Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.033%

Price spread now: Kraken Futures against Binance−0.057%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$370.371% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.057%, 7d avg +0.015%

Together, before fees+0.195%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.072% cheaper against Binance than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.015%). If the spread goes back, that is −$7 on $10k: about 2.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.073% in total) that is about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	12.908	0.0100	pay 0.0100% / 8h	1h 50m	$119.0M	$301.7M	75x
Short	Kraken Futures PF_LINKUSD	12.900	0.0193	get 0.0024% / 1h	50m 39s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.057%Rate

Funding earned: $19.54
Price spread: −0.057% → +0.015%: −$7.23
Slippage, 4 orders: −$17.06
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$24.75
Costs to cover: 0.371%
Break-even: 15.9 days

Slippage from Binance: live order book, 8 min ago; Kraken Futures: live order book, 3 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 Binance live order book, 8 min ago	0.39 bp	5.8 bp −$6	9.2 bp −$92	33.4 bp −$3,336	113.4 bp −$56.7K
Sell Kraken Futures live order book, 3 min ago	0.39 bp	11.1 bp −$11	15.4 bp −$154	40.0 bp −$3,995	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	12.898	−0.075%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.903	−0.036%	$511K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.896	−0.092%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0011%	8h	12.889	−0.146%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.935%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.893	−0.112%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.907	−0.007%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.907	−0.007%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.883	−0.193%	$349K	$339K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.904	−0.027%	$1.2M	$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	12.907	−0.007%	$275K	$183K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	12.908	long leg	$119.0M	$301.7M	75x
Bybit LINKUSDT	+0.0100%	8h	12.904	−0.030%	$83.3M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.906	−0.014%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.102%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.904	−0.030%	$124.1M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.907	−0.007%	$33.4M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.907	−0.007%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.904	−0.030%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.905	−0.022%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.890	−0.136%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.892	−0.122%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	−0.108%	$585K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.897	−0.084%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.901	−0.053%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.895	−0.098%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.896	−0.089%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.896	−0.092%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.877	−0.237%	$631K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.903	−0.037%	$629K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.899	−0.069%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.914	+0.048%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0134%	1h	12.907	−0.007%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0193%	1h	12.900	−0.057%	$6.6M	$8.3M	50x
BloFin LINK-USDT	+0.0220%	8h	12.891	−0.131%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0262%	1h	12.903	−0.035%	$807K	$259K	50x	as long as short
Hyperliquid LINK	+0.0318%	1h	12.922	+0.110%	$80.6M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.894	−0.107%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0573%	8h	12.899	−0.069%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0954%	1h	12.901	−0.051%	$344K	$33K	10x	as long as short