Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.025%

Price spread now: Kraken Futures against KuCoin+0.035%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now +0.035%, 7d avg +0.014%

Together, before fees+0.288%+$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.021% dearer against KuCoin than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of +0.014%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 32 hours. Mind the row above: over the last 7 days funding on this pair paid +0.097%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.064	0.0100	pay 0.0100% / 8h	7h 02m	$23.2M	$12.2M	75x
Short	Kraken Futures PF_LINKUSD	13.069	0.0049	get 0.0006% / 1h	2m 31s	$6.5M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$10.81
Price spread: +0.035% → +0.014%: $2.09
Slippage, 4 orders: −$24.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$54.85
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Kraken Futures: 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 KuCoin live order book, 6 min ago	1.15 bp	11.6 bp −$12	18.7 bp −$187	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	2.30 bp	11.5 bp −$11	18.6 bp −$186	79.3 bp −$7,930	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
Orderly PERP_LINK_USDC	−0.0132%	8h	13.055	−0.069%	$91K	$914K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.061	−0.024%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.071	+0.053%	$501K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.063	−0.008%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.083%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0049%	1h	13.069	+0.035%	$6.5M	$8.3M	50x
Phoenix LINK	+0.0087%	1h	13.062	−0.014%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.058	−0.048%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.054	−0.073%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.056	−0.057%	$351K	$315K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.069	+0.038%	$81.6M	$27.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.062	−0.016%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.059	−0.040%	$278K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.053	−0.084%	$120.7M	$287.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.047	−0.130%	$84.5M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.049	−0.115%	$27.5M	$77.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.071	+0.054%	$183K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.059	−0.038%	$135.2M	$18.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.058	−0.046%	$36.3M	$60.5M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.064	long leg	$23.2M	$12.2M	75x
Bitget LINKUSDT	+0.0100%	8h	13.056	−0.061%	$54.7M	$28.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.056	−0.061%	—	$22.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.065	+0.008%	$340K	$371K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.065	+0.010%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.058	−0.047%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.055	−0.072%	$588K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.061	−0.023%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.065	+0.008%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.072	+0.064%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.062	−0.015%	$15K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.002	−0.478%	$624K	$679K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.051	−0.099%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.064	0.000%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.063	−0.008%	$941K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.058	−0.046%	$5.3M	$16.1M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0309%	1h	13.070	+0.045%	$876K	$327K	50x	as long as short
Phemex LINKUSDT	+0.0315%	8h	13.078	+0.107%	$20.2M	$11.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.057	−0.054%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0823%	1h	13.061	−0.024%	$351K	$48K	10x	as long as short