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Polymarket–Kalshi Spread

polymarket_kalshi_spread
Read-onlyIdempotent

Cross-venue spread between Kalshi and Polymarket for the same resolving question. The two venues sometimes price the same outcome 2-25pp apart because their participant pools differ — when the bet shapes are equivalent that delta is a real signal, when they aren't the tool says so. TWO MODES: (1) topic — 10 pre-mapped macro shortcuts ("fed", "btc", "cpi", "gdp", "sp500", "recession", "next_pope", "next_uk_pm", "next_israel_pm", "2028_president") auto-fetch the matching event on each venue. (2) explicit kalshi_event_ticker + polymarket_event_slug for custom pairings — BOTH modes run the identical token-overlap matcher, so the same disclosures apply to both. RESPONSE: each venue's leg-by-leg prices (raw probability 0-1) plus matched spread[].top_spreads_pp (Kalshi − Polymarket) where the same outcome shows up on both sides. SAFETY FIELDS: compatibility_warning is a sentence and compatibility_codes[] the machine-readable form; BOTH can be non-empty on returned pairs, so read them even when matched_pairs>0. Codes: event_subject_mismatch (the two event titles share no subject words — probably not the same question), temporal_mismatch (they resolve in different months), temporal_alignment_unknown (the resolution month could not be parsed on one or both sides — NOT the same as confirmed-aligned; check each event's close/strike date yourself), non_equivalent_bet_shapes, no_candidate_pairs, unclassified_legs_excluded, pairing_unverified (set in EITHER mode whenever pairs are returned: the legs were matched by keyword and word overlap, not a shared resolution source). Each entry in top_spreads_pp carries its own flags[] (temporal_mismatch, temporal_alignment_unknown, event_subject_mismatch, low_token_overlap). A leg whose metric_type or match_subtype is "unknown" is NEVER paired — those comparisons land in spread.skipped_unclassified and, when the wording lined up, in spread.low_confidence_pairs[] for inspection only. temporal_alignment{polymarket_month,kalshi_month,aligned} tells you whether the two events resolve in the same calendar period, in EITHER mode; null means it could not be computed (see temporal_alignment_unknown), not that the two sides align. spread.fees_note is a standing disclosure: Kalshi charges per-contract trading fees, Polymarket does not, and this tool does not model Kalshi's fee schedule — every spread_pp is gross, not a net tradeable edge. skipped_cross_type / skipped_cross_subtype counters expose how many leg-pair comparisons were dropped (cross-type = metric_type mismatch like MoM vs YoY; cross-subtype = inequality mismatch like cum_ge vs cum_le). Real cross-venue spreads are rarer than the macro-shortcut list suggests — most pre-mapped topics return compatibility_warning today; pre-mapped ≠ tradeable.

Input Schema

TableJSON Schema
NameRequiredDescriptionDefault
topicNoPre-mapped: fed | btc | cpi | gdp | sp500 | recession | next_pope | next_uk_pm | next_israel_pm | 2028_president
kalshi_event_tickerNoExplicit Kalshi event ticker, e.g. "KXFED-26OCT". Overrides the topic-mapped Kalshi side.
polymarket_event_slugNoExplicit Polymarket event slug, e.g. "fed-decision-in-june-825". Overrides the topic-mapped Polymarket side.

Schema Changelog

Changes observed during successful MCP inspections. Dates show when Glama detected each change.

  1. Changed1 schema field changed
    • addedInput schema / examples
      Added value: +[
      +  {
      +    "topic": "fed"
      +  },
      +  {
      +    "topic": "btc"
      +  }
      +]
  2. Added

TDQS

A4.7/5.0
Behavior5/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

This description goes far beyond the annotations, which only indicate readOnly/openWorld/idempotent/non-destructive behavior. It discloses that Kalshi fees are not modeled, that spreads are gross not net, that pairing is keyword-based rather than source-verified, and that null alignment means 'could not be computed' rather than confirmed. These are exactly the kind of behavioral nuances an agent needs to interpret results correctly, and nothing contradicts the annotations.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness4/5

Is the description appropriately sized, front-loaded, and free of redundancy?

The description is long and dense, but it is well-structured: it front-loads the core purpose, then organizes content under conceptual sections (modes, response, safety fields, codes, fee note, skipped counters). Some caveats are repeated, such as temporal_alignment caveats and the gross-vs-net fee point, making it slightly less concise than ideal. However, every sentence carries practical information needed to use the tool safely.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness5/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

With no output schema, the description must fully explain response semantics, and it does: it describes leg-by-leg prices, top_spreads_pp, compatibility_warning vs compatibility_codes, per-entry flags, skipped_unclassified, low_confidence_pairs, temporal_alignment, fees_note, and skipped_cross counters. It also covers edge cases like unknown metric types and unverifiable pairings. An agent has enough information to invoke the tool and interpret its results correctly.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters5/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

Even though the schema covers all parameters, the description adds substantial semantic value: it explains the two mutually exclusive modes, lists the 10 pre-mapped topic shortcuts, and clarifies that explicit ticker/slug parameters override the topic-mapped side. It also explains that both modes run the same token-overlap matcher, which affects how the parameters should be interpreted. This is a clear case of description meaningfully enriching the schema.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose5/5

Does the description clearly state what the tool does and how it differs from similar tools?

The description opens with a specific and informative statement: 'Cross-venue spread between Kalshi and Polymarket for the same resolving question.' It immediately conveys the tool's unique focus and differentiates it from single-venue or general arbitrage tools. The two modes ('topic' shortcuts and explicit ticker/slug pairing) further clarify exactly what the tool does and how it can be invoked.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines4/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

The description gives strong context for when the tool is appropriate: it compares equivalent bet shapes and explicitly warns that non-equivalent shapes are flagged. It also cautions that 'pre-mapped ≠ tradeable' and that most pre-mapped topics return warnings today, guiding expectations. It does not explicitly name sibling alternatives like polymarket_arbitrage, so it misses the highest bar for when-to-use versus alternatives, but the usage context is otherwise clear and actionable.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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