Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Nado−0.018%7-day average −0.043% · 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−$43as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Nado Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.100%−$10 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.018%, 7d avg −0.043%

Together, before fees−0.159%+ Points / potential airdropNado: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.025% dearer against Nado than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.043%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.912	0.0100	pay 0.0012% / 1h	39m 47s	$390K	$311K	10x
Short	Kalshi KXLINKPERP	12.910	0	get 0.0000% / 8h	39m 47s	$486K	$2.2M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Nado. 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 NadobpFee KalshibpOrdersPrice spread, now −0.018%Rate

Funding earned: −$21
Price spread: −0.018% → −0.043%: $2.52
Slippage, 4 orders: −$28.61
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$64.09
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Nado: live order book, 18 min ago; Kalshi: live order book, 4 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 Nado live order book, 18 min ago	1.16 bp	8.5 bp −$8	19.9 bp −$199	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	9.77 bp	14.9 bp −$15	20.2 bp −$202	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 −0.0090% / S +0.0167%	1h	12.902	−0.081%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.910	−0.018%	$486K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.900	−0.097%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.969%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0059%	8h	12.898	−0.112%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.894	−0.146%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.916	+0.027%	$941K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.894	−0.140%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	−0.003%	$31K	$2K	20x	as long as short
Nado LINK-PERPlong	+0.0100%	1h	12.912	long leg	$390K	$311K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.896	−0.124%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.914	+0.013%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.895	−0.139%	$119.2M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.890	−0.174%	$83.1M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.882	−0.236%	$27.2M	$81.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.913	+0.004%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.895	−0.136%	$127.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.893	−0.151%	$32.1M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.897	−0.120%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.895	−0.136%	$53.6M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.893	−0.151%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.900	−0.097%	$337K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.888	−0.189%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	−0.097%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.886	−0.204%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.167%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.917	+0.035%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.899	−0.103%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.925	+0.100%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.897	−0.120%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	−0.158%	$631K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.889	−0.184%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.903	−0.075%	$541K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0122%	1h	12.906	−0.048%	$771K	$193K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.894	−0.143%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0348%	1h	12.910	−0.019%	$80.8M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.906	−0.051%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0396%	1h	12.896	−0.125%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0574%	8h	12.907	−0.043%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0661%	1h	12.892	−0.156%	$341K	$30K	10x	as long as short