Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Polymarket Perps against Kalshi−0.169%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Polymarket Perps is 0.169% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.169% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5.6 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.161%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	12.870	0	get 0.0000% / 8h	4h 35m	$504K	$2.3M	3.7x
Short	Polymarket Perps LINK-USD	12.848	0.0100	get 0.0013% / 1h	35m 23s	$80K	$70K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.169%Rate

Funding earned: $21
Price spread: −0.169% → 0.000%: −$16.94
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$13.94
Costs to cover: 0.180%
Break-even: 11.6 days

Slippage unknown: Kalshi: live order book, 3 min ago; Polymarket Perps: no order-book sample. 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 Kalshi live order book, 3 min ago	10.52 bp	15.5 bp −$16	20.0 bp −$200	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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 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	12.845	−0.195%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0071%	8h	12.835	−0.270%	$90K	$1.1M	20x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	12.870	long leg	$504K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.842	−0.219%	$154K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0007%	1h	12.849	−0.162%	$804K	$268K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.650%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.862	−0.060%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.848	−0.166%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.846	−0.185%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.842	−0.212%	$345K	$344K	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	12.854	−0.123%	$80.3M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.848	−0.167%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.851	−0.149%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.842	−0.216%	$118.6M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.839	−0.239%	$83.1M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.841	−0.224%	$27.0M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.862	−0.061%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.844	−0.200%	$132.4M	$17.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.845	−0.193%	$34.4M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.848	−0.169%	$22.7M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.841	−0.224%	$53.8M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.841	−0.224%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.865	−0.037%	$334K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.851	−0.146%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.862	−0.061%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.887	+0.132%	$585K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.864	−0.045%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USDshort	+0.0100%	1h	12.848	−0.169%	$80K	$70K	10x
Derive LINK-PERP	+0.0100%	1h	12.856	−0.106%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.856	−0.106%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.846	−0.185%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.845	−0.196%	$628K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.854	−0.125%	$6.4M	$8.5M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.839	−0.240%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.848	−0.173%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.875	+0.040%	$929K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.851	−0.146%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0400%	1h	12.841	−0.227%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0558%	8h	12.865	−0.037%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0578%	1h	12.852	−0.141%	$342K	$45K	10x	as long as short