Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h −0.003%

Price spread now: Kraken Futures against BloFin+0.005%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now +0.005%, 7d avg +0.018%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.856	0.0220	pay 0.0220% / 8h	1h 34m	$5.2M	$15.8M	75x
Short	Kraken Futures PF_LINKUSD	12.857	0.0194	get 0.0024% / 1h	34m 59s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$5.52
Price spread: +0.005% → +0.018%: −$1.28
Slippage, 4 orders: −$19.86
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$48.66
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from BloFin: 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 BloFin live order book, 4 min ago	1.17 bp	9.1 bp −$9	12.0 bp −$120	25.5 bp −$2,554	doesn't fit
Sell Kraken Futures live order book, 4 min ago	3.88 bp	11.2 bp −$11	13.6 bp −$136	34.3 bp −$3,428	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 −0.0089% / S +0.0166%	1h	12.853	−0.025%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0004%	8h	12.846	−0.078%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.859	+0.022%	$512K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.854	−0.016%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.547%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.874	+0.141%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.854	−0.019%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.852	−0.033%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.854	−0.016%	$349K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.857	+0.005%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.856	−0.003%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.854	−0.018%	$118.6M	$301.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.849	−0.054%	$83.1M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.851	−0.039%	$26.9M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.872	+0.124%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.849	−0.054%	$123.8M	$15.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.851	−0.039%	$34.4M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.857	+0.008%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.850	−0.047%	$53.8M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.851	−0.039%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.849	−0.052%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.870	+0.110%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.866	+0.078%	$581K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.873	+0.132%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.858	+0.016%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.031%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.868	+0.090%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.854	−0.016%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.848	−0.060%	$631K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.846	−0.078%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.857	+0.008%	$539K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0111%	1h	12.861	+0.039%	$335K	$388K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.865	+0.070%	$932K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0194%	1h	12.857	+0.005%	$6.6M	$8.3M	50x
BloFin LINK-USDTlong	+0.0220%	8h	12.856	long leg	$5.2M	$15.8M	75x
Hyperliquid LINK	+0.0335%	1h	12.869	+0.101%	$80.2M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.851	−0.038%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0435%	1h	12.860	+0.030%	$804K	$265K	50x	as long as short
Phemex LINKUSDT	+0.0585%	8h	12.873	+0.132%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0917%	1h	12.851	−0.040%	$342K	$33K	10x	as long as short