Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Pacifica−0.052%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$470.467% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$12 on $10k

Price spread, last 3 days (all we have)+0.318%+$32 · spread now −0.052%, 7d avg −0.067%

Together, before fees+0.203%+ Points / potential airdropPacifica: Active · farm board+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.067%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.101	0.0100	pay 0.0013% / 1h	35m 04s	$275K	$152K	10x
Short	Kalshi KXLINKPERP	13.094	0	get 0.0000% / 8h	6h 35m	$465K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now −0.052%Rate

Funding earned: −$21
Price spread: −0.052% → −0.067%: $1.5
Slippage, 4 orders: −$28.65
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$66.15
Costs to cover: 0.467%
Break-even: never at this rate

Slippage from Pacifica: live order book, 53 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 Pacifica live order book, 53 min ago	4.16 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	7.63 bp	13.1 bp −$13	20.6 bp −$206	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 −0.0091% / S +0.0165%	1h	13.103	+0.017%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	13.094	−0.052%	$465K	$2.3M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.108	+0.049%	$710K	$119K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.104	+0.018%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.072	−0.225%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0029%	1h	13.100	−0.009%	$347K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.352%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0049%	8h	13.097	−0.032%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0059%	8h	13.098	−0.024%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.109	+0.062%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.100	−0.008%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.101	0.000%	$398K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.124	+0.174%	$77.6M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.108	+0.052%	$1.6M	$2.7M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.101	long leg	$275K	$152K	10x
Binance LINKUSDT	+0.0100%	8h	13.111	+0.078%	$121.2M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.113	+0.090%	$84.5M	$69.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.114	+0.098%	$27.6M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.115	+0.105%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.107	+0.044%	$130.4M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.108	+0.052%	$35.8M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.110	+0.067%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.115	+0.105%	$54.2M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.109	+0.059%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.124	+0.174%	$362K	$369K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.077	−0.188%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	+0.083%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.110	+0.067%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.106	+0.036%	$80K	$65K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.101	−0.004%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.112	+0.080%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.104	+0.021%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.082	−0.146%	$643K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.113	+0.088%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.107	+0.044%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.099	−0.017%	$987K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.103	+0.014%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.103	+0.015%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0495%	8h	13.120	+0.143%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.114	+0.097%	$7.0M	$7.8M	50x	as long as short