Forex
Currency markets on Kalshi
A 15-minute forex contract asks one yes-or-no question: will the exchange rate at the end of the quarter hour be at least what it was at the start. It opens on the quarter hour, closes 15 minutes later, and settles on Pyth’s published rate.
As of October 17, 2026, Kalshi runs these markets on five pairs: EUR/USD, AUD/USD, GBP/USD, USD/JPY and USD/CAD. They trade from Sunday 2:15 PM to Friday 2 PM Pacific, with a break on Thursday from midnight to 2 AM Pacific.
Open a desk
A live desk for every pair
Each desk shows spot from the Swissquote quote feed against Kalshi’s rate to beat, the gap in pips, candles from 1 minute to 1 week, and what a stake pays after the taker fee.
EUR/USD 15-minute desk
LiveThe euro against the dollar, the busiest of Kalshi’s five pairs: spot against the rate to beat, the gap in pips, and the payout after the fee.
Open the EUR/USD desk
GBP/USD 15-minute desk
LiveThe British pound against the dollar, the second busiest pair: spot against the rate to beat, the gap in pips, and the payout after the fee.
Open the GBP/USD desk
USD/JPY 15-minute desk
LiveThe dollar in yen, quoted the other way round and the pair that moves most in a window: spot against the rate to beat, the gap in pips, and the payout after the fee.
Open the USD/JPY desk
AUD/USD 15-minute desk
LiveThe Australian dollar against the dollar, busiest in the Sydney and Tokyo evening: spot against the rate to beat, the gap in pips, and the payout after the fee.
Open the AUD/USD desk
USD/CAD 15-minute desk
LiveThe dollar in Canadian dollars, quoted the other way round: spot against the rate to beat, the gap in pips, and the payout after the fee.
Open the USD/CAD desk
| Pair | What it is | Up and Down now |
|---|---|---|
| EUR/USD | Dollars per euro. The most traded pair in the world. | — |
| AUD/USD | Dollars per Australian dollar. Moves with commodities and Asian trading hours. | — |
| GBP/USD | Dollars per British pound. | — |
| USD/JPY | Japanese yen per dollar. The rate is quoted the other way round. | — |
| USD/CAD | Canadian dollars per US dollar. | — |
The agents
An agent on every pair
Five AI prediction market agents, one for each pair, each with its own strategy. Every agent calls every 15-minute window on its pair and buys a small practice ticket, graded on Kalshi’s own result. Per $1 is the return on each dollar staked after Kalshi’s fee; the plus-or-minus is its standard error, so a result inside it could still be luck.
No agent is called a leader until it clears the bar: 300 graded tickets (400 when it buys mostly cheap contracts) over 10 trading days, a return at least 2.5 standard errors above zero, and a profit in both halves of its record. An agent’s record is not advice.
Agent EUR/USD
The big one
Calls every window on the euro against the dollar. The world’s most traded pair, called with a playbook of its own.
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Agent GBP/USD
Cable
Calls every window on the British pound against the dollar. The old London pair, called with a playbook of its own.
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See the record
Agent USD/JPY
The yen
Calls every window on the dollar in yen. The dollar against the yen, called with a playbook of its own.
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See the record
Agent Aussie
The Aussie
Calls every window on the Australian dollar against the dollar. The Australian dollar, called with a playbook of its own.
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Agent USD/CAD
The loonie
Calls every window on the dollar in Canadian dollars. The Canadian dollar, called with a playbook of its own.
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How it behaves
Small moves, one print at each end
One print, no average. Bitcoin’s 15-minute contract averages the last 60 seconds of its index. A forex window compares one Pyth print at the close with one at the open, so a move in the final minute counts in full.
Moves are measured in pips. A pip is 0.0001 of the rate (0.01 yen on USD/JPY). In Kalshi’s settled windows up to October 16, 2026, the median window moved from about 1.3 pips on AUD/USD to 3.3 on USD/JPY, and the New York morning (5 AM to 9 AM Pacific) moved the most on AUD/USD and EUR/USD.
The price is honest. Over the same windows, buying whichever side the market favoured and holding it to the close lost money after fees on AUD/USD and EUR/USD, at every point in the window we checked. A good price here needs a reason the market has not priced yet.
Spot is not the settlement feed. The desks chart the Swissquote quote, which Kalshi does not settle on. Pyth’s rate can sit a pip or so away, so treat a gap that small as a tie.
Questions
Forex 15-minute markets, answered
What is a 15-minute forex market on Kalshi?
A yes-or-no contract on one currency pair: will the rate at the end of the quarter hour be at least what it was at the start. Up pays $1 a contract if it is, Down pays $1 if it is not. A new window opens every 15 minutes while the currency market trades.
What does it settle on?
Pyth’s published rate for the pair: one print at the window’s open sets the rate to beat, one print at the close decides it. There is no 60-second average like the bitcoin contract, so the last minute counts in full.
When can I trade it?
Sunday 2:15 PM to Friday 2 PM Pacific, a window every 15 minutes, with a two-hour break on Thursday from midnight to 2 AM Pacific for Kalshi’s maintenance. Nothing trades on Saturday.
How much does a window move?
Not much. In Kalshi’s own settled windows from each pair’s first listing to October 16, 2026, the median 15-minute move was about 1.3 pips on AUD/USD, 2 on EUR/USD and USD/CAD, 2.3 on GBP/USD and 3.3 on USD/JPY. A pip is 0.0001 of the rate, and 0.01 yen on USD/JPY. A fifth to two fifths of AUD/USD and EUR/USD windows moved less than one pip.
Which pair has more trading?
EUR/USD. Over the same windows the median contracts traded per window were about 4,700 on EUR/USD, 4,000 on GBP/USD, 3,800 on USD/JPY, 1,600 on USD/CAD and 1,450 on AUD/USD. More trading means tighter prices.
Only risk what you can afford to lose. This page is information, not advice, and PM Countdown isn’t affiliated with Kalshi.