Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0143%/8h= −15.7% APRpaid last 24h −0.025%

Price spread now: KuCoin against Kraken Futures−0.085%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.085%, 7d avg −0.018%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and KuCoin is 0.067% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.002	0.0243	pay 0.0030% / 1h	29m 47s	$6.7M	$8.1M	50x
Short	KuCoin LINKUSDTM	12.991	0.0100	get 0.0100% / 8h	3h 29m	$22.8M	$13.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$30.11
Price spread: −0.085% → −0.018%: −$6.71
Slippage, 4 orders: −$27.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$85.95
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: live order book, 4 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	2.69 bp	8.9 bp −$9	12.7 bp −$127	34.6 bp −$3,455	doesn't fit
Sell KuCoin live order book, 4 min ago	1.15 bp	14.0 bp −$14	25.2 bp −$252	67.1 bp −$6,711	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	12.999	−0.026%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.005	+0.025%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.000	−0.017%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.631%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0050%	8h	12.994	−0.062%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.992	−0.079%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.985	−0.128%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.983	−0.144%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.992	−0.078%	$392K	$309K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.989	−0.103%	$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	12.988	−0.108%	$277K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.987	−0.116%	$120.6M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.985	−0.132%	$83.9M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.980	−0.170%	$27.5M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.012	+0.076%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.987	−0.116%	$128.7M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.987	−0.116%	$32.8M	$56.8M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.991	−0.085%	$22.8M	$13.4M	75x
Bitget LINKUSDT	+0.0100%	8h	12.980	−0.170%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.985	−0.132%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.996	−0.047%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.006	+0.032%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.172%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.983	−0.147%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.988	−0.109%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.004	+0.015%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.997	−0.042%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.009	+0.052%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.996	−0.047%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.983	−0.146%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	−0.169%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.999	−0.024%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.005	+0.022%	$926K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0158%	1h	13.004	+0.011%	$789K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	+0.022%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0243%	1h	13.002	long leg	$6.7M	$8.1M	50x
Hyperliquid LINK	+0.0348%	1h	13.001	−0.009%	$81.2M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.997	−0.038%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0543%	8h	13.008	+0.045%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0687%	1h	12.985	−0.129%	$344K	$30K	10x	as long as short