Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0051%/8h= −5.5% APRpaid last 24h +0.025%

Price spread now: Kraken Futures against BingX+0.075%7-day average — · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.075% dearer against BingX than usual: you sell high and buy low (spread +0.075% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	12.825	0.0100	pay 0.0100% / 8h	7h 30m	—	$23.2M	—
Short	Kraken Futures PF_LINKUSD	12.835	0.0049	get 0.0006% / 1h	30m 41s	$6.4M	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$10.63
Price spread: +0.075% → 0.000%: $7.45
Slippage, 4 orders: −$13.76
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$36.94
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from BingX: 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 BingX live order book, 8 min ago	1.16 bp	6.8 bp −$7	9.8 bp −$98	21.5 bp −$2,153	47.2 bp −$23.6K
Sell Kraken Futures live order book, 3 min ago	3.11 bp	11.9 bp −$12	18.0 bp −$180	42.0 bp −$4,204	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
Orderly PERP_LINK_USDC	−0.0116%	8h	12.828	+0.023%	$90K	$974K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.832	+0.054%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.845	+0.156%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.833	+0.060%	$105K	—	150x	as long as short
Bybit LINKUSDT	+0.0023%	8h	12.821	−0.031%	$83.0M	$72.8M	75x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.314%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0049%	1h	12.835	+0.075%	$6.4M	$8.4M	50x
Phoenix LINK	+0.0087%	1h	12.863	+0.296%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.826	+0.006%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.835	+0.078%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.834	+0.074%	$348K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.831	+0.047%	$80.1M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.831	+0.050%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.837	+0.097%	$273K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.823	−0.016%	$118.4M	$296.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.821	−0.031%	$26.9M	$79.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.855	+0.234%	$180K	$100K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.826	+0.008%	$132.9M	$17.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.827	+0.016%	$35.6M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.832	+0.055%	$22.8M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.821	−0.031%	$53.5M	$29.8M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	12.825	long leg	—	$23.2M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.837	+0.094%	$334K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.832	+0.058%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.848	+0.176%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.871	+0.359%	$579K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.851	+0.203%	$131K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.839	+0.109%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.828	+0.026%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.853	+0.216%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.830	+0.039%	$10K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.835	+0.074%	$627K	$710K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.819	−0.050%	$614K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.833	+0.059%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.873	+0.374%	$926K	$3.2M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0210%	1h	12.838	+0.104%	$803K	$268K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.840	+0.117%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.829	+0.028%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0618%	8h	12.851	+0.203%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.1462%	1h	12.836	+0.089%	$345K	$49K	10x	as long as short