LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.017%

Price spread now: Kalshi against Bybit+0.114%51s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.423% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.114%, 7d avg +0.011%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.102% dearer against Bybit than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of +0.011%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.4 days. The two prices were read 51 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	Bybit LINKUSDT	12.946	0.0100	pay 0.0100% / 8h	2h 01m	$83.5M	$73.5M	75x
Short	Kalshi KXLINKPERP	12.961	0	get 0.0000% / 8h	6h 01m	$526K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now +0.114%Rate

Funding earned: −$21
Price spread: +0.114% → +0.011%: $10.25
Slippage, 4 orders: −$21.26
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$53.01
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Kalshi: live order book, 2 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 Bybit live order book, 3 min ago	0.39 bp	8.1 bp −$8	11.1 bp −$111	33.4 bp −$3,343	doesn't fit
Sell Kalshi live order book, 2 min ago	8.79 bp	14.0 bp −$14	19.9 bp −$199	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	12.949	+0.026%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.961	+0.114%	$526K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.950	+0.030%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0022%	8h	12.944	−0.015%	$95K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.218%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.094%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.956	+0.079%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.950	+0.031%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	+0.035%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.955	+0.067%	$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	12.955	+0.073%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.952	+0.046%	$119.4M	$302.6M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.946	long leg	$83.5M	$73.5M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.952	+0.046%	$27.0M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.969	+0.178%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.948	+0.015%	$124.6M	$15.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.954	+0.062%	$33.0M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.954	+0.062%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.951	+0.039%	$54.1M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.950	+0.031%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	+0.195%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	+0.057%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	+0.095%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.970	+0.185%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.955	+0.070%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.951	+0.035%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.967	+0.161%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.956	+0.077%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.941	−0.038%	$634K	$785K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.946	−0.003%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.954	+0.062%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.961	+0.116%	$936K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0135%	1h	12.965	+0.147%	$338K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	+0.108%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0248%	1h	12.966	+0.154%	$80.8M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0276%	1h	12.960	+0.110%	$6.7M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0337%	1h	12.962	+0.124%	$808K	$254K	50x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.949	+0.022%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0576%	8h	12.974	+0.216%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0598%	1h	12.957	+0.088%	$345K	$33K	10x	as long as short