Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0453%/8h= −49.6% APRpaid last 24h −0.016%

Price spread now: Aster against Kraken Futures−0.054%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.054%, 7d avg +0.017%

Together, before fees+0.059%+ Points / potential airdropAster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Aster is 0.071% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% 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	Kraken Futures PF_LINKUSD	13.019	0.0553	pay 0.0069% / 1h	43m 06s	$6.8M	$8.0M	50x
Short	Aster LINKUSDT	13.012	0.0100	get 0.0100% / 8h	5h 43m	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$95.21
Price spread: −0.054% → +0.017%: −$7.07
Slippage, 4 orders: −$24.06
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$144.34
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Aster: live order book, 5 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, 1 min ago	3.84 bp	12.1 bp −$12	17.0 bp −$170	49.0 bp −$4,896	doesn't fit
Sell Aster live order book, 5 min ago	1.54 bp	10.8 bp −$11	16.8 bp −$168	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 −0.0090% / S +0.0167%	1h	13.010	−0.063%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.012	−0.053%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.009	−0.076%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.751%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.026	+0.057%	$940K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.012	−0.050%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.015	−0.025%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.004	−0.111%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.008	−0.084%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	−0.089%	$395K	$315K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDTshort	+0.0100%	8h	13.012	−0.054%	$1.3M	$2.3M	50x
Pacifica LINK	+0.0100%	1h	13.010	−0.065%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.014	−0.038%	$119.9M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.009	−0.073%	$84.2M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.012	−0.050%	$27.5M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.022	+0.026%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.011	−0.058%	$128.6M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	−0.043%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.018	−0.004%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.011	−0.058%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.013	−0.043%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.364%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.995	−0.180%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.414%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.003	−0.119%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	−0.020%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.012	−0.050%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.025	+0.046%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.016	−0.020%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.990	−0.221%	$641K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.012	−0.054%	$701K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.019	+0.002%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.019	+0.003%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.015	−0.027%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0311%	1h	13.019	+0.005%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0363%	1h	13.008	−0.082%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.008	−0.078%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0553%	1h	13.019	long leg	$6.8M	$8.0M	50x
Phemex LINKUSDT	+0.0597%	8h	13.029	+0.080%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0731%	1h	13.023	+0.034%	$81.6M	$26.8M	10x	as long as short