Can you arbitrage between Kalshi and FanDuel?
FanDuel prices a much wider prop menu than Kalshi lists, so arbitrage between them is not spread evenly across a slate — it clusters on the handful of markets Kalshi has chosen to list, which are the headline ones. A FanDuel board of four hundred props and a Kalshi board of thirty overlap on thirty, and every position this page can find lives inside that overlap.
FanDuel is the largest book by handle in most states, which means its prices move early and move on volume. Kalshi lists fewer markets and each of them has fewer participants. The result is asymmetric: FanDuel is usually the venue that has already repriced, and the two-sided position appears because the Kalshi contract has not caught up yet rather than the other way round.
What the fees do to a Kalshi and FanDuel position
One example, the same two posted prices on every pair page, put through these two venues' own published schedules.
| Leg | Price | Implied | Venue fee | Net cost |
|---|---|---|---|---|
| Kalshi | +112 | 47.17% | 2¢ per $1 | 49.17% |
| FanDuel | -104 | 50.98% | none | 50.98% |
| Both sides | — | 98.15% | — | 100.15% |
On the posted numbers, +112 at Kalshi against -104 at FanDuel is a position worth $1.85 per $100.00 staked. Kalshi charges 2¢ per $1 on its leg, and FanDuel takes nothing separate on its leg. Once Kalshi and FanDuel have both been paid there is nothing left: the two sides cost 100.15% of a certainty between them, so holding both would cost $0.15 rather than return anything. A calculator that ignores the Kalshi vs FanDuel fee schedules would have reported the $1.85 and stopped.
Fees are stated in dollars per $1 of potential payout, which is the one unit both models fit in — a per-contract trading fee and a commission charged on winnings are otherwise not comparable. Schedules: Kalshi — Kalshi taker fee schedule, Jul 2026; FanDuel — no separate fee.
Live Kalshi and FanDuel positions
These decay in minutes. An arbitrage is a snapshot of two prices that were live moments ago, and it decays in minutes — often in seconds once either venue notices. Confirm BOTH prices at BOTH venues before staking either leg. A position with one leg filled and the other gone is not an arbitrage; it is a one-sided bet you did not intend to make. Venues also limit, void or refuse stakes at their discretion, so the profit is guaranteed by the arithmetic and by nothing else.
Kalshi and FanDuel are both quoting Passing Touchdowns, Pitcher Outs, Strikeouts, Moneyline, Spread, and Total on the board right now, and a two-sided position can only exist inside that overlap.
No arbitrage between Kalshi and FanDuel on the board right now
Premium shows both sides of each position: the bet, the venue and price for each leg, how to split a $100.00 stake, and what it returns either way. The count above is live and is usually zero — arbitrage is rare, which is the point of watching for it.
Go PremiumTaking one: what goes wrong on this pair
The trap on this pair is a line that is not the same line. FanDuel prices receiving yards as an over/under on a number; Kalshi lists the same player as a series of "X or more" contracts. Those are the same bet only when the thresholds correspond exactly, and a half-point difference between them is not an arbitrage — it is a middle, with a real chance of losing both legs. Every position on this page is matched on the identical line, and a pair that is a half point apart is discarded rather than shown with a caveat.
Kalshi. Kalshi charges a per-contract trading fee instead of building a margin into the line. The fee is a curve, not a flat rake: it peaks at roughly 1.75¢ on a contract priced near 50¢ and shrinks toward zero at both extremes, and maker fees are a quarter of taker fees.
FanDuel. FanDuel's margin is inside the price, so it is charged on every bet regardless of the result.
Kalshi vs FanDuel arbitrage FAQ
Can you arbitrage between Kalshi and FanDuel?
Yes, on the markets both venues price. Kalshi lists a narrower menu than FanDuel, so the overlap is concentrated on headline player props and game lines, and a two-sided position can only exist where both have a live price on the identical line.
Why are there so few Kalshi and FanDuel arbitrage opportunities?
Because the two boards barely overlap. FanDuel prices several hundred props per slate and Kalshi lists a few dozen, so most of FanDuel's board has no Kalshi counterpart at all and cannot produce a two-sided position no matter how the prices move.
Is a Kalshi "X or more" contract the same bet as a FanDuel over?
Only when the threshold matches the line exactly. Kalshi lists player markets as yes or no contracts at a whole number, and FanDuel usually prices a half point, so the two are frequently adjacent rather than identical. Pairing them anyway produces a middle, not an arbitrage.
Does FanDuel allow arbitrage betting?
FanDuel does not prohibit it, but its terms let it limit stake sizes on any account at its discretion, and accounts that consistently take one side of a moved market are the ones that get limited.
Next
- Which of the two is cheaper on the props they both price →
- Every live arbitrage, across every venue →
- What arbitrage betting is, and how to stay unrestricted →
- Kalshi vs DraftKings arbitrage →
- Polymarket vs DraftKings arbitrage →
- Polymarket vs FanDuel arbitrage →
- Novig vs DraftKings arbitrage →
- Kalshi vs Polymarket arbitrage →