LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0070%/8h= +7.6% APRnext payment +$0.09 per $10,000 · paid last 24h +0.047%

Price spread now: Kraken Futures against Deribit−0.033%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.033%, 7d avg +0.013%

Together, before fees+0.283%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.046% cheaper against Deribit than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.013%). If the spread goes back, that is −$5 on $10k: about 2.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	12.893	0.0208	pay 0.0026% / 1h	20m 41s	$796K	$244K	50x
Short	Kraken Futures PF_LINKUSD	12.888	0.0278	get 0.0035% / 1h	20m 41s	$6.6M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now −0.033%Rate

Funding earned: $14.66
Price spread: −0.033% → +0.013%: −$4.64
Slippage, 4 orders: −$24.03
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$31.01
Costs to cover: 0.410%
Break-even: 21.8 days

Slippage from Deribit: live order book, 28 min ago; Kraken Futures: live order book, 3 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 Deribit live order book, 28 min ago	4.25 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 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	12.891	−0.014%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.908	+0.123%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.892	−0.009%	$157K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.821%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0040%	8h	12.882	−0.082%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.881	−0.088%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.919	+0.207%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.901	+0.069%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.895	+0.019%	$346K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.920	+0.214%	$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	12.903	+0.077%	$275K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.921	+0.217%	$118.8M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.915	+0.174%	$83.4M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.922	+0.228%	$27.4M	$80.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.916	+0.181%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.905	+0.096%	$124.5M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.910	+0.135%	$32.9M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.907	+0.112%	$22.8M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.916	+0.181%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.914	+0.166%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.897	+0.034%	$336K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.887	−0.042%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.844	−0.375%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.850	−0.330%	$582K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.849	−0.338%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.907	+0.112%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.884	−0.068%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.914	+0.167%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.888	−0.036%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.867	−0.198%	$632K	$675K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.907	+0.115%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.888	−0.039%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.857	−0.276%	$915K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0208%	1h	12.893	long leg	$796K	$244K	50x
BloFin LINK-USDT	+0.0220%	8h	12.895	+0.019%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0234%	1h	12.933	+0.313%	$80.5M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0278%	1h	12.888	−0.033%	$6.6M	$8.2M	50x
Reya LINKRUSDPERP	+0.0395%	1h	12.897	+0.038%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0575%	8h	12.903	+0.081%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0732%	1h	12.918	+0.196%	$344K	$33K	10x	as long as short