> ## Documentation Index
> Fetch the complete documentation index at: https://docs.getpanther.app/llms.txt
> Use this file to discover all available pages before exploring further.

# Arbitrage Scanner

> Spot price gaps for the same outcome across Kalshi and Polymarket.

The **Arbitrage Scanner** continuously compares Kalshi and Polymarket, hunting for the same real-world outcome priced differently on each venue. When the two prices disagree enough, buying the cheap side on one venue and the opposite side on the other can lock in a profit no matter what happens. Open it with <kbd>/</kbd> → `ARB`.

![Arbitrage scanner listing cross-venue opportunities ranked by profit](https://cdn.getpanther.app/docs/web-arbitrage.png)

## How an arb works

Suppose the same question trades at **Yes 21¢ on Kalshi** while Polymarket implies **No 4¢** (Yes ≈ 96¢). Buying Kalshi-Yes and Polymarket-No costs **25¢ combined** — but exactly one of those contracts must pay out **\$1.00** at resolution. That's a 75¢ gross profit per pair, whatever the outcome.

The scanner finds these pairs for you and does the math.

## Reading the table

| Column            | What it tells you                                                                                 |
| ----------------- | ------------------------------------------------------------------------------------------------- |
| **Match**         | The market pair, matched across venues                                                            |
| **Profit %**      | Return on the combined cost if held to resolution                                                 |
| **Range**         | How the opportunity has varied recently                                                           |
| **Kalshi / Poly** | The two legs — which side to buy on each venue, at what price                                     |
| **Combined**      | Total cost of both legs (under \$1.00 = locked-in gross profit)                                   |
| **Spread**        | The gross profit per pair, in cents                                                               |
| **Volume**        | How much is tradable — can the opportunity absorb your size?                                      |
| **Expires**       | How long your money is committed until resolution                                                 |
| **Sim**           | Similarity score — how confident the scanner is that the two markets are really the same question |
| **Stab**          | Stability — how long the opportunity has persisted                                                |

Set your **stake** at the top and the scanner sizes everything to your number. Use the **Prediction Markets / Sports** tabs to switch between cross-venue prediction arbs and sportsbook arbs, and the sort controls to rank by profit, expiry, match quality, or volume.

## Before you pull the trigger

<Warning>
  Huge profit percentages usually come with a catch. Work through this checklist:

  1. **Read both markets' resolution rules.** A high **Sim** score helps, but only you can confirm the two markets resolve on *identical* terms. "Before the July meeting" ≠ "at the July meeting."
  2. **Check the volume.** A 1000% arb with \$3K of depth is a small opportunity, not a big one.
  3. **Mind the timeline.** Your cash is locked until resolution — a 40% return that takes 3 years is very different from one that pays Friday.
  4. **Move fast on stable arbs.** The **Stab** column shows persistence; fresh spikes often vanish in seconds.
</Warning>

## Acting on an opportunity

Click through a row to open the market on each venue, then place the two legs from the [order slip](/trading/placing-orders). Both venues trade from the same Panther balance — see [Adding funds](/accounts/deposits).

<Note>
  True arbitrage needs funds on **both** venues, since you're buying a leg on each.
</Note>