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 +0.028%

Price spread now: Kraken Futures against OKX+0.033%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.033%, 7d avg +0.034%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	13.000	0.0100	pay 0.0100% / 8h	3h 56m	$27.5M	$81.4M	50x
Short	Kraken Futures PF_LINKUSD	13.004	0.0243	get 0.0030% / 1h	56m 59s	$6.7M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.033%Rate

Funding earned: $30.1
Price spread: +0.033% → +0.034%: −$0.15
Slippage, 4 orders: −$15.97
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$6.02
Costs to cover: 0.360%
Break-even: 8.4 days

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 2 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 OKX live order book, 2 min ago	0.38 bp	7.5 bp −$7	14.5 bp −$145	28.0 bp −$2,798	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.08 bp	11.6 bp −$12	16.0 bp −$160	43.1 bp −$4,305	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	12.998	−0.015%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.006	+0.045%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.999	−0.008%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.615%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.999	−0.008%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.001	+0.006%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.149%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.006	+0.045%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.999	−0.004%	$392K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.001	+0.006%	$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	13.008	+0.065%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.003	+0.024%	$120.5M	$298.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.996	−0.031%	$83.9M	$72.2M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	13.000	long leg	$27.5M	$81.4M	50x
Arcus LINK-USD	+0.0100%	1h	13.017	+0.131%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.000	0.000%	$128.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.003	+0.023%	$32.9M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.005	+0.038%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.999	−0.008%	$54.1M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.998	−0.015%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.990	−0.075%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.989	−0.087%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.977	−0.178%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.995	−0.038%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.006	+0.046%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.996	−0.027%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.013	+0.097%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	0.000%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.979	−0.158%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.995	−0.035%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.001	+0.004%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.012	+0.092%	$942K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0197%	1h	13.008	+0.062%	$341K	$386K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.999	−0.008%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0227%	1h	13.005	+0.035%	$782K	$202K	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0243%	1h	13.004	+0.033%	$6.7M	$8.1M	50x
Reya LINKRUSDPERP	+0.0391%	1h	12.997	−0.023%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0405%	1h	13.015	+0.117%	$81.5M	$27.4M	10x	as long as short
dYdX LINK-USD	+0.0486%	1h	13.003	+0.020%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0517%	8h	13.014	+0.108%	$20.1M	$11.4M	50x	as long as short