Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0073%/8h= −7.9% APRpaid last 24h −0.028%

Price spread now: Binance against Kraken Futures−0.007%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$350.345% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now −0.007%, 7d avg −0.013%

Together, before fees−0.184%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.001	0.0173	pay 0.0022% / 1h	59m 04s	$6.5M	$7.4M	50x
Short	Binance LINKUSDT	13.000	0.0100	get 0.0100% / 8h	5h 59m	$120.6M	$269.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.007%Rate

Funding earned: −$15.24
Price spread: −0.007% → −0.013%: $0.57
Slippage, 4 orders: −$14.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$49.17
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Binance: live order book, 8 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	3.46 bp	12.0 bp −$12	14.8 bp −$148	41.8 bp −$4,184	doesn't fit
Sell Binance live order book, 8 min ago	0.39 bp	6.2 bp −$6	11.9 bp −$119	39.4 bp −$3,943	124.5 bp −$62.2K

LINK on 39 exchanges

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
Orderly PERP_LINK_USDC	−0.0188%	8h	12.989	−0.092%	$85K	$881K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.994	−0.050%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.009	+0.063%	$485K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.987	−0.107%	$107K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.010	+0.068%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.622%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0088%	8h	12.959	−0.321%	$608K	$676K	75x	as long as short
Lighter LINK	+0.0096%	1h	12.997	−0.028%	$1.9M	$2.3M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	12.977	−0.181%	$3.4M	$1.8M	—	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.998	−0.023%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.994	−0.049%	$349K	$280K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.008	+0.054%	$81.8M	$25.4M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.004	+0.027%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.004	+0.027%	$276K	$153K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	13.000	−0.007%	$120.6M	$269.7M	75x
Bybit LINKUSDT	+0.0100%	8h	12.998	−0.022%	$84.1M	$66.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.993	−0.061%	$27.3M	$74.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.012	+0.085%	$183K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.996	−0.038%	$134.3M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.999	−0.015%	$35.9M	$54.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.001	+0.001%	$23.0M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.992	−0.069%	$54.4M	$26.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.996	−0.038%	—	$23.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.004	+0.024%	$336K	$353K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.982	−0.148%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.006	+0.038%	$590K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.988	−0.099%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.998	−0.022%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	+0.080%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.997	−0.030%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.991	−0.075%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.998	−0.022%	$545K	$2K	3x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0173%	1h	13.001	long leg	$6.5M	$7.4M	50x
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.015	+0.108%	$943K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.996	−0.038%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0235%	1h	13.005	+0.035%	$891K	$355K	50x	as long as short
dYdX LINK-USD	+0.0354%	1h	13.009	+0.062%	$350K	$46K	10x	as long as short
Reya LINKRUSDPERP	+0.0407%	1h	12.989	−0.092%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0442%	8h	13.012	+0.085%	$20.1M	$10.5M	50x	as long as short