Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0384%/8h= +42.1% APRpaid last 24h +0.105%

Price spread now: Reya against Kalshi−0.141%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.141% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.141% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 29 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLINKPERP	13.020	0	get 0.0000% / 8h	2h 17m	$473K	$2.3M	3.7x
Short	Reya LINKRUSDPERP	13.001	0.0384	get 0.0048% / 1h	17m 37s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.141%Rate

Funding earned: $80.74
Price spread: −0.141% → 0.000%: −$14.07
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $50.67
Costs to cover: 0.160%
Break-even: 2.6 days

Slippage unknown: Kalshi: live order book, 1 min ago; Reya: 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	7.03 bp	12.0 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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	13.011	−0.065%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPlong	0.0000%	8h	13.020	long leg	$473K	$2.3M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.011	−0.068%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.758%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.000	−0.148%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.005	−0.111%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.013	−0.050%	$954K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.998	−0.167%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.996	−0.177%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.997	−0.171%	$395K	$322K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.999	−0.156%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.999	−0.154%	$276K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.997	−0.175%	$119.4M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.989	−0.234%	$83.8M	$72.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.991	−0.219%	$27.4M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.008	−0.088%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.998	−0.165%	$128.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.992	−0.211%	$33.0M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.996	−0.180%	$23.1M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.988	−0.242%	$54.0M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.989	−0.234%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.111%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.014	−0.039%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.032	+0.096%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.012	−0.058%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.010	−0.073%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.007	−0.097%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.016	−0.027%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	−0.058%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.247%	$641K	$858K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.985	−0.268%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.011	−0.062%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0114%	1h	13.008	−0.088%	$338K	$386K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0157%	1h	13.014	−0.038%	$773K	$212K	50x	as long as short
dYdX LINK-USD	+0.0381%	1h	12.993	−0.204%	$344K	$35K	10x	as long as short
Reya LINKRUSDPERPshort	+0.0384%	1h	13.001	−0.141%	$4K	—	20x
Hyperliquid LINK	+0.0457%	1h	13.015	−0.035%	$80.6M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.018	−0.009%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0590%	8h	13.018	−0.012%	$20.1M	$11.5M	50x	as long as short