Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0373%/8h= +40.9% APRpaid last 24h +0.005%

Price spread now: Kraken Futures against edgeX+0.144%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.144%, 7d avg +0.039%

Together, before fees−0.043%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.105% dearer against edgeX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.039%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.037% in total (about -1.9% 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	edgeX LINKUSDC	13.250	0.0100	pay 0.0050% / 4h	52m 37s	$44K	$308K	20x
Short	Kraken Futures PF_LINKUSD	13.269	0.0473	get 0.0059% / 1h	52m 37s	$7.0M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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 edgeXbpFee Kraken FuturesbpOrdersPrice spread, now +0.144%Rate

Funding earned: $78.36
Price spread: +0.144% → +0.039%: $10.46
Slippage, 4 orders: −$15.25
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $54.58
Costs to cover: 0.342%
Break-even: 2.1 days

Slippage from edgeX: live order book, 25 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 edgeX live order book, 25 min ago	2.28 bp	6.8 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	3.02 bp	8.6 bp −$9	13.8 bp −$138	40.2 bp −$4,021	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 −0.0090% / S +0.0167%	1h	13.259	+0.069%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.255	+0.037%	$476K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.259	+0.068%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.224	−0.197%	$4K	$84K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0014%	1h	13.263	+0.098%	$727K	$128K	50x	as long as short
dYdX LINK-USD	+0.0033%	1h	13.248	−0.015%	$351K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.415%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.258	+0.061%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.239	−0.084%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.240	−0.077%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.244	−0.041%	$406K	$314K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.244	−0.046%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.244	−0.042%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.241	−0.068%	$123.3M	$303.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.238	−0.090%	$85.5M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.242	−0.060%	$27.9M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.259	+0.068%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.248	−0.015%	$131.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.242	−0.060%	$37.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.250	0.000%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.240	−0.075%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.243	−0.053%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.231	−0.145%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.250	long leg	$44K	$308K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	−0.015%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.228	−0.166%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.245	−0.037%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.254	+0.031%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.276	+0.193%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.260	+0.076%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.229	−0.159%	$651K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.239	−0.083%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.260	+0.073%	$556K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.251	+0.008%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.249	−0.007%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0301%	1h	13.263	+0.098%	$78.4M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.240	−0.076%	$5K	—	20x	as long as short
Backpack LINK_USDC_PERP	+0.0392%	1h	13.270	+0.151%	$366K	$381K	15x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.274	+0.181%	$20.6M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0473%	1h	13.269	+0.144%	$7.0M	$8.2M	50x