LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0151%/8h= +16.5% APRnext payment +$0.19 per $10,000 · paid last 24h +0.034%

Price spread now: Kraken Futures against Coinbase International−0.055%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.055%, 7d avg −0.005%

Together, before fees+0.179%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.050% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of −0.005%). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.079% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	12.857	0.0128	pay 0.0016% / 1h	22m 39s	$915K	$2.8M	50x
Short	Kraken Futures PF_LINKUSD	12.850	0.0279	get 0.0035% / 1h	22m 39s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. 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 Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now −0.055%Rate

Funding earned: $31.64
Price spread: −0.055% → −0.005%: −$5
Slippage, 4 orders: −$23.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$16.65
Costs to cover: 0.433%
Break-even: 10.7 days

Slippage from Coinbase International: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Coinbase International live order book, 1 min ago	1.95 bp	9.9 bp −$10	14.4 bp −$144	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	3.50 bp	11.2 bp −$11	13.9 bp −$139	45.2 bp −$4,522	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	12.843	−0.109%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.855	−0.016%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.846	−0.086%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.554%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	12.839	−0.140%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.826	−0.243%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.864	+0.056%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.864	+0.052%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.838	−0.148%	$344K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.874	+0.132%	$1.2M	$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	12.867	+0.076%	$274K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.874	+0.132%	$118.3M	$302.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.873	+0.124%	$83.1M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.878	+0.163%	$27.3M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.886	+0.226%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.862	+0.039%	$124.1M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.871	+0.109%	$32.8M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.873	+0.124%	$22.7M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.867	+0.078%	$53.8M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.870	+0.101%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.861	+0.031%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.814	−0.331%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.810	−0.366%	$42K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.833	−0.185%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.810	−0.366%	$131K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.849	−0.062%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.844	−0.098%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.859	+0.015%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.850	−0.054%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.828	−0.226%	$630K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.868	+0.088%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.850	−0.057%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0128%	1h	12.857	long leg	$915K	$2.8M	50x
Deribit LINK_USDC-PERPETUAL	+0.0201%	1h	12.854	−0.023%	$793K	$244K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.854	−0.023%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0226%	1h	12.875	+0.140%	$80.1M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0279%	1h	12.850	−0.055%	$6.6M	$8.3M	50x
Reya LINKRUSDPERP	+0.0395%	1h	12.841	−0.125%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0585%	8h	12.855	−0.016%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0793%	1h	12.865	+0.066%	$343K	$33K	10x	as long as short