Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0594%/8h= −65.0% APRpaid last 24h +0.003%

Price spread now: edgeX against Kraken Futures−0.135%76s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.351% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now −0.135%, 7d avg −0.039%

Together, before fees+0.042%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and edgeX is 0.096% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.039%). Swap the legs. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% 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	13.177	0.0694	pay 0.0087% / 1h	9m 50s	$6.9M	$8.1M	50x
Short	edgeX LINKUSDC	13.160	0.0100	get 0.0050% / 4h	1h 09m	$44K	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$124.68
Price spread: −0.135% → −0.039%: −$9.58
Slippage, 4 orders: −$16.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$169.38
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; edgeX: 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, 4 min ago	3.04 bp	12.2 bp −$12	17.5 bp −$175	43.3 bp −$4,330	doesn't fit
Sell edgeX live order book, 8 min ago	2.28 bp	6.9 bp −$7	10.4 bp −$104	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	13.168	−0.070%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.177	−0.006%	$470K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.175	−0.019%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.173	−0.034%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.900%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.183	+0.040%	$3K	$81K	10x	as long as short
dYdX LINK-USD	+0.0041%	1h	13.164	−0.100%	$349K	$48K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.168	−0.072%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.173	−0.034%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.161	−0.128%	$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	13.163	−0.106%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.192	+0.110%	$77.9M	$24.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.179	+0.012%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.167	−0.077%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.179	+0.012%	$122.4M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.178	+0.004%	$85.0M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.182	+0.034%	$27.8M	$86.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.180	+0.019%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.178	+0.004%	$130.7M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.177	−0.004%	$36.3M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.181	+0.027%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.178	+0.004%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.178	+0.004%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.165	−0.097%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	13.160	−0.135%	$44K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.162	−0.119%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.163	−0.110%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.168	−0.072%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.167	−0.077%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.178	+0.006%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.170	−0.057%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.156	−0.166%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.175	−0.016%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.173	−0.030%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.179	+0.012%	$995K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.187	+0.072%	$365K	$377K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.170	−0.057%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.161	−0.124%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.187	+0.072%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0694%	1h	13.177	long leg	$6.9M	$8.1M	50x