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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. First observed

TDQS

A4.6/5.0
Behavior5/5

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

Annotations already declare readOnly, idempotent, openWorld, and non-destructive, and the description adds substantial behavioral detail beyond that: compatibility codes, temporal alignment null vs unknown semantics, the fee caveat, skipped-leg counters, and the fact that returned pairs are matched by keyword overlap, not a shared resolution source. This is unusually transparent about limitations.

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 but well-structured with labeled sections: modes, response, safety fields, codes, skipped counters, and fee disclosure. It front-loads the core purpose and most sentences carry unique information. The density of codes and caveats makes it slightly heavier than strictly necessary, but it earns most of its length.

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 carries the full burden of explaining the response, and it does: top_spreads_pp, compatibility_warning/codes, temporal_alignment, skipped_unclassified, low_confidence_pairs, fees_note, and skipped counters are all defined. Given the tool's complexity, the description is complete enough for an agent to call it and interpret results without external references.

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

Parameters4/5

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

Schema description coverage is 100%, so the baseline is 3, but the description adds meaning beyond the schema: it defines the topic parameter as pre-mapped shortcuts, explains that explicit ticker/slug override the mapped side, and notes that both modes share the same matcher. It does not exhaustively explain every parameter interaction, so 4 rather than 5.

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 verb and resource: 'Cross-venue spread between Kalshi and Polymarket for the same resolving question.' It clearly differentiates from siblings like polymarket_arbitrage and polymarket_edges by explicitly naming Kalshi as the second venue and by describing the shared-question matching logic.

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 explicitly lays out two modes — topic shortcuts vs explicit ticker/slug — and tells the agent both run the same matcher. It also warns that pre-mapped topics are often not tradeable ('pre-mapped ≠ tradeable'), providing clear usage expectations. It does not explicitly name alternative sibling tools or state when not to use this tool, so it stops short of full when/when-not routing.

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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