Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0595%/8h= +65.2% APRpaid last 24h −0.003%

Price spread now: Kraken Futures against Aster−0.032%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 3 days (all we have)+0.095%+$9 · spread now −0.032%, 7d avg −0.021%

Together, before fees+0.050%+ Points / potential airdropAster: Stage 5 · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.045% in total (about -2.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	13.151	0.0100	pay 0.0100% / 8h	1h 50m	$1.5M	$2.8M	50x
Short	Kraken Futures PF_LINKUSD	13.147	0.0695	get 0.0087% / 1h	50m 27s	$6.9M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee Kraken FuturesbpOrdersPrice spread, now −0.032%Rate

Funding earned: $125.02
Price spread: −0.032% → −0.021%: −$1.16
Slippage, 4 orders: −$24.9
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $80.96
Costs to cover: 0.429%
Break-even: 2.5 days

Slippage from Aster: live order book, 3 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster live order book, 3 min ago	1.90 bp	10.4 bp −$10	21.4 bp −$214	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	3.42 bp	12.2 bp −$12	18.0 bp −$180	45.8 bp −$4,577	doesn't fit

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.144	−0.057%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.147	−0.033%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.146	−0.043%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.145	−0.048%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.145	−0.048%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.713%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.174	+0.174%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.143	−0.063%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.151	0.000%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.146	−0.037%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.145	−0.052%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.144	−0.055%	$77.6M	$23.8M	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	13.151	long leg	$1.5M	$2.8M	50x
Pacifica LINK	+0.0100%	1h	13.148	−0.023%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.143	−0.064%	$121.8M	$302.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.138	−0.101%	$84.6M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.136	−0.116%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.156	+0.036%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.146	−0.040%	$130.5M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.146	−0.040%	$36.6M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.151	−0.002%	$22.3M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.141	−0.078%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.146	−0.040%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.148	−0.022%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.153	+0.016%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.173	+0.165%	$590K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.160	+0.066%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.138	−0.101%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.140	−0.087%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.151	−0.004%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.136	−0.116%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.130	−0.163%	$645K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.141	−0.079%	$675K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.145	−0.052%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.149	−0.017%	$991K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0134%	1h	13.147	−0.033%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.139	−0.093%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.133	−0.141%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0478%	8h	13.152	+0.005%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0695%	1h	13.147	−0.032%	$6.9M	$8.0M	50x