LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.66 per $10,000 · paid last 24h −0.029%

Price spread now: Kalshi against Orderly+0.210%7-day average −0.099% · you sell dearer than you buy

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

Long on Orderly Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 3 days (all we have)−0.329%−$33 · spread now +0.210%, 7d avg −0.099%

Together, before fees−0.533%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.309% dearer against Orderly than usual: you sell high and buy low (spread +0.210% now, against its 7-day average of −0.099%): +$31 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LINK_USDC	13.214	0.0066	pay 0.0066% / 8h	3h 32m	$138K	$1.6M	20x
Short	Kalshi KXLINKPERP	13.242	0	get 0.0000% / 8h	7h 32m	$461K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Orderly. 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 OrderlybpFee KalshibpOrdersPrice spread, now +0.210%Rate

Funding earned: −$13.86
Price spread: +0.210% → −0.099%: $30.87
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $1.01
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Kalshi: live order book, 2 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	9.34 bp	14.9 bp −$15	18.9 bp −$189	doesn't fit	doesn't fit

Orderly: 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 −0.0092% / S +0.0165%	1h	13.252	+0.290%	$1.7M	—	200x	as long as short
Variational Omni LINK	−0.0028%	8h	13.192	−0.169%	$3.4M	$1.3M	—	as long as short
Phoenix LINK	−0.0012%	1h	13.236	+0.166%	$3K	$79K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.253	+0.293%	$351K	$60K	10x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	13.242	+0.210%	$461K	$2.3M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.221	+0.055%	$704K	$108K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.255	+0.313%	$158K	—	150x	as long as short
Kraken Futures PF_LINKUSD	+0.0025%	1h	13.230	+0.122%	$6.2M	$6.5M	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.160%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0056%	1h	13.226	+0.091%	$998K	$2.7M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_LINK_USDClong	+0.0066%	8h	13.214	long leg	$138K	$1.6M	20x
OKX LINK-USDT-SWAP	+0.0082%	8h	13.265	+0.386%	$28.2M	$85.6M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.254	+0.299%	$2.1M	$2.3M	10x	as long as short
Bybit LINKUSDT	+0.0097%	8h	13.264	+0.378%	$85.6M	$66.7M	75x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.251	+0.282%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.245	+0.238%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.262	+0.363%	$78.1M	$22.3M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.250	+0.274%	$1.4M	$2.6M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.254	+0.303%	$277K	$161K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.249	+0.267%	$122.6M	$297.3M	75x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.264	+0.378%	$200K	$154K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.248	+0.257%	$132.3M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.250	+0.272%	$35.7M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.253	+0.295%	$21.8M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.250	+0.272%	$55.1M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.259	+0.341%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.197	−0.132%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	−0.120%	$601K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.274	+0.454%	$154K	$658K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.252	+0.288%	$80K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.215	+0.005%	$25K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.230	+0.125%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.218	+0.030%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.201	−0.098%	$644K	$887K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.242	+0.209%	$676K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.220	+0.046%	$556K	$340	3x	as long as short
Backpack LINK_USDC_PERP	+0.0108%	1h	13.265	+0.386%	$363K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.226	+0.091%	$5.2M	$16.3M	75x	as long as short
Reya LINKRUSDPERP	+0.0370%	1h	13.246	+0.240%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0455%	8h	13.257	+0.325%	$20.5M	$11.4M	50x	as long as short