Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h +0.002%

Price spread now: gTrade (Gains Network) against Kalshi+0.002%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$321as in the Price arb table

costs, in and out, $10k−$3143.144% of the position

Long on Kalshi Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.002%, 7d avg +0.071%

Together, before fees+0.046%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.069% cheaper against Kalshi than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	13.198	0	get 0.0000% / 8h	3h 25m	$474K	$2.2M	3.7x
Short	gTrade (Gains Network) LINK/USD	13.198	L +0.0004% / S −0.0007%	get 0.0001% / 1h	25m 11s	$134K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.002%Rate

Funding earned: $1.41
Price spread: +0.002% → +0.071%: −$6.89
Slippage, 4 orders: −$294.45
Fee Kalshi: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$319.93
Costs to cover: 3.144%
Break-even: 1593.4 days

Slippage from Kalshi: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 44 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, 3 min ago	10.28 bp	15.7 bp −$16	23.6 bp −$236	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 44 min ago	130.01 bp	142.5 bp −$142	1049.2 bp −$10.5K	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 +0.0167%	1h	13.199	+0.006%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	13.198	long leg	$474K	$2.2M	3.7x
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0007%	1h	13.198	+0.002%	$134K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.046%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.193	−0.038%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0059%	8h	13.201	+0.023%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.203	+0.038%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.235	+0.277%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.195	−0.021%	$405K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.200	+0.013%	$1.4M	$3.0M	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	13.196	−0.015%	$277K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.202	+0.027%	$122.7M	$301.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.199	+0.008%	$84.9M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.198	0.000%	$27.7M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.204	+0.045%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.199	+0.008%	$130.6M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.205	+0.053%	$37.4M	$58.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.208	+0.076%	$23.1M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.198	0.000%	$54.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.199	+0.008%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.187	−0.081%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.180%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.173	−0.189%	$600K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.177	−0.159%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.196	−0.015%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.200	+0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.199	+0.008%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.202	+0.030%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.184	−0.102%	$648K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.199	+0.004%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.203	+0.034%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.200	+0.015%	$1.0M	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0136%	1h	13.209	+0.080%	$784K	$211K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0191%	1h	13.209	+0.083%	$368K	$369K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.196	−0.015%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0363%	1h	13.211	+0.101%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.192	−0.043%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0441%	1h	13.194	−0.031%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0530%	8h	13.212	+0.106%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0576%	1h	13.217	+0.144%	$81.7M	$25.1M	10x	as long as short