Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h +0.002%

Price spread now: gTrade (Gains Network) against Kalshi−0.091%7-day average +0.073% · 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−$326as in the Price arb table

costs, in and out, $10k−$3093.094% of the position

Long on Kalshi Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.148%+$15 · spread now −0.091%, 7d avg +0.073%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.163% cheaper against Kalshi than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	13.220	0	get 0.0000% / 8h	4h 42m	$475K	$2.4M	3.7x
Short	gTrade (Gains Network) LINK/USD	13.208	L +0.0004% / S −0.0007%	get 0.0001% / 1h	42m 19s	$134K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.091%Rate

Funding earned: $1.38
Price spread: −0.091% → +0.073%: −$16.35
Slippage, 4 orders: −$289.42
Fee Kalshi: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$324.39
Costs to cover: 3.094%
Break-even: 1657.6 days

Slippage from Kalshi: live order book, 1 min ago; gTrade (Gains Network): virtual book (oracle venue), 32 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, 1 min ago	3.89 bp	15.7 bp −$16	20.5 bp −$205	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 32 min ago	130.05 bp	142.5 bp −$143	1049.2 bp −$10.5K	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	13.207	−0.095%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	13.220	long leg	$475K	$2.4M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.208	−0.085%	$724K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0007%	1h	13.208	−0.091%	$134K	—	150x
Phoenix LINK	+0.0012%	1h	13.267	+0.360%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.201%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.203	−0.126%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.204	−0.119%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.210	−0.074%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.211	−0.066%	$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	13.213	−0.051%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.217	−0.022%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.210	−0.073%	$123.0M	$303.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.206	−0.104%	$85.2M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.205	−0.111%	$27.9M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.230	+0.078%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.211	−0.066%	$130.9M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.209	−0.081%	$36.8M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.215	−0.036%	$22.6M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.203	−0.126%	$54.9M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.209	−0.081%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.249	+0.220%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.246	+0.200%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.251	+0.238%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.250	+0.229%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.214	−0.043%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.204	−0.122%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.220	+0.002%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.204	−0.119%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.207	−0.098%	$650K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.202	−0.136%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.207	−0.092%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.242	+0.169%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.229	+0.070%	$5.3M	$17.3M	75x	as long as short
dYdX LINK-USD	+0.0232%	1h	13.216	−0.027%	$350K	$48K	10x	as long as short
Hyperliquid LINK	+0.0292%	1h	13.226	+0.048%	$78.3M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0348%	1h	13.229	+0.070%	$365K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.207	−0.093%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.226	+0.048%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.215	−0.034%	$7.0M	$8.2M	50x	as long as short