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docs: refresh RFQ shadow record (293572 requests)
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content/docs/kalshi/rfq-shadow-record.md

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@@ -7,7 +7,7 @@ tags:
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- trading
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---
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**Last updated 2026-09-19 03:42 UTC. This page rebuilds itself every hour.**
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**Last updated 2026-09-19 04:43 UTC. This page rebuilds itself every hour.**
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A recorder watches Kalshi's parlay request feed continuously and writes to a
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local store. Once an hour that store is re-read, the charts below are redrawn,
@@ -60,14 +60,14 @@ the request appears and again after it closes, and an increase means it filled.
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| | |
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| --- | ---: |
63-
| Requests seen | 292,560 |
64-
| Closed (no longer accepting bids) | 291,769 |
65-
| Followed through their full lifecycle | 291,012 |
66-
| Confirmed executed | 88,171 |
63+
| Requests seen | 293,572 |
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| Closed (no longer accepting bids) | 292,675 |
65+
| Followed through their full lifecycle | 291,976 |
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| Confirmed executed | 88,460 |
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| Earliest request | 2026-09-07 17:41:26 |
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| Most recent request | 2026-09-19 03:40:37 |
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| Most recent request | 2026-09-19 04:38:53 |
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| Median edge to the seller | +0.46 cents per contract |
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| Total edge on executed requests | $109,646.81 |
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| Total edge on executed requests | $109,855.93 |
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## How many bets are bundled together
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@@ -76,13 +76,13 @@ three-leg parlay.
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<svg viewBox="0 0 680 230" role="img" aria-label="number of requests, by how many legs the parlay had" style="width:100%;height:auto;max-width:680px">
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<text x="47" y="63.0" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">34617</text>
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<text x="47" y="108.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">23078</text>
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<text x="47" y="108.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">23146</text>
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<text x="47" y="154.0" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">11539</text>
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<text x="47" y="154.0" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">11573</text>
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<text x="47" y="199.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">0</text>
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@@ -91,7 +91,7 @@ three-leg parlay.
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<text x="100.1" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">2</text>
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<rect x="120.0" y="56.1" width="21.5" height="139.9" fill="var(--secondary)" rx="2"/>
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<text x="130.8" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">3</text>
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<rect x="150.7" y="71.6" width="21.5" height="124.4" fill="var(--secondary)" rx="2"/>
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<rect x="150.7" y="71.5" width="21.5" height="124.5" fill="var(--secondary)" rx="2"/>
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<text x="161.4" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">4</text>
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<rect x="181.4" y="91.7" width="21.5" height="104.3" fill="var(--secondary)" rx="2"/>
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<text x="192.2" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">5</text>
@@ -101,7 +101,7 @@ three-leg parlay.
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<text x="253.5" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">7</text>
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<rect x="273.5" y="131.8" width="21.5" height="64.2" fill="var(--secondary)" rx="2"/>
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<text x="284.2" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">8</text>
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<rect x="304.2" y="140.1" width="21.5" height="55.9" fill="var(--secondary)" rx="2"/>
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<text x="315.0" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">9</text>
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<text x="345.7" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">10</text>
@@ -139,18 +139,18 @@ sport, which is common: a baseball game stapled to a college football spread.
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<svg viewBox="0 0 680 230" role="img" aria-label="number of requests by sport" style="width:100%;height:auto;max-width:680px">
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<text x="47" y="17.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">87536</text>
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<text x="47" y="17.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">87832</text>
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<line x1="54" y1="59.5" x2="668" y2="59.5" stroke="var(--lightgray)" stroke-width="1"/>
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<text x="47" y="63.0" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">65652</text>
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<text x="47" y="63.0" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">65874</text>
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<line x1="54" y1="105.0" x2="668" y2="105.0" stroke="var(--lightgray)" stroke-width="1"/>
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<text x="47" y="108.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">43768</text>
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<text x="47" y="154.0" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">21884</text>
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<text x="47" y="199.5" text-anchor="end" font-size="9" font-family="monospace" fill="var(--gray)">0</text>
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<text x="79.6" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">mixed</text>
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<rect x="112.8" y="92.9" width="35.8" height="103.1" fill="var(--secondary)" rx="2"/>
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<text x="130.8" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">nfl</text>
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<rect x="164.0" y="93.8" width="35.8" height="102.2" fill="var(--secondary)" rx="2"/>
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<text x="181.9" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">mlb</text>
@@ -160,9 +160,9 @@ sport, which is common: a baseball game stapled to a college football spread.
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<text x="284.2" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">other</text>
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<text x="335.4" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">tennis</text>
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<text x="386.6" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">ncaaf</text>
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<text x="488.9" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">wnba</text>
@@ -193,7 +193,7 @@ A value of 0.10 means the bundle is worth about 10 cents to win $1.
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<text x="172.1" y="209" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">4</text>
@@ -15298,6 +15298,7 @@ collected the difference.
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<line x1="62" y1="244" x2="666" y2="244" stroke="var(--gray)" stroke-width="1"/>
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<text x="213.0" y="258" text-anchor="middle" font-size="9" font-family="monospace" fill="var(--gray)">28</text>
@@ -15415,15 +15449,15 @@ risking about $50 to win $500.
1541515449

1541615450
| | requests | median | largest |
1541715451
| --- | ---: | ---: | ---: |
15418-
| Payout if it wins | 92576 | $287 | $421,421 |
15419-
| Amount staked | 199985 | $10.00 | $50,070.00 |
15452+
| Payout if it wins | 92888 | $286 | $421,421 |
15453+
| Amount staked | 200684 | $10.00 | $50,070.00 |
1542015454

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These are small. A median payout in the hundreds of dollars is recreational
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betting, not institutional flow.
1542315457

1542415458
## Bundles whose legs are related
1542515459

15426-
**28,800** of 292,560 requests have two or more legs on the same game.
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**28,838** of 293,572 requests have two or more legs on the same game.
1542715461

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This is the known weak point in the fair value above. Two bets on the same game
1542915463
are not independent: if a team is winning, several legs move together. Real odds

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