Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Pacifica+0.187%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$12 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now +0.187%, 7d avg −0.067%

Together, before fees−0.037%+ Points / potential airdropPacifica: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.254% dearer against Pacifica than usual: you sell high and buy low (spread +0.187% now, against its 7-day average of −0.067%): +$25 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.133	0.0100	pay 0.0013% / 1h	0m 38s	$275K	$151K	10x
Short	Kalshi KXLINKPERP	13.158	0	get 0.0000% / 8h	6h 00m	$470K	$2.3M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now +0.187%Rate

Funding earned: −$21
Price spread: +0.187% → −0.067%: $25.44
Slippage, 4 orders: −$32.25
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$45.81
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from Pacifica: live order book, 23 min ago; Kalshi: live order book, 3 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 Pacifica live order book, 23 min ago	3.04 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	9.43 bp	14.4 bp −$14	21.3 bp −$213	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 −0.0090% / S +0.0167%	1h	13.145	+0.090%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	13.158	+0.187%	$470K	$2.3M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.142	+0.068%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.147	+0.101%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0012%	1h	13.133	−0.004%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.132	−0.008%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.584%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.139	+0.043%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.136	+0.022%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.128	−0.041%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.146	+0.100%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.143	+0.073%	$77.4M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.137	+0.027%	$1.5M	$2.8M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.133	long leg	$275K	$151K	10x
Binance LINKUSDT	+0.0100%	8h	13.132	−0.011%	$121.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.129	−0.034%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.132	−0.011%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.148	+0.111%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.133	−0.003%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.132	−0.011%	$36.6M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.139	+0.043%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.131	−0.018%	$54.3M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.134	+0.005%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.121	−0.095%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.135	+0.009%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.165%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.126	−0.056%	$153K	$665K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.148	+0.111%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.135	+0.012%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.167	+0.254%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.137	+0.027%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.119	−0.109%	$645K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.129	−0.033%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.140	+0.054%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.150	+0.126%	$990K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.145	+0.088%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.149	+0.119%	$5.3M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.145	+0.085%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0479%	8h	13.157	+0.180%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.145	+0.085%	$6.9M	$8.0M	50x	as long as short