Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.016%

Price spread now: Kalshi against SoDEX+0.118%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Kalshi

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—needs both histories

The price spread pays, funding is against you. Kalshi is 0.118% dearer against SoDEX than usual: you sell high and buy low (spread +0.118% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX LINK-USD	13.109	0.0100	pay 0.0013% / 1h	14m 36s	$5K	$35K	10x
Short	Kalshi KXLINKPERP	13.124	0	get 0.0000% / 8h	4h 14m	$472K	$2.4M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now +0.118%Rate

Funding earned: −$21
Price spread: +0.118% → 0.000%: $11.82
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$27.18
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Kalshi: live order book, 4 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 4 min ago	8.99 bp	14.0 bp −$14	20.0 bp −$200	doesn't fit	doesn't fit

SoDEX: 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	13.111	+0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	13.124	+0.118%	$472K	$2.4M	3.7x
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.112	+0.023%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.110	+0.008%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.123	+0.110%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.408%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.105	−0.031%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.107	−0.015%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.107	−0.017%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.105	−0.027%	$400K	$310K	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	13.111	+0.014%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.110	+0.006%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.101	−0.064%	$121.7M	$305.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.101	−0.061%	$84.4M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.100	−0.069%	$27.6M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.121	+0.092%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.109	0.000%	$130.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.105	−0.031%	$36.3M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.112	+0.023%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.098	−0.084%	$54.5M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.102	−0.053%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.125	+0.119%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.105	−0.027%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.119	+0.078%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.107	−0.015%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.104	−0.038%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.105	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.125	+0.124%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USDlong	+0.0100%	1h	13.109	long leg	$5K	$35K	10x
HTX LINK-USDT	+0.0100%	8h	13.113	+0.027%	$645K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.100	−0.069%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.111	+0.019%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.125	+0.122%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0219%	1h	13.116	+0.053%	$362K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.117	+0.061%	$5.2M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0291%	1h	13.124	+0.114%	$77.9M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.099	−0.078%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.116	+0.051%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.127	+0.137%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0529%	1h	13.110	+0.010%	$347K	$48K	10x	as long as short