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Kalshi API

Kalshi is a CFTC-regulated prediction market exchange where users trade on the outcomes of real-world events.

Check this skill and the official documentation FREQUENTLY. The canonical machine-readable index of all docs lives at:

https://docs.kalshi.com/llms.txt

Always consult

llms.txt

to discover every available page before building. It is the single source of truth for endpoint references, SDK docs, WebSocket channels, FIX protocol details, and getting-started guides.

Kalshi是受美国商品期货交易委员会（CFTC）监管的预测市场交易所，用户可针对现实世界事件的结果进行交易。

请频繁查阅本技能和官方文档。所有文档的标准机器可读索引位于：

https://docs.kalshi.com/llms.txt

在开发前，请务必查阅

llms.txt

以了解所有可用页面。它是端点参考、SDK文档、WebSocket通道、FIX协议细节以及入门指南的唯一可信来源。

Key Concepts (Glossary)

核心概念（术语表）

Term	Definition
Market	A single binary outcome contract (Yes / No) with prices in cents (1–99¢).
Event	A collection of related markets representing a real-world occurrence (e.g., an election, a weather reading).
Series	A template for recurring events that share the same structure and rules (e.g., "Daily Highest Temp in NYC").
Orderbook	Bids only — in binary markets a YES bid at X¢ is equivalent to a NO ask at (100−X)¢.
Fill	A matched trade on one of your orders.
Settlement	The final resolution of a market (Yes or No) after determination.
Multivariate Event	A combo event created dynamically from a multivariate event collection.

Full glossary: https://docs.kalshi.com/getting_started/terms.md

术语	定义
Market（市场）	单个二元结果合约（是/否），价格以美分计价（1-99美分）。
Event（事件）	一组相关市场的集合，代表某一现实世界事件（例如选举、天气读数）。
Series（系列）	具有相同结构和规则的重复事件模板（例如“纽约每日最高气温”）。
Orderbook（订单簿）	仅包含买单——在二元市场中，X美分的YES买单等价于(100−X)美分的NO卖单。
Fill（成交）	您的某笔订单达成的匹配交易。
Settlement（结算）	市场在结果确定后的最终决议（是或否）。
Multivariate Event（多元事件）	从多元事件集合中动态创建的组合事件。

完整术语表：https://docs.kalshi.com/getting_started/terms.md

Base URLs

基础URL

Environment	REST API	WebSocket
Production	`https://api.elections.kalshi.com/trade-api/v2`	`wss://api.elections.kalshi.com/trade-api/ws/v2`
Demo	`https://demo-api.kalshi.co/trade-api/v2`	`wss://demo-api.kalshi.co/trade-api/ws/v2`

Note: Despite the
elections
subdomain, the production URL serves ALL Kalshi markets — economics, weather, tech, entertainment, etc.

Demo environment info: https://docs.kalshi.com/getting_started/demo_env.md

环境	REST API	WebSocket
生产环境	`https://api.elections.kalshi.com/trade-api/v2`	`wss://api.elections.kalshi.com/trade-api/ws/v2`
演示环境	`https://demo-api.kalshi.co/trade-api/v2`	`wss://demo-api.kalshi.co/trade-api/ws/v2`

注意： 尽管域名包含
elections
，生产环境URL仍适用于所有Kalshi市场——包括经济、天气、科技、娱乐等领域。

演示环境信息：https://docs.kalshi.com/getting_started/demo_env.md

Documentation & References

文档与参考

All detailed examples, request/response schemas, and walkthroughs live in the official docs. Always consult these before building:

Resource	URL
Full documentation index (llms.txt)	https://docs.kalshi.com/llms.txt
Introduction	https://docs.kalshi.com/welcome/index.md
Making your first request	https://docs.kalshi.com/getting_started/making_your_first_request.md
Quick Start: Market Data	https://docs.kalshi.com/getting_started/quick_start_market_data.md
Quick Start: Authenticated Requests	https://docs.kalshi.com/getting_started/quick_start_authenticated_requests.md
Quick Start: Create Your First Order	https://docs.kalshi.com/getting_started/quick_start_create_order.md
Quick Start: WebSockets	https://docs.kalshi.com/getting_started/quick_start_websockets.md
API Keys guide	https://docs.kalshi.com/getting_started/api_keys.md
Rate Limits & Tiers	https://docs.kalshi.com/getting_started/rate_limits.md
Pagination	https://docs.kalshi.com/getting_started/pagination.md
Orderbook Responses	https://docs.kalshi.com/getting_started/orderbook_responses.md
Historical Data	https://docs.kalshi.com/getting_started/historical_data.md
Subpenny Pricing	https://docs.kalshi.com/getting_started/subpenny_pricing.md
Fixed-Point Contracts	https://docs.kalshi.com/getting_started/fixed_point_contracts.md
OpenAPI Spec (YAML)	https://docs.kalshi.com/openapi.yaml
API Changelog	https://docs.kalshi.com/changelog/index.md
Kalshi Platform	https://kalshi.com
Demo Platform	https://demo.kalshi.co

所有详细示例、请求/响应模式以及操作指南均位于官方文档中。开发前请务必查阅：

资源	URL
完整文档索引（llms.txt）	https://docs.kalshi.com/llms.txt
介绍	https://docs.kalshi.com/welcome/index.md
发起您的第一笔请求	https://docs.kalshi.com/getting_started/making_your_first_request.md
快速入门：市场数据	https://docs.kalshi.com/getting_started/quick_start_market_data.md
快速入门：认证请求	https://docs.kalshi.com/getting_started/quick_start_authenticated_requests.md
快速入门：创建您的第一笔订单	https://docs.kalshi.com/getting_started/quick_start_create_order.md
快速入门：WebSocket	https://docs.kalshi.com/getting_started/quick_start_websockets.md
API密钥指南	https://docs.kalshi.com/getting_started/api_keys.md
速率限制与等级	https://docs.kalshi.com/getting_started/rate_limits.md
分页	https://docs.kalshi.com/getting_started/pagination.md
订单簿响应	https://docs.kalshi.com/getting_started/orderbook_responses.md
历史数据	https://docs.kalshi.com/getting_started/historical_data.md
亚分定价	https://docs.kalshi.com/getting_started/subpenny_pricing.md
定点合约	https://docs.kalshi.com/getting_started/fixed_point_contracts.md
OpenAPI规范（YAML）	https://docs.kalshi.com/openapi.yaml
API更新日志	https://docs.kalshi.com/changelog/index.md
Kalshi平台	https://kalshi.com
演示平台	https://demo.kalshi.co

Authentication

认证

Kalshi uses RSA-PSS signed requests (not Bearer tokens). Every authenticated request requires three headers:

Header	Value
`KALSHI-ACCESS-KEY`	Your API Key ID
`KALSHI-ACCESS-TIMESTAMP`	Current Unix timestamp in milliseconds
`KALSHI-ACCESS-SIGNATURE`	Base64-encoded RSA-PSS signature of `{timestamp}{METHOD}{path}`

Important: When signing, use the path without query parameters. For example, sign

/trade-api/v2/portfolio/orders

even if the request URL is

/trade-api/v2/portfolio/orders?limit=5

Kalshi使用RSA-PSS签名请求（而非Bearer令牌）。每笔认证请求都需要三个请求头：

请求头	值
`KALSHI-ACCESS-KEY`	您的API密钥ID
`KALSHI-ACCESS-TIMESTAMP`	当前Unix时间戳（毫秒）
`KALSHI-ACCESS-SIGNATURE`	`{timestamp}{METHOD}{path}` 的Base64编码RSA-PSS签名

重要提示： 签名时，请使用不含查询参数的路径。例如，即使请求URL是

/trade-api/v2/portfolio/orders?limit=5

，也要对

/trade-api/v2/portfolio/orders

进行签名。

Generating API Keys

生成API密钥

Log in → Account Settings → API Keys section.
Click "Create New API Key" to generate an RSA key pair.
Store the private key immediately — it cannot be retrieved again.

Full guide: https://docs.kalshi.com/getting_started/api_keys.md

登录 → 账户设置 → API密钥部分。
点击“Create New API Key”生成RSA密钥对。
立即存储私钥——私钥无法再次找回。

完整指南：https://docs.kalshi.com/getting_started/api_keys.md

Python Signing Example

Python签名示例

python

import base64, datetime, requests
from cryptography.hazmat.primitives import serialization, hashes
from cryptography.hazmat.primitives.asymmetric import padding

def load_private_key(file_path):
    with open(file_path, "rb") as f:
        return serialization.load_pem_private_key(f.read(), password=None)

def sign_pss(private_key, text: str) -> str:
    sig = private_key.sign(
        text.encode("utf-8"),
        padding.PSS(mgf=padding.MGF1(hashes.SHA256()), salt_length=padding.PSS.DIGEST_LENGTH),
        hashes.SHA256(),
    )
    return base64.b64encode(sig).decode("utf-8")

def kalshi_headers(key_id, private_key, method, path):
    ts = str(int(datetime.datetime.now().timestamp() * 1000))
    path_no_qs = path.split("?")[0]
    sig = sign_pss(private_key, ts + method + path_no_qs)
    return {
        "KALSHI-ACCESS-KEY": key_id,
        "KALSHI-ACCESS-SIGNATURE": sig,
        "KALSHI-ACCESS-TIMESTAMP": ts,
    }

python

import base64, datetime, requests
from cryptography.hazmat.primitives import serialization, hashes
from cryptography.hazmat.primitives.asymmetric import padding

def load_private_key(file_path):
    with open(file_path, "rb") as f:
        return serialization.load_pem_private_key(f.read(), password=None)

def sign_pss(private_key, text: str) -> str:
    sig = private_key.sign(
        text.encode("utf-8"),
        padding.PSS(mgf=padding.MGF1(hashes.SHA256()), salt_length=padding.PSS.DIGEST_LENGTH),
        hashes.SHA256(),
    )
    return base64.b64encode(sig).decode("utf-8")

def kalshi_headers(key_id, private_key, method, path):
    ts = str(int(datetime.datetime.now().timestamp() * 1000))
    path_no_qs = path.split("?")[0]
    sig = sign_pss(private_key, ts + method + path_no_qs)
    return {
        "KALSHI-ACCESS-KEY": key_id,
        "KALSHI-ACCESS-SIGNATURE": sig,
        "KALSHI-ACCESS-TIMESTAMP": ts,
    }

JavaScript Signing Example

JavaScript签名示例

javascript

const crypto = require("crypto");
const fs = require("fs");

function signPss(privateKeyPem, text) {
  const sign = crypto.createSign("RSA-SHA256");
  sign.update(text);
  sign.end();
  return sign.sign({
    key: privateKeyPem,
    padding: crypto.constants.RSA_PKCS1_PSS_PADDING,
    saltLength: crypto.constants.RSA_PSS_SALTLEN_DIGEST,
  }).toString("base64");
}

function kalshiHeaders(keyId, privateKeyPem, method, path) {
  const ts = Date.now().toString();
  const pathNoQs = path.split("?")[0];
  const sig = signPss(privateKeyPem, ts + method + pathNoQs);
  return {
    "KALSHI-ACCESS-KEY": keyId,
    "KALSHI-ACCESS-SIGNATURE": sig,
    "KALSHI-ACCESS-TIMESTAMP": ts,
  };
}

javascript

const crypto = require("crypto");
const fs = require("fs");

function signPss(privateKeyPem, text) {
  const sign = crypto.createSign("RSA-SHA256");
  sign.update(text);
  sign.end();
  return sign.sign({
    key: privateKeyPem,
    padding: crypto.constants.RSA_PKCS1_PSS_PADDING,
    saltLength: crypto.constants.RSA_PSS_SALTLEN_DIGEST,
  }).toString("base64");
}

function kalshiHeaders(keyId, privateKeyPem, method, path) {
  const ts = Date.now().toString();
  const pathNoQs = path.split("?")[0];
  const sig = signPss(privateKeyPem, ts + method + pathNoQs);
  return {
    "KALSHI-ACCESS-KEY": keyId,
    "KALSHI-ACCESS-SIGNATURE": sig,
    "KALSHI-ACCESS-TIMESTAMP": ts,
  };
}

SDKs

SDK

Kalshi provides official SDKs. Prefer these for production integrations:

SDK	Install	Docs
Python (sync)	`pip install kalshi_python_sync`	https://docs.kalshi.com/sdks/python/quickstart.md
Python (async)	`pip install kalshi_python_async`	https://docs.kalshi.com/sdks/python/quickstart.md
TypeScript	`npm install kalshi-typescript`	https://docs.kalshi.com/sdks/typescript/quickstart.md

The old
kalshi-python
package is deprecated. Migrate to
kalshi_python_sync
or
kalshi_python_async
.

SDK overview: https://docs.kalshi.com/sdks/overview.md

For production applications, consider generating your own client from the OpenAPI spec.

Kalshi提供官方SDK。生产环境集成建议优先使用SDK：

SDK	安装方式	文档
Python（同步）	`pip install kalshi_python_sync`	https://docs.kalshi.com/sdks/python/quickstart.md
Python（异步）	`pip install kalshi_python_async`	https://docs.kalshi.com/sdks/python/quickstart.md
TypeScript	`npm install kalshi-typescript`	https://docs.kalshi.com/sdks/typescript/quickstart.md

旧版
kalshi-python
包已弃用。请迁移至
kalshi_python_sync
或
kalshi_python_async
。

SDK概览：https://docs.kalshi.com/sdks/overview.md

对于生产应用，可考虑从OpenAPI规范生成自定义客户端。

Rate Limits

速率限制

Tier	Read	Write
Basic	20/s	10/s
Advanced	30/s	30/s
Premier	100/s	100/s
Prime	400/s	400/s

Write-limited endpoints:

CreateOrder

CancelOrder

AmendOrder

DecreaseOrder

BatchCreateOrders

BatchCancelOrders

. In batch APIs each item counts as 1 transaction (except

BatchCancelOrders

where each cancel = 0.2 transactions).

Full details: https://docs.kalshi.com/getting_started/rate_limits.md

等级	读取	写入
基础版	20次/秒	10次/秒
进阶版	30次/秒	30次/秒
高级版	100次/秒	100次/秒
旗舰版	400次/秒	400次/秒

受写入限制的端点：

CreateOrder

CancelOrder

AmendOrder

DecreaseOrder

BatchCreateOrders

BatchCancelOrders

。在批量API中，每个条目计为1次交易（

BatchCancelOrders

除外，每笔取消计为0.2次交易）。

详细信息：https://docs.kalshi.com/getting_started/rate_limits.md

Pagination

分页

The API uses cursor-based pagination. Responses include a

cursor

field; pass it as

?cursor={value}

on the next request. An empty/null cursor means no more pages. Default page size is 100 (max typically 1000).

Full guide: https://docs.kalshi.com/getting_started/pagination.md

API使用基于游标（cursor）的分页。响应中包含

cursor

字段；在下一次请求中，将其作为

?cursor={value}

参数传递。空值或null游标表示没有更多页面。默认页面大小为100（最大值通常为1000）。

完整指南：https://docs.kalshi.com/getting_started/pagination.md

REST API Endpoints Overview

REST API端点概览

Below is a summary organized by domain. For full request/response schemas, see the linked docs or browse https://docs.kalshi.com/llms.txt.

以下是按领域分类的摘要。如需完整的请求/响应模式，请查阅链接文档或浏览https://docs.kalshi.com/llms.txt。

Markets

市场

Endpoint	Method	Auth	Description
`/markets`	GET	No	List markets with filters (status, series, timestamps). Docs: Get Markets
`/markets/{ticker}`	GET	No	Get a single market by ticker. Docs: Get Market
`/markets/{ticker}/orderbook`	GET	No	Get current orderbook (yes bids + no bids). Docs: Get Market Orderbook
`/markets/{ticker}/candlesticks`	GET	No	Candlestick data (1m, 1h, 1d). Docs: Get Market Candlesticks
`/markets/candlesticks`	POST	No	Batch candlesticks for up to 100 tickers. Docs: Batch Get Market Candlesticks
`/markets/trades`	GET	No	All public trades. Docs: Get Trades
`/series/{ticker}`	GET	No	Get a series. Docs: Get Series
`/series`	GET	No	List series. Docs: Get Series List

端点	方法	是否需要认证	描述
`/markets`	GET	否	带筛选条件列出市场（状态、系列、时间戳）。文档：Get Markets
`/markets/{ticker}`	GET	否	通过交易代码获取单个市场。文档：Get Market
`/markets/{ticker}/orderbook`	GET	否	获取当前订单簿（YES买单 + NO买单）。文档：Get Market Orderbook
`/markets/{ticker}/candlesticks`	GET	否	K线数据（1分钟、1小时、1天）。文档：Get Market Candlesticks
`/markets/candlesticks`	POST	否	批量获取最多100个交易代码的K线数据。文档：Batch Get Market Candlesticks
`/markets/trades`	GET	否	所有公开交易。文档：Get Trades
`/series/{ticker}`	GET	否	获取系列。文档：Get Series
`/series`	GET	否	列出系列。文档：Get Series List

Events

事件

Endpoint	Method	Auth	Description
`/events`	GET	No	List events (excludes multivariate). Docs: Get Events
`/events/{ticker}`	GET	No	Get a single event. Docs: Get Event
`/events/{ticker}/metadata`	GET	No	Event metadata only. Docs: Get Event Metadata
`/events/{ticker}/candlesticks`	GET	No	Aggregated event candlesticks. Docs: Get Event Candlesticks
`/events/{ticker}/forecast/percentile_history`	GET	No	Forecast percentile history. Docs: Get Event Forecast Percentile History
`/events/multivariate`	GET	No	List multivariate events. Docs: Get Multivariate Events

端点	方法	是否需要认证	描述
`/events`	GET	否	列出事件（不含多元事件）。文档：Get Events
`/events/{ticker}`	GET	否	获取单个事件。文档：Get Event
`/events/{ticker}/metadata`	GET	否	仅获取事件元数据。文档：Get Event Metadata
`/events/{ticker}/candlesticks`	GET	否	聚合事件K线数据。文档：Get Event Candlesticks
`/events/{ticker}/forecast/percentile_history`	GET	否	预测百分位数历史数据。文档：Get Event Forecast Percentile History
`/events/multivariate`	GET	否	列出多元事件。文档：Get Multivariate Events

Orders (Authenticated)

订单（需认证）

Endpoint	Method	Auth	Description
`/portfolio/orders`	POST	Yes	Create an order. Docs: Create Order
`/portfolio/orders`	GET	Yes	List your orders (resting/canceled/executed). Docs: Get Orders
`/portfolio/orders/{order_id}`	GET	Yes	Get a single order. Docs: Get Order
`/portfolio/orders/{order_id}`	DELETE	Yes	Cancel an order. Docs: Cancel Order
`/portfolio/orders/{order_id}/amend`	POST	Yes	Amend price/count. Docs: Amend Order
`/portfolio/orders/{order_id}/decrease`	POST	Yes	Decrease contract count. Docs: Decrease Order
`/portfolio/orders/{order_id}/queue_position`	GET	Yes	Queue position. Docs: Get Order Queue Position
`/portfolio/orders/queue_positions`	GET	Yes	Queue positions for all resting orders. Docs: Get Queue Positions for Orders
`/portfolio/orders/batched`	POST	Yes	Batch create (up to 20). Docs: Batch Create Orders
`/portfolio/orders/batched`	DELETE	Yes	Batch cancel (up to 20). Docs: Batch Cancel Orders

端点	方法	是否需要认证	描述
`/portfolio/orders`	POST	是	创建订单。文档：Create Order
`/portfolio/orders`	GET	是	列出您的订单（待处理/已取消/已执行）。文档：Get Orders
`/portfolio/orders/{order_id}`	GET	是	获取单个订单。文档：Get Order
`/portfolio/orders/{order_id}`	DELETE	是	取消订单。文档：Cancel Order
`/portfolio/orders/{order_id}/amend`	POST	是	修改价格/数量。文档：Amend Order
`/portfolio/orders/{order_id}/decrease`	POST	是	减少合约数量。文档：Decrease Order
`/portfolio/orders/{order_id}/queue_position`	GET	是	队列位置。文档：Get Order Queue Position
`/portfolio/orders/queue_positions`	GET	是	所有待处理订单的队列位置。文档：Get Queue Positions for Orders
`/portfolio/orders/batched`	POST	是	批量创建（最多20笔）。文档：Batch Create Orders
`/portfolio/orders/batched`	DELETE	是	批量取消（最多20笔）。文档：Batch Cancel Orders

Portfolio (Authenticated)

投资组合（需认证）

Endpoint	Method	Auth	Description
`/portfolio/balance`	GET	Yes	Account balance (cents). Docs: Get Balance
`/portfolio/positions`	GET	Yes	Market positions. Docs: Get Positions
`/portfolio/fills`	GET	Yes	Your fills. Docs: Get Fills
`/portfolio/settlements`	GET	Yes	Settlement history. Docs: Get Settlements
`/portfolio/resting_order_value`	GET	Yes	Total resting order value (FCM). Docs: Get Total Resting Order Value

端点	方法	是否需要认证	描述
`/portfolio/balance`	GET	是	账户余额（美分）。文档：Get Balance
`/portfolio/positions`	GET	是	市场持仓。文档：Get Positions
`/portfolio/fills`	GET	是	您的成交记录。文档：Get Fills
`/portfolio/settlements`	GET	是	结算历史。文档：Get Settlements
`/portfolio/resting_order_value`	GET	是	待处理订单总价值（FCM）。文档：Get Total Resting Order Value

Subaccounts (Authenticated)

子账户（需认证）

Endpoint	Method	Auth	Description
`/portfolio/subaccounts`	POST	Yes	Create subaccount (max 32). Docs: Create Subaccount
`/portfolio/subaccounts/balances`	GET	Yes	All subaccount balances. Docs: Get All Subaccount Balances
`/portfolio/subaccounts/transfers`	GET	Yes	Subaccount transfer history. Docs: Get Subaccount Transfers
`/portfolio/subaccounts/transfer`	POST	Yes	Transfer between subaccounts. Docs: Transfer Between Subaccounts

端点	方法	是否需要认证	描述
`/portfolio/subaccounts`	POST	是	创建子账户（最多32个）。文档：Create Subaccount
`/portfolio/subaccounts/balances`	GET	是	所有子账户余额。文档：Get All Subaccount Balances
`/portfolio/subaccounts/transfers`	GET	是	子账户转账历史。文档：Get Subaccount Transfers
`/portfolio/subaccounts/transfer`	POST	是	子账户间转账。文档：Transfer Between Subaccounts

Order Groups (Authenticated)

订单组（需认证）

Order groups apply a rolling 15-second contracts limit; when hit, all orders in the group are auto-cancelled.

Endpoint	Method	Auth	Description
`/portfolio/order_groups`	POST	Yes	Create group. Docs: Create Order Group
`/portfolio/order_groups`	GET	Yes	List groups. Docs: Get Order Groups
`/portfolio/order_groups/{id}`	GET	Yes	Get group. Docs: Get Order Group
`/portfolio/order_groups/{id}`	DELETE	Yes	Delete group. Docs: Delete Order Group
`/portfolio/order_groups/{id}/reset`	POST	Yes	Reset counter. Docs: Reset Order Group
`/portfolio/order_groups/{id}/trigger`	POST	Yes	Manually trigger. Docs: Trigger Order Group
`/portfolio/order_groups/{id}/limit`	PUT	Yes	Update limit. Docs: Update Order Group Limit

订单组应用滚动15秒合约限制；达到限制时，组内所有订单将自动取消。

端点	方法	是否需要认证	描述
`/portfolio/order_groups`	POST	是	创建组。文档：Create Order Group
`/portfolio/order_groups`	GET	是	列出组。文档：Get Order Groups
`/portfolio/order_groups/{id}`	GET	是	获取组。文档：Get Order Group
`/portfolio/order_groups/{id}`	DELETE	是	删除组。文档：Delete Order Group
`/portfolio/order_groups/{id}/reset`	POST	是	重置计数器。文档：Reset Order Group
`/portfolio/order_groups/{id}/trigger`	POST	是	手动触发。文档：Trigger Order Group
`/portfolio/order_groups/{id}/limit`	PUT	是	更新限制。文档：Update Order Group Limit

Communications / RFQ (Authenticated)

通信 / RFQ（需认证）

Endpoint	Method	Auth	Description
`/communications/id`	GET	Yes	Get your comms ID. Docs: Get Communications ID
`/rfqs`	POST	Yes	Create RFQ (max 100 open). Docs: Create RFQ
`/rfqs`	GET	Yes	List RFQs. Docs: Get RFQs
`/rfqs/{id}`	GET	Yes	Get RFQ. Docs: Get RFQ
`/rfqs/{id}`	DELETE	Yes	Delete RFQ. Docs: Delete RFQ
`/quotes`	POST	Yes	Create quote. Docs: Create Quote
`/quotes`	GET	Yes	List quotes. Docs: Get Quotes
`/quotes/{id}`	GET	Yes	Get quote. Docs: Get Quote
`/quotes/{id}`	DELETE	Yes	Delete quote. Docs: Delete Quote
`/quotes/{id}/accept`	POST	Yes	Accept quote. Docs: Accept Quote
`/quotes/{id}/confirm`	POST	Yes	Confirm quote. Docs: Confirm Quote

端点	方法	是否需要认证	描述
`/communications/id`	GET	是	获取您的通信ID。文档：Get Communications ID
`/rfqs`	POST	是	创建RFQ（最多100个未处理）。文档：Create RFQ
`/rfqs`	GET	是	列出RFQ。文档：Get RFQs
`/rfqs/{id}`	GET	是	获取单个RFQ。文档：Get RFQ
`/rfqs/{id}`	DELETE	是	删除RFQ。文档：Delete RFQ
`/quotes`	POST	是	创建报价。文档：Create Quote
`/quotes`	GET	是	列出报价。文档：Get Quotes
`/quotes/{id}`	GET	是	获取单个报价。文档：Get Quote
`/quotes/{id}`	DELETE	是	删除报价。文档：Delete Quote
`/quotes/{id}/accept`	POST	是	接受报价。文档：Accept Quote
`/quotes/{id}/confirm`	POST	是	确认报价。文档：Confirm Quote

Historical Data (Authenticated)

历史数据（需认证）

Historical data is for archived markets, orders, and fills that have moved past cutoff timestamps.

Endpoint	Method	Auth	Description
`/historical/cutoff_timestamps`	GET	Yes	Cutoff boundaries. Docs: Get Historical Cutoff Timestamps
`/historical/markets`	GET	Yes	Archived markets. Docs: Get Historical Markets
`/historical/markets/{ticker}`	GET	Yes	Single archived market. Docs: Get Historical Market
`/historical/markets/{ticker}/candlesticks`	GET	Yes	Archived candlesticks. Docs: Get Historical Market Candlesticks
`/historical/fills`	GET	Yes	Archived fills. Docs: Get Historical Fills
`/historical/orders`	GET	Yes	Archived orders. Docs: Get Historical Orders

Historical data guide: https://docs.kalshi.com/getting_started/historical_data.md

历史数据适用于已超过截止时间的归档市场、订单和成交记录。

端点	方法	是否需要认证	描述
`/historical/cutoff_timestamps`	GET	是	截止时间边界。文档：Get Historical Cutoff Timestamps
`/historical/markets`	GET	是	归档市场。文档：Get Historical Markets
`/historical/markets/{ticker}`	GET	是	单个归档市场。文档：Get Historical Market
`/historical/markets/{ticker}/candlesticks`	GET	是	归档K线数据。文档：Get Historical Market Candlesticks
`/historical/fills`	GET	是	归档成交记录。文档：Get Historical Fills
`/historical/orders`	GET	是	归档订单。文档：Get Historical Orders

历史数据指南：https://docs.kalshi.com/getting_started/historical_data.md

Multivariate Collections

多元事件集合

Endpoint	Method	Auth	Description
`/multivariate/collections`	GET	No	List collections. Docs: Get Multivariate Event Collections
`/multivariate/collections/{ticker}`	GET	No	Get collection. Docs: Get Multivariate Event Collection
`/multivariate/collections/{ticker}/markets`	POST	Yes	Create market in collection. Docs: Create Market In Multivariate Event Collection
`/multivariate/collections/{ticker}/lookup`	GET	No	Lookup tickers. Docs: Lookup Tickers For Market In Multivariate Event Collection
`/multivariate/collections/{ticker}/lookup_history`	GET	No	Recent lookups. Docs: Get Multivariate Event Collection Lookup History

端点	方法	是否需要认证	描述
`/multivariate/collections`	GET	否	列出集合。文档：Get Multivariate Event Collections
`/multivariate/collections/{ticker}`	GET	否	获取集合。文档：Get Multivariate Event Collection
`/multivariate/collections/{ticker}/markets`	POST	是	在集合中创建市场。文档：Create Market In Multivariate Event Collection
`/multivariate/collections/{ticker}/lookup`	GET	否	查询交易代码。文档：Lookup Tickers For Market In Multivariate Event Collection
`/multivariate/collections/{ticker}/lookup_history`	GET	否	近期查询记录。文档：Get Multivariate Event Collection Lookup History

Milestones & Structured Targets

里程碑与结构化目标

Endpoint	Method	Auth	Description
`/milestones`	GET	No	List milestones. Docs: Get Milestones
`/milestones/{id}`	GET	No	Get milestone. Docs: Get Milestone
`/structured_targets`	GET	No	List structured targets. Docs: Get Structured Targets
`/structured_targets/{id}`	GET	No	Get structured target. Docs: Get Structured Target

端点	方法	是否需要认证	描述
`/milestones`	GET	否	列出里程碑。文档：Get Milestones
`/milestones/{id}`	GET	否	获取单个里程碑。文档：Get Milestone
`/structured_targets`	GET	否	列出结构化目标。文档：Get Structured Targets
`/structured_targets/{id}`	GET	否	获取单个结构化目标。文档：Get Structured Target

Live Data

实时数据

Endpoint	Method	Auth	Description
`/live_data/{milestone_id}`	GET	No	Live data for milestone. Docs: Get Live Data
`/live_data`	GET	No	Multiple milestones. Docs: Get Multiple Live Data

端点	方法	是否需要认证	描述
`/live_data/{milestone_id}`	GET	否	里程碑的实时数据。文档：Get Live Data
`/live_data`	GET	否	多个里程碑的实时数据。文档：Get Multiple Live Data

Search & Discovery

搜索与发现

Endpoint	Method	Auth	Description
`/search/sports/filters`	GET	No	Sport filters. Docs: Get Filters for Sports
`/search/tags`	GET	No	Tags by category. Docs: Get Tags for Series Categories

端点	方法	是否需要认证	描述
`/search/sports/filters`	GET	否	体育类筛选条件。文档：Get Filters for Sports
`/search/tags`	GET	否	按分类列出标签。文档：Get Tags for Series Categories

Exchange & Account

交易所与账户

Endpoint	Method	Auth	Description
`/exchange/status`	GET	No	Exchange status. Docs: Get Exchange Status
`/exchange/schedule`	GET	No	Exchange schedule. Docs: Get Exchange Schedule
`/exchange/announcements`	GET	No	Announcements. Docs: Get Exchange Announcements
`/exchange/data_timestamp`	GET	Yes	Data freshness timestamp. Docs: Get User Data Timestamp
`/exchange/series_fee_changes`	GET	No	Fee changes. Docs: Get Series Fee Changes
`/account/api_limits`	GET	Yes	Your rate limit tier. Docs: Get Account API Limits
`/account/api_keys`	GET	Yes	List API keys. Docs: Get API Keys
`/account/api_keys`	POST	Yes	Create API key. Docs: Create API Key
`/account/api_keys/generate`	POST	Yes	Generate key pair. Docs: Get API Keys
`/account/api_keys/{id}`	DELETE	Yes	Delete API key. Docs: Delete API Key

端点	方法	是否需要认证	描述
`/exchange/status`	GET	否	交易所状态。文档：Get Exchange Status
`/exchange/schedule`	GET	否	交易所日程。文档：Get Exchange Schedule
`/exchange/announcements`	GET	否	公告。文档：Get Exchange Announcements
`/exchange/data_timestamp`	GET	是	数据新鲜度时间戳。文档：Get User Data Timestamp
`/exchange/series_fee_changes`	GET	否	系列费用变更。文档：Get Series Fee Changes
`/account/api_limits`	GET	是	您的速率限制等级。文档：Get Account API Limits
`/account/api_keys`	GET	是	列出API密钥。文档：Get API Keys
`/account/api_keys`	POST	是	创建API密钥。文档：Create API Key
`/account/api_keys/generate`	POST	是	生成密钥对。文档：Generate API Key
`/account/api_keys/{id}`	DELETE	是	删除API密钥。文档：Delete API Key

Incentive Programs

激励计划

Endpoint	Method	Auth	Description
`/incentives`	GET	No	List incentives. Docs: Get Incentives

端点	方法	是否需要认证	描述
`/incentives`	GET	否	列出激励计划。文档：Get Incentives

WebSocket API

A single authenticated WebSocket connection provides real-time streaming. Subscribe to channels by sending JSON commands.

单个已认证的WebSocket连接可提供实时流传输。通过发送JSON命令订阅通道。

Connection

连接

wss://api.elections.kalshi.com/trade-api/ws/v2      (production)
wss://demo-api.kalshi.co/trade-api/ws/v2            (demo)

Authentication headers (

KALSHI-ACCESS-KEY

KALSHI-ACCESS-SIGNATURE

KALSHI-ACCESS-TIMESTAMP

) must be included during the handshake. Sign the string

{timestamp}GET/trade-api/ws/v2

wss://api.elections.kalshi.com/trade-api/ws/v2      (生产环境)
wss://demo-api.kalshi.co/trade-api/ws/v2            (演示环境)

握手时必须包含认证请求头（

KALSHI-ACCESS-KEY

、

KALSHI-ACCESS-SIGNATURE

、

KALSHI-ACCESS-TIMESTAMP

）。对字符串

{timestamp}GET/trade-api/ws/v2

进行签名。

Available Channels

可用通道

Channel	Auth Required	Description	Docs
`ticker`	No*	Market price/volume/OI updates	Market Ticker
`trade`	No*	Public trade notifications	Public Trades
`market_lifecycle_v2`	No*	Market/event state changes	Market & Event Lifecycle
`multivariate`	No*	Multivariate lookup notifications	Multivariate Lookups
`orderbook_delta`	Yes	Real-time orderbook updates	Orderbook Updates
`fill`	Yes	Your fill notifications	User Fills
`order`	Yes	Your order updates	User Orders
`market_positions`	Yes	Your position updates	Market Positions
`communications`	Yes	RFQ/quote notifications	Communications
`order_group_updates`	Yes	Order group lifecycle	Order Group Updates

*The connection itself always requires authentication, even for public channels.

通道	是否需要认证	描述	文档
`ticker`	否*	市场价格/成交量/持仓量更新	Market Ticker
`trade`	否*	公开交易通知	Public Trades
`market_lifecycle_v2`	否*	市场/事件状态变更	Market & Event Lifecycle
`multivariate`	否*	多元事件查询通知	Multivariate Lookups
`orderbook_delta`	是	实时订单簿更新	Orderbook Updates
`fill`	是	您的成交通知	User Fills
`order`	是	您的订单更新	User Orders
`market_positions`	是	您的持仓更新	Market Positions
`communications`	是	RFQ/报价通知	Communications
`order_group_updates`	是	订单组生命周期更新	Order Group Updates

*即使是公开通道，连接本身也始终需要认证。

Subscribe Command

订阅命令

json

{
  "id": 1,
  "cmd": "subscribe",
  "params": {
    "channels": ["ticker", "orderbook_delta"],
    "market_tickers": ["KXHIGHNY-24JAN01-T60"]
  }
}

json

{
  "id": 1,
  "cmd": "subscribe",
  "params": {
    "channels": ["ticker", "orderbook_delta"],
    "market_tickers": ["KXHIGHNY-24JAN01-T60"]
  }
}

Keep-Alive

保活机制

Kalshi sends Ping frames every 10 seconds with body

heartbeat

. Clients must respond with Pong frames. Docs: Connection Keep-Alive

Full WebSocket guide: https://docs.kalshi.com/getting_started/quick_start_websockets.md

Kalshi每10秒发送一次Ping帧，内容为

heartbeat

。客户端必须回复Pong帧。文档：Connection Keep-Alive

完整WebSocket指南：https://docs.kalshi.com/getting_started/quick_start_websockets.md

Orderbook Structure

订单簿结构

Kalshi orderbooks return bids only (no asks). In binary markets:

A YES bid at X¢ = a NO ask at (100−X)¢
A NO bid at Y¢ = a YES ask at (100−Y)¢

Each entry is

[price, quantity]

sorted ascending. The best bid is the last element.

Spread calculation:

Best YES ask =
```
100 - best_no_bid
```
Spread = Best YES ask − Best YES bid

Full guide: https://docs.kalshi.com/getting_started/orderbook_responses.md

Kalshi订单簿仅返回买单（无卖单）。在二元市场中：

X美分的YES买单等价于(100−X)美分的NO卖单
Y美分的NO买单等价于(100−Y)美分的YES卖单

每个条目为

[price, quantity]

，按升序排列。最优买单是最后一个元素。

点差计算：

最优YES卖单价格 =
```
100 - 最优NO买单价格
```
点差 = 最优YES卖单价格 − 最优YES买单价格

完整指南：https://docs.kalshi.com/getting_started/orderbook_responses.md

FIX Protocol

FIX协议

Kalshi also supports the Financial Information eXchange (FIX) protocol for low-latency trading:

Topic	Docs
Overview	https://docs.kalshi.com/fix/index.md
Connectivity	https://docs.kalshi.com/fix/connectivity.md
Session Management	https://docs.kalshi.com/fix/session-management.md
Order Entry	https://docs.kalshi.com/fix/order-entry.md
Order Groups	https://docs.kalshi.com/fix/order-groups.md
Drop Copy	https://docs.kalshi.com/fix/drop-copy.md
Market Settlement	https://docs.kalshi.com/fix/market-settlement.md
RFQ Messages	https://docs.kalshi.com/fix/rfq-messages.md
Error Handling	https://docs.kalshi.com/fix/error-handling.md
Subpenny Pricing	https://docs.kalshi.com/fix/subpenny-pricing.md

Kalshi还支持金融信息交换（FIX）协议，用于低延迟交易：

主题	文档
概览	https://docs.kalshi.com/fix/index.md
连接性	https://docs.kalshi.com/fix/connectivity.md
会话管理	https://docs.kalshi.com/fix/session-management.md
订单录入	https://docs.kalshi.com/fix/order-entry.md
订单组	https://docs.kalshi.com/fix/order-groups.md
复制下单	https://docs.kalshi.com/fix/drop-copy.md
市场结算	https://docs.kalshi.com/fix/market-settlement.md
RFQ消息	https://docs.kalshi.com/fix/rfq-messages.md
错误处理	https://docs.kalshi.com/fix/error-handling.md
亚分定价	https://docs.kalshi.com/fix/subpenny-pricing.md

Common Patterns

常见模式

Fetch All Open Markets for a Series

获取某系列的所有开放市场

bash

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets?series_ticker=KXHIGHNY&status=open" | jq '.markets[] | {ticker, title, yes_price, volume}'

bash

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets?series_ticker=KXHIGHNY&status=open" | jq '.markets[] | {ticker, title, yes_price, volume}'

Get Orderbook for a Market

获取某市场的订单簿

bash

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets/KXHIGHNY-24JAN01-T60/orderbook" | jq '.orderbook'

bash

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets/KXHIGHNY-24JAN01-T60/orderbook" | jq '.orderbook'

Paginate Through All Results

遍历所有结果（分页）

bash

undefined

bash

undefined

First page

第一页

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets?limit=100" > page1.json

Extract cursor for next page

提取下一页的游标

CURSOR=$(jq -r '.cursor' page1.json)

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets?limit=100&cursor=$CURSOR" > page2.json

---

curl -s "https://api.elections.kalshi.com/trade-api/v2/markets?limit=100&cursor=$CURSOR" > page2.json

---

Usage Tips

使用技巧

Always check
llms.txt
first: https://docs.kalshi.com/llms.txt has every endpoint and guide.
Use the demo environment for testing — credentials are separate from production.
Never hardcode API keys — use environment variables or secure key storage.
Prices are in cents (1–99). Monetary values in WebSocket position channels are in centi-cents (divide by 10,000 for dollars).
Sign paths without query parameters. Strip everything after
```
?
```
before signing.
Handle pagination — always check for a non-null
```
cursor
```
and loop until exhausted.
Respect rate limits — implement exponential backoff on 429 responses.
Combine REST + WebSocket for the most accurate state: use REST for initial snapshots and WebSocket for real-time deltas.
Orderbook is bids-only — derive asks via the 100−price complement.
Historical vs. Live data: Check cutoff timestamps to know whether to query live or historical endpoints.
For market status values, use:
```
unopened
```
,
```
open
```
,
```
closed
```
,
```
settled
```
.
Batch operations count against per-second write limits per item.

首先查阅
llms.txt
： https://docs.kalshi.com/llms.txt包含所有端点和指南。
使用演示环境进行测试——演示环境的凭证与生产环境分离。
切勿硬编码API密钥——使用环境变量或安全密钥存储。
价格以美分计价（1-99）。WebSocket持仓通道中的货币价值以厘分计价（除以10000转换为美元）。
对不含查询参数的路径进行签名。签名前，删除
```
?
```
后的所有内容。
处理分页——始终检查非空
```
cursor
```
，并循环直到没有更多页面。
遵守速率限制——在收到429响应时实现指数退避。
结合REST + WebSocket以获取最准确的状态：使用REST获取初始快照，使用WebSocket获取实时增量更新。
订单簿仅含买单——通过100−价格的补数推导卖单。
历史数据与实时数据： 检查截止时间戳以确定应查询实时端点还是历史端点。
市场状态值包括：
```
unopened
```
、
```
open
```
、
```
closed
```
、
```
settled
```
。
批量操作按每个条目计入每秒写入限制。

Error Handling

错误处理

Standard HTTP error codes apply. The API returns JSON error bodies with descriptive messages. Implement retry with backoff for 429 (rate limited) and 5xx (server errors).

适用标准HTTP错误码。API返回带描述性消息的JSON错误体。对429（速率限制）和5xx（服务器错误）响应实现重试与退避机制。

WebSocket Error Codes

WebSocket错误码

Code	Meaning
1	Unable to process message
2	Params required
3	Channels required
5	Unknown command
8	Unknown channel name
9	Authentication required
14	Market ticker required
16	Market not found
17	Internal error
18	Command timeout

Full error code table: https://docs.kalshi.com/getting_started/quick_start_websockets.md

代码	含义
1	无法处理消息
2	需要参数
3	需要通道
5	未知命令
8	未知通道名称
9	需要认证
14	需要市场交易代码
16	市场未找到
17	内部错误
18	命令超时

完整错误码表：https://docs.kalshi.com/getting_started/quick_start_websockets.md

Example Project: Alph Bot

示例项目：Alph Bot

Alph Bot is an open-source automated trading bot that demonstrates a production-quality integration of the Kalshi API alongside Shipp for real-time sports data and Claude AI for probability estimation.

Alph Bot是一个开源自动化交易机器人，展示了如何将Kalshi API与Shipp实时体育数据以及Claude AI概率估算进行生产级集成。

How Alph Bot Uses Kalshi

Alph Bot如何使用Kalshi

Market discovery — Searches for Kalshi event contracts related to a live sports game (e.g., NBA point spreads, totals).
Orderbook reading — Fetches orderbook data to determine current market-implied probabilities (prices in cents map directly to implied %).
Edge detection — Compares Kalshi market prices against AI-estimated probabilities powered by Claude + Shipp real-time game data.
Order execution — Places limit orders when sufficient edge is found, using Kelly Criterion for position sizing.
Risk management — Enforces circuit breakers (max daily loss), position size limits, single-market exposure caps, and minimum account balance thresholds.

市场发现——搜索与实时体育赛事相关的Kalshi事件合约（例如NBA让分盘、总分盘）。
订单簿读取——获取订单簿数据以确定当前市场隐含概率（美分价格直接对应隐含百分比）。
机会识别——将Kalshi市场价格与Claude + Shipp实时赛事数据驱动的AI估算概率进行比较。
订单执行——当发现足够的套利空间时，使用凯利准则（Kelly Criterion）确定持仓规模并下达限价订单。
风险管理——实施熔断机制（每日最大亏损）、持仓规模限制、单一市场暴露上限以及最低账户余额阈值。

Alph Bot's Kalshi Configuration

Alph Bot的Kalshi配置

From its

.env.example

ALPH_BOT_KALSHI_API_KEY_ID=abc123
ALPH_BOT_KALSHI_PRIVATE_KEY_PATH=./keys/kalshi-private.pem

来自其

.env.example

：

ALPH_BOT_KALSHI_API_KEY_ID=abc123
ALPH_BOT_KALSHI_PRIVATE_KEY_PATH=./keys/kalshi-private.pem

Strategy

策略

ALPH_BOT_MIN_EDGE_PCT=5 ALPH_BOT_MIN_CONFIDENCE=medium ALPH_BOT_KELLY_FRACTION=0.25

Risk controls

风险控制

ALPH_BOT_MAX_TOTAL_EXPOSURE_USD=10000 ALPH_BOT_MAX_POSITION_SIZE_USD=1000 ALPH_BOT_MAX_SINGLE_MARKET_PERCENT=20 ALPH_BOT_MAX_DAILY_LOSS_USD=500 ALPH_BOT_MAX_DAILY_TRADES=50 ALPH_BOT_MIN_ACCOUNT_BALANCE_USD=100

undefined

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Try It

尝试使用

bash

git clone https://gitlab.com/outsharp/shipp/alph-bot.git
cd alph-bot
cp .env.example .env

bash

git clone https://gitlab.com/outsharp/shipp/alph-bot.git
cd alph-bot
cp .env.example .env

Add your Kalshi, Shipp, and Anthropic API keys

添加您的Kalshi、Shipp和Anthropic API密钥

yarn migrate

Find a game to trade on

查找可交易的赛事

./index.ts available-games --sport NBA

Run value betting in demo mode (uses Kalshi demo environment)

以演示模式运行价值投注（使用Kalshi演示环境）

./index.ts value-bet -d --game <GAME_ID>

Run in paper mode (no real orders executed)

以模拟模式运行（不执行真实订单）

./index.ts value-bet --paper --game <GAME_ID>


> **Warning:** Trading on Kalshi involves real money when not in demo/paper mode. Always start with a [demo account](https://help.kalshi.com/account/demo-account).

See the [Alph Bot README](https://gitlab.com/outsharp/shipp/alph-bot) for full setup instructions.

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./index.ts value-bet --paper --game <GAME_ID>


> **警告：** 非演示/模拟模式下，在Kalshi进行交易涉及真实资金。请始终从[演示账户](https://help.kalshi.com/account/demo-account)开始。

查看[Alph Bot README](https://gitlab.com/outsharp/shipp/alph-bot)获取完整设置说明。

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Versioning

版本控制

The current API version is v2 under

/trade-api/v2

. Monitor the API Changelog for updates. SDK versions align with the OpenAPI spec and are generally published weekly.

当前API版本为v2，路径为

/trade-api/v2

。请关注API更新日志以获取更新信息。SDK版本与OpenAPI规范保持一致，通常每周发布一次。