Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.026%

Price spread now: GRVT against Kraken Futures−0.216%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.216%, 7d avg −0.032%

Together, before fees−0.033%+ Points / potential airdropGRVT: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GRVT is 0.185% cheaper against Kraken Futures than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	12.858	0.0278	pay 0.0035% / 1h	37m 31s	$6.6M	$8.3M	50x
Short	GRVT LINK_USDT_Perp	12.830	0.0100	get 0.0100% / 8h	2h 37m	$586K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$37.48
Price spread: −0.216% → −0.032%: −$18.49
Slippage, 4 orders: −$19.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$94.79
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; GRVT: 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	3.89 bp	11.7 bp −$12	16.3 bp −$163	43.0 bp −$4,299	doesn't fit
Sell GRVT live order book, 1 min ago	1.56 bp	6.1 bp −$6	18.6 bp −$186	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 −0.0089% / S +0.0166%	1h	12.846	−0.089%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.848	−0.077%	$499K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.848	−0.077%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.561%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0050%	8h	12.845	−0.100%	$97K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.879	+0.165%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.875	+0.136%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.880	+0.171%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.870	+0.091%	$343K	$342K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.874	+0.125%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.875	+0.135%	$274K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.874	+0.122%	$118.9M	$302.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.871	+0.102%	$83.0M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.870	+0.095%	$27.2M	$80.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.890	+0.250%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.870	+0.095%	$124.0M	$14.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.879	+0.165%	$32.9M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.873	+0.118%	$22.7M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.878	+0.157%	$53.8M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.876	+0.141%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.864	+0.048%	$337K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.841	−0.128%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.827	−0.237%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perpshort	+0.0100%	8h	12.830	−0.216%	$586K	$2.9M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	12.822	−0.279%	$131K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.858	+0.001%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.849	−0.069%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.869	+0.088%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.854	−0.030%	$10K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.828	−0.231%	$630K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.874	+0.123%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.856	−0.014%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.837	−0.162%	$914K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.838	−0.154%	$5.2M	$15.7M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0225%	1h	12.861	+0.024%	$786K	$231K	50x	as long as short
Hyperliquid LINK	+0.0240%	1h	12.881	+0.180%	$80.2M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0278%	1h	12.858	long leg	$6.6M	$8.3M	50x
Reya LINKRUSDPERP	+0.0395%	1h	12.852	−0.048%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0585%	8h	12.857	−0.006%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0901%	1h	12.873	+0.117%	$343K	$33K	10x	as long as short