Calendar
The rule
- Buys
- the favourite side, priced 80 to 95c, at the touch
- When
- nine minutes before the round closes
- Books
- BTC, ETH, SOL, XRP, DOGE
- Holds
- to settlement, no exits
- Guards
- follows the ask up inside the band; skips if it fell under the floor by send time; skips past 95c
- Skips
- the 9:45, 10:15 and 10:30 New York closes on stock-market days
The edge is the favourite's mispricing at the mid minus half the spread. It clears once the spread is near a cent, and not before.
| Round | Risk | Stake | Edge behind it |
|---|---|---|---|
| Sat/Sun, top of the hour | 3.57x | – | +3.59c a contract |
| Mon-Fri, top of the hour | 2.38x | – | +1.34c |
| Sat/Sun, off the hour | 1.78x | – | +0.08c |
| Mon-Fri, off the hour | not traded | – | -0.80c, loses in both regimes |
Raw preference is 2x on the hour and 1.5x at the weekend, divided by how often each cell comes up. So the money staked across a week is unchanged: this moves it, it does not add any. "Top of the hour" is the round closing at :00, all 24 of them, not the first hour of the day.
Evidence, recomputed nightly
Proof, per book
Recomputed from the tape every night, not pasted in. The error bar clusters on the expiry instant, because rounds that settle together lose together: five simultaneous positions are worth about 1.7 independent bets, so an unclustered figure overstates by roughly 1.7 times.
| Scope | Wins | Pays | Edge | t | Rounds |
|---|---|---|---|---|---|
The settlement basis
Kalshi settles on the CF Benchmarks index averaged over the final sixty seconds. The desk records Coinbase, which runs below it. Each round's strike is the previous round's settlement value, so the gap is re-estimated from the last seven days and added to the distance before the gate reads it.
| Asset | Basis | t | Rounds | |
|---|---|---|---|---|
Calls
Account real money
| When | Note | Book | Buy | Price | Size | What happened | P&L |
|---|---|---|---|---|---|---|---|
Research
| Tested | Market | Angle | Finding | Verdict | Fit | Holdout | 1c worse | $/day | |
|---|---|---|---|---|---|---|---|---|---|
Index markets
Rules the registry, with tonight's re-score over the whole store and the last 14 days
| Rule | What it does | Status | n | net | t | 14d n | 14d net | win | $/day |
|---|---|---|---|---|---|---|---|---|---|
Paper book one call per market per rule, sized to the touch, graded from the exchange result
| When | Market | Rule | Side | Price | Model | At touch | Size | Left | Result | P&L |
|---|---|---|---|---|---|---|---|---|---|---|
Engine roomretired paper bots, the paper switch, live books, collector ticks
Paper switch
Paper every rule, $10 a call, nothing sent
Loading.
Bots
| When | Bot | Series | Rule | Buy | Price | Size | Book | What happened | P&L, exits |
|---|---|---|---|---|---|---|---|---|---|
Rules
| Bot | Rule | State | Last 20 | Net 20 | Net 20, exits | All time | Net, held | Net, exits | Graded today |
|---|---|---|---|---|---|---|---|---|---|
Live board
| Series | Closes in | Strike | Spot | vs open | Yes bid | Yes ask | Mid | Spread | Depth yes | Depth no | Last minute | Taker yes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Collector
| Ran at | From | Rounds | Snaps | Tape | Settled | Took | Errors |
|---|---|---|---|---|---|---|---|