Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Arcus−0.061%7-day average −0.117% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on Arcus Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.104%−$10 on $10k

Price spread, last 4 days (all we have)+0.868%+$87 · spread now −0.061%, 7d avg −0.117%

Together, before fees+0.764%+$76 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.057% dearer against Arcus than usual: you sell high and buy low (spread −0.061% now, against its 7-day average of −0.117%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	13.007	0.0100	pay 0.0013% / 1h	53m 59s	$182K	$165K	10x
Short	Kalshi KXLINKPERP	12.999	0	get 0.0000% / 8h	1h 53m	$468K	$2.2M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Arcus. 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 ArcusbpFee KalshibpOrdersPrice spread, now −0.061%Rate

Funding earned: −$21
Price spread: −0.061% → −0.117%: $5.67
Slippage, 4 orders: −$42.56
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$72.4
Costs to cover: 0.571%
Break-even: never at this rate

Slippage from Arcus: live order book, 9 min ago; Kalshi: live order book, 4 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 Arcus live order book, 9 min ago	11.89 bp	15.8 bp −$16	32.2 bp −$322	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	8.20 bp	13.4 bp −$13	17.7 bp −$177	doesn't fit	doesn't fit

LINK on 39 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	12.988	−0.145%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.999	−0.061%	$468K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.990	−0.132%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.667%	$4K	$48K	12x	as long as short
ApeX Omni LINKUSDT	+0.0039%	1h	12.976	−0.238%	$133K	$672K	50x	as long as short
Phoenix LINK	+0.0049%	1h	13.039	+0.248%	$3K	$84K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.010	+0.023%	$953K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.996	−0.085%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.998	−0.069%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.990	−0.127%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.990	−0.131%	$395K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.001	−0.045%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	−0.115%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.992	−0.115%	$119.6M	$296.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.985	−0.169%	$84.0M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.989	−0.138%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.007	long leg	$182K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	12.987	−0.154%	$128.1M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.108%	$32.1M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.998	−0.069%	$23.0M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.988	−0.146%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.987	−0.154%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.995	−0.092%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.210%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	−0.198%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.973	−0.260%	$586K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.993	−0.108%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.995	−0.094%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.003	−0.033%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.002	−0.038%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.151%	$641K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.987	−0.156%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.004	−0.027%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0265%	1h	13.005	−0.016%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.984	−0.178%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0428%	1h	12.994	−0.102%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.005	−0.012%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0596%	8h	13.007	0.000%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0640%	1h	13.007	0.000%	$81.4M	$26.4M	10x	as long as short