LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0402%/8h= −44.0% APRnext payment −$0.50 per $10,000 · paid last 24h −0.012%

Price spread now: Pacifica against Kraken Futures−0.187%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 3 days (all we have)+0.148%+$15 · spread now −0.187%, 7d avg −0.008%

Together, before fees+0.077%+ Points / potential airdropPacifica: Active · farm board+$8 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 Pacifica is 0.179% 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 −0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. 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	12.993	0.0502	pay 0.0063% / 1h	30m 10s	$6.8M	$8.1M	50x
Short	Pacifica LINK	12.968	0.0100	get 0.0013% / 1h	30m 10s	$275K	$164K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.187%Rate

Funding earned: −$84.38
Price spread: −0.187% → −0.008%: −$17.93
Slippage, 4 orders: −$27.78
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$148.1
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Pacifica: live order book, 38 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	3.86 bp	12.3 bp −$12	18.0 bp −$180	60.7 bp −$6,074	doesn't fit
Sell Pacifica live order book, 38 min ago	5.31 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit

LINK on 39 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	12.977	−0.119%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.977	−0.122%	$471K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.978	−0.114%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.560%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	−0.111%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.980	−0.096%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.951	−0.320%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.985	−0.058%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.005	+0.100%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.975	−0.139%	$394K	$317K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.977	−0.117%	$1.3M	$3.0M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	12.968	−0.187%	$275K	$164K	10x
Binance LINKUSDT	+0.0100%	8h	12.989	−0.023%	$119.3M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.986	−0.050%	$83.8M	$72.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.992	−0.004%	$27.3M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.986	−0.050%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.991	−0.012%	$128.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.991	−0.012%	$33.2M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.993	+0.004%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.993	+0.004%	$54.1M	$30.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.992	−0.004%	—	$23.0M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.001	+0.065%	$338K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.952	−0.308%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.955	−0.291%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.943	−0.379%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	−0.266%	$133K	$684K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	−0.096%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.980	−0.098%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.991	−0.012%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.987	−0.042%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.950	−0.326%	$639K	$860K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.982	−0.085%	$658K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.985	−0.058%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0297%	1h	12.990	−0.022%	$771K	$212K	50x	as long as short
dYdX LINK-USD	+0.0301%	1h	12.962	−0.235%	$343K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.975	−0.138%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0400%	1h	13.007	+0.112%	$79.8M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0502%	1h	12.993	long leg	$6.8M	$8.1M	50x
Phemex LINKUSDT	+0.0634%	8h	12.994	+0.011%	$20.1M	$11.5M	50x	as long as short