Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hpaid last 24h −0.030%

Price spread now: Kalshi against Pacifica−0.102%7-day average −0.071% · you buy dearer than you sell

to open and close $10k−$50fees + slippage, both legs, in and out

costs, in % of the position0.497%what the two incomes have to cover

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$11 on $10k

Price spread, last 3 days (all we have)+0.249%+$25 · spread now −0.102%, 7d avg −0.071%

Together, before fees+0.134%+ Points / potential airdropPacifica: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.030% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.071%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	12.976	0.0100	pay 0.0013% / 1h	41m 43s	$271K	$165K	10x
Short	Kalshi KXLINKPERP	12.963	0	get 0.0000% / 8h	41m 43s	$468K	$2.2M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now −0.102%Rate

Funding earned: −$21
Price spread: −0.102% → −0.071%: −$3.04
Slippage, 4 orders: −$31.67
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$73.72
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Pacifica: live order book, 11 min ago; Kalshi: live order book, 1 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 Pacifica live order book, 11 min ago	4.65 bp	10.9 bp −$11	22.7 bp −$227	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	7.72 bp	13.1 bp −$13	19.8 bp −$198	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
Variational Omni LINK	−0.0113%	8h	12.923	−0.405%	$3.2M	$1.2M	—	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0165%	1h	12.954	−0.169%	$1.7M	—	200x	as long as short
Bybit LINKUSDT	−0.0072%	8h	12.968	−0.061%	$82.7M	$64.3M	75x	as long as short
Phoenix LINK	−0.0019%	1h	12.928	−0.365%	$9K	$78K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	12.980	+0.030%	$344K	$60K	10x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.963	−0.102%	$468K	$2.2M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.964	−0.090%	$688K	$106K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.957	−0.146%	$118K	—	150x	as long as short
OKX LINK-USDT-SWAP	+0.0007%	8h	12.965	−0.084%	$27.1M	$81.0M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0008%	1h	12.961	−0.115%	$1.0M	$2.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_LINKUSD	+0.0018%	1h	12.969	−0.052%	$6.1M	$6.3M	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.438%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.957	−0.146%	$146K	$1.6M	20x	as long as short
HTX LINK-USDT	+0.0077%	8h	12.933	−0.331%	$628K	$889K	75x	as long as short
MEXC LINK_USDT	+0.0088%	8h	12.973	−0.022%	$35.0M	$55.1M	300x	as long as short
Binance LINKUSDT	+0.0090%	8h	12.976	0.000%	$118.7M	$288.7M	75x	as long as short
Lighter LINK	+0.0096%	1h	12.978	+0.014%	$2.0M	$2.2M	10x	as long as short
Paradex LINK-USD-PERP	+0.0097%	8h	12.970	−0.046%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.951	−0.192%	$391K	$291K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.987	+0.085%	$75.8M	$22.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.977	+0.012%	$1.4M	$2.4M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	12.976	long leg	$271K	$165K	10x
Arcus LINK-USD	+0.0100%	1h	12.984	+0.062%	$182K	$139K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.973	−0.022%	$129.9M	$12.0M	75x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.975	−0.007%	$21.5M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.969	−0.053%	$53.9M	$29.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.969	−0.053%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.942	−0.261%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.946	−0.234%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.949	−0.207%	$131K	$651K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.956	−0.153%	$77K	$56K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.956	−0.153%	$24K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.968	−0.063%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.961	−0.115%	$5K	$39K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.963	−0.100%	$631K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.964	−0.088%	$545K	$340	3x	as long as short
Backpack LINK_USDC_PERP	+0.0140%	1h	12.973	−0.022%	$353K	$371K	15x	as long as short
BloFin LINK-USDT	+0.0209%	8h	12.949	−0.207%	$5.2M	$13.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0367%	1h	12.950	−0.196%	$4K	$200	20x	as long as short
Phemex LINKUSDT	+0.0449%	8h	12.973	−0.022%	$20.1M	$11.3M	50x	as long as short