Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Kalshi+0.021%78s7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as 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−$570.572% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.021%, 7d avg +0.102%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.081% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.102%). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). The two prices were read 78 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	Kalshi KXLINKPERP	12.920	0	get 0.0000% / 8h	4h 57m	$513K	$2.3M	3.7x
Short	ApeX Omni LINKUSDT	12.923	0.0100	get 0.0013% / 1h	57m 40s	$132K	$670K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now +0.021%Rate

Funding earned: $21
Price spread: +0.021% → +0.102%: −$8.06
Slippage, 4 orders: −$37.19
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$44.26
Costs to cover: 0.572%
Break-even: 21.8 days

Slippage from Kalshi: live order book, 1 min ago; ApeX Omni: live order book, 46 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 Kalshi live order book, 1 min ago	8.63 bp	13.8 bp −$14	18.8 bp −$188	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 46 min ago	6.98 bp	14.6 bp −$15	112.2 bp −$1,122	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 −0.0087% / S +0.0165%	1h	12.916	−0.030%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0046%	8h	12.910	−0.080%	$92K	$1.1M	20x	as long as short
dYdX LINK-USD	0.0000%	1h	12.918	−0.021%	$344K	$45K	10x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	12.920	long leg	$513K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.915	−0.044%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.027%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.923	+0.019%	$3K	$84K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.904	−0.126%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.892	−0.217%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	−0.087%	$354K	$339K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.911	−0.072%	$80.9M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.899	−0.167%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.900	−0.161%	$274K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.895	−0.196%	$119.1M	$298.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.891	−0.227%	$83.3M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.893	−0.211%	$27.1M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.913	−0.057%	$180K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.904	−0.126%	$134.2M	$17.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.896	−0.188%	$33.8M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.898	−0.173%	$22.8M	$12.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.892	−0.219%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.893	−0.211%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.922	+0.013%	$336K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.906	−0.109%	$3.3M	$1.9M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.915	−0.037%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.915	−0.038%	$581K	$3.0M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.923	+0.021%	$132K	$670K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.914	−0.049%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.911	−0.073%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.926	+0.044%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.914	−0.049%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.906	−0.113%	$630K	$782K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.917	−0.028%	$6.5M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.889	−0.239%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.917	−0.028%	$542K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0160%	1h	12.923	+0.022%	$808K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.929	+0.067%	$931K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.919	−0.010%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.908	−0.096%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0551%	8h	12.930	+0.075%	$20.0M	$11.3M	50x	as long as short