LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0379%/8h= −41.5% APRnext payment −$0.47 per $10,000 · paid last 24h −0.005%

Price spread now: Arcus against Kraken Futures+0.083%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.552% of the position

Long on Kraken Futures Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.083%, 7d avg +0.051%

Together, before fees−0.115%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.032% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of +0.051%): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 7 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.004% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.47 per $10,000. 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	Kraken Futures PF_LINKUSD	13.099	0.0479	pay 0.0060% / 1h	6m 05s	$6.9M	$8.2M	50x
Short	Arcus LINK-USD	13.110	0.0100	get 0.0013% / 1h	6m 05s	$184K	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kraken Futures. 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 Kraken FuturesbpFee ArcusbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$79.65
Price spread: +0.083% → +0.051%: $3.22
Slippage, 4 orders: −$40.65
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$131.58
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Arcus: live order book, 7 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 Kraken Futures live order book, 3 min ago	3.05 bp	10.6 bp −$11	17.5 bp −$175	38.6 bp −$3,856	doesn't fit
Sell Arcus live order book, 7 min ago	11.44 bp	13.8 bp −$14	21.0 bp −$210	doesn't fit	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 −0.0091% / S +0.0167%	1h	13.089	−0.075%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.104	+0.039%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.093	−0.044%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.091	−0.065%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.110	+0.079%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.337%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.086	−0.100%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.092	−0.054%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.090	−0.069%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.095	−0.031%	$400K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.100	+0.009%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.098	−0.007%	$275K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.097	−0.016%	$121.7M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.097	−0.016%	$84.4M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.097	−0.016%	$27.5M	$85.4M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	13.110	+0.083%	$184K	$172K	10x
Gate LINK_USDT	+0.0100%	8h	13.095	−0.031%	$129.9M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.092	−0.054%	$36.2M	$58.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.096	−0.024%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.095	−0.031%	$54.5M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.094	−0.039%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.102%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.104	+0.040%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.107	+0.060%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.106	+0.053%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.096	−0.024%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.087	−0.093%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.108	+0.067%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.089	−0.077%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.086	−0.096%	$644K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.095	−0.032%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.091	−0.061%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.111	+0.091%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.105	+0.045%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.097	−0.016%	$5.2M	$16.2M	75x	as long as short
Hyperliquid LINK	+0.0291%	1h	13.114	+0.114%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.087	−0.094%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0479%	1h	13.099	long leg	$6.9M	$8.2M	50x
Phemex LINKUSDT	+0.0490%	8h	13.107	+0.060%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0521%	1h	13.103	+0.028%	$347K	$48K	10x	as long as short