Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: ApeX Omni against Kalshi−0.060%7-day average +0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.060%, 7d avg +0.107%

Together, before fees+0.234%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.167% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of +0.107%). If the spread goes back, that is −$17 on $10k: about 5.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	13.258	0	get 0.0000% / 8h	4h 43m	$475K	$2.4M	3.7x
Short	ApeX Omni LINKUSDT	13.250	0.0100	get 0.0013% / 1h	43m 23s	$154K	$670K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.060%Rate

Funding earned: $21
Price spread: −0.060% → +0.107%: −$16.71
Slippage, 4 orders: −$38.12
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$53.83
Costs to cover: 0.581%
Break-even: 24.9 days

Slippage from Kalshi: live order book, 5 min ago; ApeX Omni: live order book, 35 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 Kalshi live order book, 5 min ago	9.55 bp	14.6 bp −$15	18.1 bp −$181	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 35 min ago	5.31 bp	13.0 bp −$13	92.6 bp −$926	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 −0.0091% / S +0.0167%	1h	13.230	−0.212%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	13.258	long leg	$475K	$2.4M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.228	−0.229%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.230	−0.208%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.267	+0.070%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.472%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.226	−0.241%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.244	−0.102%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.238	−0.151%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.238	−0.151%	$405K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.240	−0.136%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.248	−0.075%	$278K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.230	−0.215%	$123.2M	$303.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.226	−0.241%	$85.4M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.229	−0.219%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.256	−0.015%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.233	−0.189%	$131.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.235	−0.173%	$36.8M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.237	−0.158%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.219	−0.294%	$55.0M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.230	−0.211%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.249	−0.069%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.246	−0.089%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.251	−0.052%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	13.250	−0.060%	$154K	$670K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.238	−0.151%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.223	−0.261%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.240	−0.135%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.219	−0.294%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.238	−0.150%	$651K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.218	−0.304%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.228	−0.223%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.261	+0.023%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.249	−0.068%	$5.3M	$17.3M	75x	as long as short
dYdX LINK-USD	+0.0221%	1h	13.248	−0.074%	$351K	$48K	10x	as long as short
Hyperliquid LINK	+0.0298%	1h	13.250	−0.060%	$78.4M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0359%	1h	13.270	+0.091%	$366K	$380K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.230	−0.208%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0467%	8h	13.274	+0.121%	$20.6M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.227	−0.235%	$7.0M	$8.2M	50x	as long as short