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: Arcus against Kalshi+0.061%7-day average +0.117% · 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−$63as in the Price arb table

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

Long on Kalshi Short on Arcus

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

Funding pays, the price is against you. Arcus is 0.057% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.061% now, against its 7-day average of +0.117%). If the spread goes back, that is −$6 on $10k: about 45 hours 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	12.999	0	get 0.0000% / 8h	1h 53m	$468K	$2.2M	3.7x
Short	Arcus LINK-USD	13.007	0.0100	get 0.0013% / 1h	53m 46s	$182K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.061%Rate

Funding earned: $21
Price spread: +0.061% → +0.117%: −$5.66
Slippage, 4 orders: −$42.56
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$41.73
Costs to cover: 0.571%
Break-even: 20.9 days

Slippage from Kalshi: live order book, 5 min ago; Arcus: live order book, 9 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	8.20 bp	13.5 bp −$14	20.2 bp −$202	doesn't fit	doesn't fit
Sell Arcus live order book, 9 min ago	11.89 bp	14.3 bp −$14	22.9 bp −$229	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	−0.085%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	12.999	long leg	$468K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.990	−0.072%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.609%	$4K	$48K	12x	as long as short
ApeX Omni LINKUSDT	+0.0039%	1h	12.976	−0.178%	$133K	$672K	50x	as long as short
Phoenix LINK	+0.0049%	1h	13.039	+0.309%	$3K	$84K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.010	+0.084%	$953K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.996	−0.024%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.998	−0.009%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.990	−0.067%	$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	−0.070%	$395K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.992	−0.053%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	−0.054%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.998	−0.009%	$119.6M	$296.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.993	−0.047%	$84.1M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.995	−0.032%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	13.007	+0.061%	$182K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	12.989	−0.078%	$128.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.047%	$32.1M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	−0.055%	$23.0M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.992	−0.055%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.994	−0.039%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.995	−0.032%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.271%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	−0.137%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.973	−0.199%	$586K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.993	−0.047%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.995	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.003	+0.028%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.002	+0.022%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.091%	$641K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.987	−0.096%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.004	+0.034%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0265%	1h	13.005	+0.045%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.984	−0.117%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0428%	1h	12.994	−0.041%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.005	+0.049%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0596%	8h	13.007	+0.061%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0654%	1h	13.014	+0.115%	$81.4M	$26.4M	10x	as long as short