Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0402%/8h= +44.0% APRpaid last 24h +0.022%

Price spread now: Kraken Futures against Gate+0.058%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

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

costs, in and out, $10k−$510.514% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.058%, 7d avg +0.028%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.030% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.028%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.066% in total (about 3.4% 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	Gate LINK_USDT	12.982	0.0100	pay 0.0100% / 8h	6h 06m	$128.0M	$12.9M	75x
Short	Kraken Futures PF_LINKUSD	12.990	0.0502	get 0.0063% / 1h	6m 52s	$6.8M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.058%Rate

Funding earned: $84.41
Price spread: +0.058% → +0.028%: $3.01
Slippage, 4 orders: −$26.37
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $36.05
Costs to cover: 0.514%
Break-even: 4.0 days

Slippage from Gate: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Gate live order book, 2 min ago	0.77 bp	15.9 bp −$16	22.1 bp −$221	32.9 bp −$3,289	76.4 bp −$38.2K
Sell Kraken Futures live order book, 2 min ago	2.70 bp	10.4 bp −$10	12.5 bp −$125	45.2 bp −$4,523	doesn't fit

LINK on 39 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	12.975	−0.054%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.980	−0.016%	$468K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.976	−0.046%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.483%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.992	+0.079%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.975	−0.054%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.978	−0.031%	$950K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.983	+0.006%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.974	−0.059%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.966	−0.119%	$394K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.985	+0.021%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.981	−0.011%	$275K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.986	+0.031%	$119.4M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.977	−0.039%	$83.8M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.989	+0.054%	$27.4M	$82.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.990	+0.062%	$182K	$165K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.982	long leg	$128.0M	$12.9M	75x
MEXC LINK_USDT	+0.0100%	8h	12.985	+0.023%	$33.1M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.986	+0.031%	$23.0M	$14.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.980	−0.015%	$53.9M	$30.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.986	+0.031%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.979	−0.021%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.957	−0.190%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.959	−0.177%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	−0.185%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	−0.015%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.977	−0.041%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.980	−0.015%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.983	+0.008%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.914	−0.525%	$637K	$691K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.976	−0.043%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.982	−0.001%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0131%	1h	12.990	+0.062%	$338K	$379K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0197%	1h	12.985	+0.023%	$771K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.972	−0.074%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0448%	1h	12.983	+0.006%	$344K	$31K	10x	as long as short
Hyperliquid LINK	+0.0467%	1h	12.998	+0.123%	$80.8M	$26.2M	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0502%	1h	12.990	+0.058%	$6.8M	$8.1M	50x
Phemex LINKUSDT	+0.0638%	8h	12.997	+0.116%	$20.1M	$11.5M	50x	as long as short