Cross-platform spread detection across Polymarket, Kalshi & Limitless
Cross-platform spread detection across Polymarket, Kalshi & Limitless
When the same event has different prices on Polymarket vs Kalshi, there's a spread. E.g., "Team X wins" at 55% on Polymarket but 60% on Kalshi = 5pp spread.
Buy YES on the cheap platform ($0.55) and NO on the expensive platform ($0.40). Total cost: $0.95. Guaranteed payout: $1.00. Profit: $0.05 per share.
Kalshi charges price-dependent fees (up to 7¢/contract). Polymarket has no explicit fees but has bid/ask spread. Settlement rules may differ. Capital is locked until resolution. USDC/USD peg risk on Polymarket.
Polymarket uses an order book model with no explicit trading fees. Your real cost is the bid/ask spread, which is already reflected in the prices shown. Gas fees on Polygon are negligible (<$0.01).
Fee per contract = min(7¢, ⌈7% × price × (1−price) × 100⌉). Highest at 50/50 prices (~7¢), drops toward 0 at extreme prices. We calculate per-outcome using the actual price, not a flat rate.
Annualized return = net_profit% × (365 / days_to_resolution). Simple annualization, not compound — you can't reinvest in the same arb after it resolves. Uses earliest resolution date between platforms.
| # | Event | Outcome Breakdown | Total Cost | Gap | After Fees | APY | Volume | $100 |
|---|---|---|---|---|---|---|---|---|
| 1 | Federal Reserve Interest Rate Decision - March 2023 |
Scanned 0 Polymarket + 0 Kalshi binary,0 Polymarket multi-outcome × 0 Kalshi binary, plus 3 canonically-linked events. Markets are currently pricing consistently across platforms.
| # | Event | Top Outcomes | Sum | Gap | After Fees | APY | Volume | Trade |
|---|---|---|---|---|---|---|---|---|
| 1 | How many Fed rate cuts in 2026? | 0 (0 bps)35% 1 (25 bps)27% 2 (50 bps) |
| Event | Polymarket | Kalshi | Status | Volume |
|---|---|---|---|---|
Federal Reserve Interest Rate Decision - March 2023 economics | Active (4) | - | Live | $33.86M |
Federal Reserve Interest Rate Decision economics | $0 | $0 | Waiting | $1.06M |
| 55.1¢ per $1 payout |
44.9pp |
| +81.5% |
10.0K% 1d |
$33.86M |
| +$81.49 |
| 96.5% |
3.5pp |
| +3.6% |
5% 285d |
$284.8K OI: $1.16M |
| Trade |
Federal Reserve Interest Rate Decision in June 2026 economics |
| Active (5) |
| Active (11) |
| Live |
| $371.0K |