h	6h 56m	$484K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Orderly. 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 OrderlybpFee KalshibpOrdersPrice spread, now −0.061%Rate

Funding earned: −$11.26
Price spread: −0.061% → −0.084%: $2.3
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$24.96
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	8.30 bp	13.6 bp −$14	21.1 bp −$211	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	12.920	−0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.914	−0.061%	$484K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.921	−0.011%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.040%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDClong	+0.0054%	8h	12.922	long leg	$116K	$1.1M	20x
Phoenix LINK	+0.0074%	1h	12.890	−0.247%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.911	−0.083%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	−0.080%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	−0.103%	$342K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.921	−0.011%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.913	−0.070%	$275K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.925	+0.023%	$119.7M	$300.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.921	−0.008%	$83.4M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.923	+0.008%	$27.3M	$80.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.928	+0.046%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.908	−0.108%	$124.2M	$14.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.917	−0.039%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.917	−0.039%	$22.7M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.923	+0.008%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.919	−0.023%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.937	+0.116%	$339K	$392K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.884	−0.292%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.888	−0.267%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.891	−0.240%	$579K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.906	−0.124%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.919	−0.023%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.920	−0.013%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.938	+0.124%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.921	−0.008%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.899	−0.176%	$633K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.918	−0.028%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.930	+0.062%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.930	+0.062%	$920K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0207%	1h	12.930	+0.060%	$790K	$216K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.925	+0.023%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.924	+0.015%	$6.6M	$8.3M	50x	as long as short
Hyperliquid LINK	+0.0281%	1h	12.925	+0.023%	$80.6M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.910	−0.093%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0562%	8h	12.931	+0.070%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0628%	1h	12.910	−0.093%	$343K	$32K	10x	as long as short