Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0404%/8h= +44.3% APRpaid last 24h −0.008%

Price spread now: Kraken Futures against Bitget+0.128%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now +0.128%, 7d avg +0.036%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.092% dearer against Bitget than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.036%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% 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	Bitget LINKUSDT	13.128	0.0100	pay 0.0100% / 8h	2h 55m	$54.3M	$29.9M	75x
Short	Kraken Futures PF_LINKUSD	13.145	0.0504	get 0.0063% / 1h	55m 17s	$7.0M	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.128%Rate

Funding earned: $84.88
Price spread: +0.128% → +0.036%: $9.18
Slippage, 4 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $54.07
Costs to cover: 0.400%
Break-even: 2.5 days

Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago	0.38 bp	8.0 bp −$8	15.4 bp −$154	27.4 bp −$2,744	doesn't fit
Sell Kraken Futures live order book, 4 min ago	1.14 bp	11.6 bp −$12	16.2 bp −$162	32.3 bp −$3,229	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 −0.0091% / S +0.0166%	1h	13.133	+0.035%	$1.7M	—	200x	as long as short
Phoenix LINK	−0.0012%	1h	13.127	−0.004%	$3K	$84K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.103	−0.188%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.125	−0.026%	$457K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.133	+0.034%	$83K	—	150x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	−0.141%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.545%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0039%	1h	13.141	+0.101%	$700K	$106K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	13.131	+0.023%	$135K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.140	+0.094%	$2.1M	$2.3M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.107	−0.158%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.123	−0.034%	$397K	$313K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.126	−0.014%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.110	−0.140%	$275K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.135	+0.053%	$121.4M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.131	+0.023%	$85.0M	$68.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.133	+0.038%	$27.8M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.125	−0.023%	$184K	$169K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.122	−0.046%	$130.9M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.134	+0.046%	$35.4M	$55.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.135	+0.053%	$21.9M	$15.9M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	13.128	long leg	$54.3M	$29.9M	75x
BingX LINK-USDC	+0.0100%	8h	13.129	+0.008%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.145	+0.129%	$364K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.105	−0.172%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.113	−0.113%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	−0.145%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.129	+0.008%	$80K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.134	+0.045%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.148	+0.154%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.136	+0.061%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.104	−0.186%	$641K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.133	+0.034%	$668K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.141	+0.100%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.100	−0.213%	$990K	$2.7M	50x	as long as short
Hyperliquid LINK	+0.0115%	1h	13.140	+0.091%	$78.3M	$23.4M	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.132	+0.030%	$5.3M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.128	−0.001%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0496%	8h	13.152	+0.183%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0504%	1h	13.145	+0.128%	$7.0M	$7.7M	50x