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: SunX against Kraken Futures−0.070%7-day average +0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.070%, 7d avg +0.082%

Together, before fees+0.059%+$6 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 SunX is 0.151% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.012	0.0243	pay 0.0030% / 1h	30m 41s	$6.7M	$8.1M	50x
Short	SunX LINK-USDT	13.003	0.0100	get 0.0100% / 8h	3h 30m	$33K	$1.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$30.07
Price spread: −0.070% → +0.082%: −$15.14
Slippage, 4 orders: −$41.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$104.81
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SunX: 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, 3 min ago	2.69 bp	8.9 bp −$9	12.7 bp −$127	34.6 bp −$3,455	doesn't fit
Sell SunX live order book, 4 min ago	13.67 bp	19.2 bp −$19	doesn't fit	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	13.007	−0.038%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.000	−0.093%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.007	−0.040%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.706%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	13.006	−0.049%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.992	−0.157%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.994	−0.142%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.983	−0.223%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	−0.037%	$393K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.998	−0.112%	$1.3M	$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	12.996	−0.124%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.996	−0.126%	$120.7M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.994	−0.141%	$84.0M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.997	−0.118%	$27.5M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.012	−0.003%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.996	−0.126%	$128.8M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.995	−0.134%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.007	−0.041%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.993	−0.149%	$54.2M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.997	−0.118%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.017	+0.036%	$342K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.006	−0.047%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.250%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.983	−0.226%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.988	−0.187%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.015	+0.020%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.010	−0.019%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.003	−0.070%	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	13.011	−0.011%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.997	−0.117%	$638K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.991	−0.163%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.015	+0.020%	$546K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.996	−0.126%	$925K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	−0.057%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0243%	1h	13.012	long leg	$6.7M	$8.1M	50x
Deribit LINK_USDC-PERPETUAL	+0.0311%	1h	13.019	+0.052%	$790K	$210K	50x	as long as short
Hyperliquid LINK	+0.0352%	1h	13.007	−0.041%	$81.3M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	13.005	−0.054%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0534%	8h	13.015	+0.020%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0658%	1h	13.000	−0.097%	$344K	$30K	10x	as long as short