Kalshi leads on 3 of 5 shared benchmarks, Paradex on 2. Kalshi wins on Cheapest perp venue to hold a position, live funding normalized (1.17 bps vs 7.62 bps), Perp DEX volume share, live 24h notional ranked ($1.62B vs $20.14M), Perp DEX funding stability, 24h stddev of ETH funding ranked (0.015% vs 0.052%). Paradex wins on Most tradable markets on a perp DEX, live count per venue (63 vs 20), Perp DEX asset breadth (21 vs 2).
Read methodology Last measured Window: rolling 24h5 shared benchmarks
CFTC-regulated US prediction market exchange. REST trade API (trade-api/v2) with documented per-tier rate limits; the market data WebSocket requires authentication.
Funding is signed. Positive means longs pay shorts, negative means longs get paid to hold. Venues settle on different native periods (1h for Hyperliquid and dYdX, 4h or 8h elsewhere); every figure is normalized from the venue's own quoted rate and interval before ranking. Funding is only the holding cost. Opening costs (taker fee, spread, impact) are the companion bench perp-fees.
Ranked only with 24 hours of funding history (288 samples) and a stddev above zero: a young listing, or a venue whose rate has not moved since listing (Ondo Perps at launch, Polymarket in July), reads artificially stable and shows as Provisional, never as the leader. Stability is not directionality: a persistently positive but tight band ranks above a rate that flips every settlement.
Market count reflects the Mobula perp pairs catalog at query time. Only mainnet markets are counted (testnets excluded). Asset class tags (forex, stocks, indices, commodities) are assigned by Mobula's editorial taxonomy and updated when new pairs are listed. Venues not in the Mobula catalog (Hyperliquid, GMX, dYdX, Ostium, Vertex, Paradex, Aster) are monitored separately: their catalogs are crypto-only or verified crypto-only by native API.
Frequently asked questions
Kalshi vs Paradex: which one is better?
Kalshi and Paradex are compared on 5 shared OpenChainBench benchmarks. Kalshi leads on Cheapest perp venue to hold a position, live funding normalized. Paradex leads on Most tradable markets on a perp DEX, live count per venue. See the live table on this page for every metric.
Which is cheaper, Kalshi or Paradex?
On the Cheapest perp venue to hold a position, live funding normalized benchmark, Kalshi leads at 1.17 bps versus Paradex at 7.62 bps. Live measurement is updated continuously by the OpenChainBench harness.
Which has the higher active markets, Kalshi or Paradex?
On the Most tradable markets on a perp DEX, live count per venue benchmark, Paradex leads at 63 versus Kalshi at 20. Live measurement is updated continuously by the OpenChainBench harness.
How is the Kalshi vs Paradex comparison measured?
Every benchmark on this page uses the same open methodology, published at https://openchainbench.com/methodology. Data is CC-BY-4.0. Measurement harnesses are MIT-licensed.
How this pair was selected
Auto-generated pairs require: both providers in the same benchmark for seven consecutive days, at least 1000 samples per provider, observable third-party search demand, and a public /products/[slug] page on OCB. Editorially curated pairs (like this one) may publish early when search demand is high and data is accruing; panels with fewer than 100 samples are shown as provisional. The full pair ledger is versioned in the public repo.
