Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0407%/8h= −44.5% APRpaid last 24h −0.001%

Price spread now: Gate against Kraken Futures−0.058%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 3 days (all we have)−0.168%−$17 · spread now −0.058%, 7d avg −0.023%

Together, before fees−0.218%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Gate is 0.035% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% 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	13.084	0.0507	pay 0.0063% / 1h	52m 01s	$6.9M	$7.7M	50x
Short	Gate LINK_USDT	13.076	0.0100	get 0.0100% / 8h	2h 52m	$130.4M	$12.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.058%Rate

Funding earned: −$85.38
Price spread: −0.058% → −0.023%: −$3.53
Slippage, 4 orders: −$26.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$140.73
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Gate: live order book, 2 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	3.44 bp	10.6 bp −$11	13.7 bp −$137	53.6 bp −$5,363	doesn't fit
Sell Gate live order book, 2 min ago	1.15 bp	16.1 bp −$16	24.0 bp −$240	41.7 bp −$4,167	86.2 bp −$43.1K

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 +0.0166%	1h	13.086	+0.015%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.084	+0.003%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.080	−0.027%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.081	−0.023%	$697K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.087	+0.026%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.127	+0.335%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.197%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.225%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.069	−0.112%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.079	−0.032%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.076	−0.055%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.078	−0.043%	$399K	$316K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.086	+0.018%	$77.9M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.081	−0.021%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.081	−0.020%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.072	−0.087%	$120.9M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.075	−0.066%	$84.4M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.077	−0.050%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.101	+0.133%	$184K	$170K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.076	−0.058%	$130.4M	$12.4M	75x
MEXC LINK_USDT	+0.0100%	8h	13.073	−0.081%	$35.5M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.078	−0.043%	$21.7M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.073	−0.081%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.073	−0.081%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.082	−0.012%	$362K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.253%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.377%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.194%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.082	−0.012%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.074	−0.072%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.094	+0.082%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.066%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.078	−0.044%	$640K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.068	−0.117%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.078	−0.039%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.084	+0.003%	$987K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.090	+0.049%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.080	−0.025%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0507%	1h	13.084	long leg	$6.9M	$7.7M	50x
Phemex LINKUSDT	+0.0511%	8h	13.092	+0.064%	$20.2M	$11.5M	50x	as long as short