LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0492%/8h= −53.9% APRnext payment −$0.62 per $10,000 · paid last 24h +0.036%

Price spread now: dYdX against Kraken Futures−0.034%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$285as in the Price arb table

costs, in and out, $10k−$2822.818% of the position

Long on Kraken Futures Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now −0.034%, 7d avg −0.004%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and dYdX is 0.030% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.004%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.286%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.286% in total (about 14.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.62 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	13.135	0.0505	pay 0.0063% / 1h	1m 40s	$6.9M	$8.0M	50x
Short	dYdX LINK-USD	13.130	0.0012	get 0.0002% / 1h	1m 40s	$348K	$60K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$103.4
Price spread: −0.034% → −0.004%: −$3.01
Slippage, 4 orders: −$261.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$388.2
Costs to cover: 2.818%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; dYdX: live order book, 22 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, 2 min ago	2.66 bp	10.6 bp −$11	14.9 bp −$149	43.1 bp −$4,308	doesn't fit
Sell dYdX live order book, 22 min ago	125.69 bp	130.7 bp −$131	130.7 bp −$1,307	133.9 bp −$13.4K	195.3 bp −$97.6K

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	13.138	+0.030%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.144	+0.069%	$469K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.139	+0.034%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.138	+0.023%	$133K	—	150x	as long as short
dYdX LINK-USDshort	+0.0012%	1h	13.130	−0.034%	$348K	$60K	10x
Phoenix LINK	+0.0018%	1h	13.136	+0.013%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.593%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.135	+0.003%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.134	−0.007%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	+0.022%	$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	13.138	+0.026%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.139	+0.034%	$77.4M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.131	−0.030%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.133	−0.013%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.134	−0.003%	$121.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.131	−0.027%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.136	+0.011%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.151	+0.125%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.125	−0.073%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.128	−0.050%	$36.5M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.131	−0.027%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.125	−0.073%	$54.3M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.126	−0.065%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.121	−0.104%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.120	−0.108%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.174%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.126	−0.065%	$153K	$665K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.140	+0.041%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.133	−0.010%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.155	+0.155%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.127	−0.058%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.100	−0.266%	$644K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.123	−0.086%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.133	−0.014%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.126	−0.065%	$988K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0114%	1h	13.136	+0.011%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.130	−0.035%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.138	+0.025%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0477%	8h	13.147	+0.095%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0505%	1h	13.135	long leg	$6.9M	$8.0M	50x