LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0336%/8h= −36.8% APRnext payment −$0.42 per $10,000 · paid last 24h −0.042%

Price spread now: Deribit against Kraken Futures−0.012%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.216%−$22 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.012%, 7d avg −0.014%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.216% in total (about -11.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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	13.003	0.0501	pay 0.0063% / 1h	50m 34s	$6.8M	$8.0M	50x
Short	Deribit LINK_USDC-PERPETUAL	13.002	0.0165	get 0.0021% / 1h	50m 34s	$772K	$212K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$70.65
Price spread: −0.012% → −0.014%: $0.17
Slippage, 4 orders: −$25.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$112.98
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Deribit: live order book, 18 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	3.08 bp	12.5 bp −$13	18.8 bp −$188	60.9 bp −$6,089	doesn't fit
Sell Deribit live order book, 18 min ago	3.04 bp	10.2 bp −$10	16.3 bp −$163	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	12.994	−0.072%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.997	−0.044%	$462K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.993	−0.077%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.638%	$4K	$48K	12x	as long as short
dYdX LINK-USD	+0.0036%	1h	13.013	+0.074%	$345K	$48K	10x	as long as short
Phoenix LINK	+0.0049%	1h	12.998	−0.043%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	12.993	−0.078%	$124K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.001	−0.016%	$955K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.018	+0.114%	$1.9M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.067	+0.491%	$31K	$2K	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	13.015	+0.092%	$393K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.016	+0.096%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.018	+0.111%	$273K	$156K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.018	+0.114%	$120.4M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.015	+0.092%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.016	+0.099%	$27.3M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.029	+0.199%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.013	+0.076%	$128.8M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.018	+0.115%	$36.4M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.018	+0.115%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.010	+0.053%	$53.9M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.014	+0.084%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.007	+0.030%	$342K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.991	−0.089%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.176%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.984	−0.150%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	−0.139%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.021	+0.138%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.996	−0.057%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.009	+0.047%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.996	−0.055%	$24K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.980	−0.178%	$640K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.010	+0.054%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.998	−0.042%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0165%	1h	13.002	−0.012%	$772K	$212K	50x
BloFin LINK-USDT	+0.0220%	8h	12.960	−0.331%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	13.008	+0.037%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0492%	1h	13.025	+0.168%	$79.9M	$29.6M	10x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0501%	1h	13.003	long leg	$6.8M	$8.0M	50x
Phemex LINKUSDT	+0.0678%	8h	13.012	+0.068%	$20.1M	$11.5M	50x	as long as short