Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Polymarket Perps against Kalshi+0.032%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.032% dearer against Kalshi than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.161%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	13.178	0	get 0.0000% / 8h	3h 27m	$474K	$2.2M	3.7x
Short	Polymarket Perps LINK-USD	13.182	0.0100	get 0.0013% / 1h	27m 07s	$82K	$69K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.032%Rate

Funding earned: $21
Price spread: +0.032% → 0.000%: $3.19
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $6.19
Costs to cover: 0.180%
Break-even: 4.9 days

Slippage unknown: Kalshi: live order book, 1 min ago; Polymarket Perps: no order-book sample. Net counts fees only.

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	10.28 bp	15.7 bp −$16	23.6 bp −$236	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	13.176	−0.017%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	13.178	long leg	$474K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.177	−0.010%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.902%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.174	−0.032%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	13.174	−0.029%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.173	−0.037%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.209	+0.235%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.171	−0.055%	$404K	$309K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.176	−0.014%	$1.4M	$3.0M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.169	−0.064%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.172	−0.044%	$122.4M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.169	−0.067%	$84.7M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.169	−0.067%	$27.6M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.186	+0.062%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.172	−0.044%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	−0.036%	$37.2M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.179	+0.009%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.174	−0.029%	$54.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.172	−0.044%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.175	−0.018%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	−0.124%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.174	−0.026%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.167	−0.082%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USDshort	+0.0100%	1h	13.182	+0.032%	$82K	$69K	10x
Derive LINK-PERP	+0.0100%	1h	13.174	−0.028%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.188	+0.078%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	−0.036%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.156%	$647K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.171	−0.054%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.177	−0.005%	$553K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0107%	1h	13.182	+0.029%	$783K	$211K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.186	+0.062%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0187%	1h	13.182	+0.032%	$367K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.178	+0.002%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.182	+0.035%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.176	−0.017%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0465%	1h	13.167	−0.085%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0545%	8h	13.193	+0.115%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0579%	1h	13.189	+0.085%	$81.6M	$25.1M	10x	as long as short