LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0574%/8h= −62.8% APRnext payment −$0.72 per $10,000 · paid last 24h −0.004%

Price spread now: Coinbase International against Kraken Futures+0.037%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$480.478% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.037%, 7d avg +0.003%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.034% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of +0.003%): +$3 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.034% in total) that is about 7.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.034% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 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	13.178	0.0694	pay 0.0087% / 1h	37m 33s	$7.0M	$8.0M	50x
Short	Coinbase International LINK-PERP-INTX	13.183	0.0120	get 0.0015% / 1h	37m 33s	$995K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$120.48
Price spread: +0.037% → +0.003%: $3.37
Slippage, 4 orders: −$27.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$164.9
Costs to cover: 0.478%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Coinbase International: 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 Kraken Futures live order book, 1 min ago	1.90 bp	11.3 bp −$11	18.0 bp −$180	54.0 bp −$5,402	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.04 bp	12.6 bp −$13	16.6 bp −$166	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	13.185	+0.050%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.166	−0.089%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.184	+0.045%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.188	+0.074%	$720K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.185	+0.049%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.905%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.230%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.182	+0.030%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.166	−0.089%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.158	−0.150%	$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	13.160	−0.134%	$400K	$312K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.167	−0.084%	$77.7M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.165	−0.103%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.164	−0.110%	$276K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.159	−0.148%	$122.1M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.156	−0.168%	$84.8M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.157	−0.160%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.179	+0.007%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.161	−0.130%	$130.7M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.162	−0.122%	$36.7M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.165	−0.099%	$22.2M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.159	−0.145%	$54.8M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.162	−0.122%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.205	+0.204%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.183	+0.038%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.179	+0.004%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.182	+0.030%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.159	−0.145%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.182	+0.029%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.189	+0.084%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.172	−0.046%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.159	−0.142%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.159	−0.147%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.173	−0.042%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	13.183	+0.037%	$995K	$2.7M	50x
Backpack LINK_USDC_PERP	+0.0181%	1h	13.181	+0.022%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.183	+0.037%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.154	−0.184%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0459%	8h	13.182	+0.030%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0694%	1h	13.178	long leg	$7.0M	$8.0M	50x