Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.016%

Price spread now: Kalshi against SoDEX+0.073%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kalshi is 0.073% dearer against SoDEX than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX LINK-USD	13.039	0.0100	pay 0.0013% / 1h	3m 18s	$15K	$41K	10x
Short	Kalshi KXLINKPERP	13.049	0	get 0.0000% / 8h	2h 03m	$470K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now +0.073%Rate

Funding earned: −$21
Price spread: +0.073% → 0.000%: $7.29
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$31.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Kalshi: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	6.74 bp	12.0 bp −$12	19.1 bp −$191	doesn't fit	doesn't fit

SoDEX: 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 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
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.029	−0.078%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	13.049	+0.073%	$470K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.031	−0.061%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.901%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.036	−0.027%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.036	−0.023%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.033	−0.046%	$953K	$2.6M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.040	+0.007%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.035	−0.034%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.034	−0.042%	$396K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.036	−0.021%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.036	−0.023%	$276K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.031	−0.065%	$119.8M	$298.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.023	−0.123%	$84.1M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.025	−0.107%	$27.5M	$82.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.047	+0.061%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.032	−0.054%	$128.5M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.028	−0.084%	$33.1M	$59.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.032	−0.054%	$23.1M	$13.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.024	−0.115%	$54.1M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.026	−0.100%	—	$22.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	−0.389%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.499%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.003	−0.276%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.976	−0.483%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.042	+0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.037	−0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.047	+0.061%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USDlong	+0.0100%	1h	13.039	long leg	$15K	$41K	10x
HTX LINK-USDT	+0.0100%	8h	12.957	−0.627%	$639K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.035	−0.028%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.039	−0.001%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0145%	1h	13.032	−0.054%	$339K	$377K	15x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	13.030	−0.069%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0418%	1h	13.033	−0.043%	$345K	$31K	10x	as long as short
Hyperliquid LINK	+0.0480%	1h	13.052	+0.100%	$81.3M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.046	+0.053%	$6.8M	$8.0M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0525%	1h	13.042	+0.025%	$775K	$212K	50x	as long as short
Phemex LINKUSDT	+0.0606%	8h	13.046	+0.054%	$20.1M	$11.6M	50x	as long as short