Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Nado+0.111%7-day average −0.043% · 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−$25as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Nado Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.111%, 7d avg −0.043%

Together, before fees−0.254%+ Points / potential airdropNado: Active · farm board−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.154% dearer against Nado than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of −0.043%): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.907	0.0100	pay 0.0012% / 1h	46m 27s	$342K	$339K	10x
Short	Kalshi KXLINKPERP	12.921	0	get 0.0000% / 8h	6h 46m	$516K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Nado. 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 NadobpFee KalshibpOrdersPrice spread, now +0.111%Rate

Funding earned: −$21
Price spread: +0.111% → −0.043%: $15.35
Slippage, 4 orders: −$23.66
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$46.3
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Nado: live order book, 1 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 Nado live order book, 1 min ago	1.16 bp	7.4 bp −$7	20.0 bp −$200	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	8.27 bp	13.3 bp −$13	18.9 bp −$189	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	12.905	−0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.921	+0.111%	$516K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.907	−0.003%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.928%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	12.901	−0.046%	$114K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.945	+0.295%	$3K	$82K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0075%	1h	12.912	+0.038%	$789K	$221K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.908	+0.011%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.904	−0.024%	$31K	$2K	20x	as long as short
Nado LINK-PERPlong	+0.0100%	1h	12.907	long leg	$342K	$339K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.909	+0.012%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.910	+0.022%	$275K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.900	−0.054%	$119.4M	$300.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.898	−0.070%	$83.2M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.899	−0.062%	$27.3M	$80.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.108%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.901	−0.046%	$124.3M	$14.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.899	−0.062%	$33.2M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.910	+0.023%	$22.7M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.903	−0.031%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.904	−0.023%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.912	+0.039%	$338K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.930	+0.180%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.936	+0.226%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.937	+0.232%	$587K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.934	+0.209%	$132K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.905	−0.015%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.905	−0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.918	+0.082%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.907	0.000%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.895	−0.093%	$633K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.897	−0.077%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.908	+0.004%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.937	+0.232%	$919K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.908	+0.008%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.910	+0.025%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0283%	1h	12.912	+0.039%	$80.6M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.897	−0.078%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0577%	8h	12.926	+0.147%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.1061%	1h	12.906	−0.007%	$343K	$32K	10x	as long as short