LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0242%/8h= −26.5% APRnext payment −$0.30 per $10,000 · paid last 24h −0.009%

Price spread now: Kraken Futures against dYdX−0.127%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1241.244% of the position

Long on dYdX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)+0.271%+$27 · spread now −0.127%, 7d avg +0.010%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.137% cheaper against dYdX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.003	0.0486	pay 0.0061% / 1h	57m 43s	$344K	$30K	10x
Short	Kraken Futures PF_LINKUSD	12.986	0.0244	get 0.0030% / 1h	57m 43s	$6.7M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against dYdX. 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 dYdXbpFee Kraken FuturesbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$50.79
Price spread: −0.127% → +0.010%: −$13.74
Slippage, 4 orders: −$104.42
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$188.94
Costs to cover: 1.244%
Break-even: never at this rate

Slippage from dYdX: live order book, 61 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 dYdX live order book, 61 min ago	46.47 bp	51.5 bp −$51	51.5 bp −$515	180.5 bp −$18.0K	598.1 bp −$299.0K
Sell Kraken Futures live order book, 1 min ago	3.08 bp	11.6 bp −$12	16.0 bp −$160	43.1 bp −$4,305	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	12.976	−0.204%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.983	−0.150%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.977	−0.200%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.635%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0054%	8h	12.979	−0.182%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.007	+0.031%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.977	−0.198%	$3K	$81K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.006	+0.024%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.978	−0.188%	$391K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.992	−0.082%	$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	13.008	+0.044%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.006	+0.026%	$120.5M	$298.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.000	−0.020%	$83.9M	$72.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.005	+0.018%	$27.5M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.017	+0.110%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.990	−0.097%	$128.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	+0.018%	$32.9M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.011	+0.064%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.000	−0.020%	$54.1M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.002	−0.005%	—	$22.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.990	−0.096%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	−0.091%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.971	−0.244%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	−0.213%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.985	−0.136%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.981	−0.167%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.997	−0.044%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.983	−0.151%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.968	−0.266%	$636K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.983	−0.148%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.982	−0.155%	$544K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.998	−0.036%	$943K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.999	−0.028%	$340K	$386K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0189%	1h	12.988	−0.110%	$781K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.980	−0.174%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0244%	1h	12.986	−0.127%	$6.7M	$8.1M	50x
Hyperliquid LINK	+0.0388%	1h	13.010	+0.056%	$81.5M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	12.974	−0.221%	$4K	—	20x	as long as short
dYdX LINK-USDlong	+0.0486%	1h	13.003	long leg	$344K	$30K	10x
Phemex LINKUSDT	+0.0529%	8h	12.994	−0.067%	$20.1M	$11.4M	50x	as long as short