LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0073%/8h= +8.0% APRnext payment +$0.09 per $10,000 · paid last 24h +0.036%

Price spread now: Kraken Futures against Coinbase International−0.070%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$450.452% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.070%, 7d avg −0.005%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.065% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.005%). If the spread goes back, that is −$7 on $10k: about 3.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	12.929	0.0120	pay 0.0015% / 1h	0m 35s	$931K	$2.8M	50x
Short	Kraken Futures PF_LINKUSD	12.920	0.0193	get 0.0024% / 1h	0m 35s	$6.5M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. 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 Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now −0.070%Rate

Funding earned: $15.28
Price spread: −0.070% → −0.005%: −$6.55
Slippage, 4 orders: −$25.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$36.45
Costs to cover: 0.452%
Break-even: 23.7 days

Slippage from Coinbase International: live order book, 3 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 Coinbase International live order book, 3 min ago	2.32 bp	12.3 bp −$12	15.6 bp −$156	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.70 bp	10.4 bp −$10	14.7 bp −$147	40.9 bp −$4,086	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 −0.0087% / S +0.0165%	1h	12.918	−0.087%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0042%	8h	12.912	−0.131%	$92K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.930	+0.004%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.918	−0.081%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.092%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.972	+0.332%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.917	−0.090%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.919	−0.079%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.914	−0.120%	$354K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.922	−0.057%	$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	12.919	−0.077%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.917	−0.093%	$119.3M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.912	−0.131%	$83.5M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.919	−0.077%	$27.1M	$79.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.940	+0.085%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.918	−0.085%	$134.6M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.919	−0.077%	$34.1M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.920	−0.070%	$22.9M	$12.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.918	−0.085%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.922	−0.054%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.922	−0.054%	$336K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.906	−0.176%	$3.3M	$1.9M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.932	+0.022%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.931	+0.014%	$583K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.951	+0.170%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.920	−0.070%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.933	+0.030%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.935	+0.050%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.916	−0.101%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.887	−0.326%	$630K	$782K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.918	−0.085%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.918	−0.089%	$542K	$2K	3x	as long as short
Hyperliquid LINK	+0.0111%	1h	12.924	−0.039%	$80.9M	$28.0M	10x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0120%	1h	12.929	long leg	$931K	$2.8M	50x
Deribit LINK_USDC-PERPETUAL	+0.0184%	1h	12.924	−0.043%	$808K	$268K	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0193%	1h	12.920	−0.070%	$6.5M	$8.5M	50x
BloFin LINK-USDT	+0.0220%	8h	12.915	−0.108%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.911	−0.139%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0546%	8h	12.935	+0.046%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0594%	1h	12.917	−0.096%	$344K	$45K	10x	as long as short