Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h +0.003%

Price spread now: MEXC against Kraken Futures−0.064%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now −0.064%, 7d avg −0.012%

Together, before fees−0.073%−$7 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 MEXC is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.9% 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	13.154	0.0504	pay 0.0063% / 1h	23m 08s	$7.0M	$7.8M	50x
Short	MEXC LINK_USDT	13.146	0.0100	get 0.0100% / 8h	2h 23m	$36.7M	$56.5M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$84.8
Price spread: −0.064% → −0.012%: −$5.17
Slippage, 4 orders: −$13.63
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$113.61
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; MEXC: 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, 6 min ago	3.04 bp	10.6 bp −$11	14.1 bp −$141	42.0 bp −$4,205	doesn't fit
Sell MEXC live order book, 1 min ago	0.38 bp	0.6 bp −$1	3.8 bp −$38	22.7 bp −$2,266	44.6 bp −$22.3K

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 −0.0092% / S +0.0166%	1h	13.147	−0.059%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.154	−0.003%	$467K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.148	−0.052%	$713K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.148	−0.048%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.152	−0.022%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0020%	1h	13.158	+0.026%	$349K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.735%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.141	−0.102%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0076%	8h	13.148	−0.048%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.150	−0.031%	$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	13.153	−0.008%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.158	+0.031%	$400K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.159	+0.035%	$77.8M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.151	−0.029%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.158	+0.031%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.144	−0.081%	$121.5M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.145	−0.071%	$84.6M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.149	−0.041%	$27.8M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.168	+0.104%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.147	−0.056%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.146	−0.064%	$36.7M	$56.5M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.149	−0.041%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.142	−0.094%	$54.4M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.145	−0.071%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.144	−0.076%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.146	−0.060%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.147	−0.056%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.152	−0.018%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.143	−0.088%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.160	+0.046%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.146	−0.064%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.139	−0.118%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.144	−0.078%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.148	−0.045%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.153	−0.010%	$989K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0118%	1h	13.154	−0.003%	$365K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.149	−0.041%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.144	−0.079%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0470%	8h	13.156	+0.012%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0504%	1h	13.154	long leg	$7.0M	$7.8M	50x