LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0693%/8h= +75.8% APRnext payment +$0.87 per $10,000 · paid last 24h +0.027%

Price spread now: Kraken Futures against Deribit+0.030%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.192%+$19 on $10k

Price spread, last 3 days (all we have)−0.014%−$1 · spread now +0.030%, 7d avg +0.013%

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

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: +$21 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.192% in total (about 10.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.87 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	13.195	0	get 0.0000% / 1h	5m 41s	$723K	$128K	50x
Short	Kraken Futures PF_LINKUSD	13.199	0.0693	get 0.0087% / 1h	5m 41s	$7.0M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now +0.030%Rate

Funding earned: $145.45
Price spread: +0.030% → +0.013%: $1.67
Slippage, 4 orders: −$22.03
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $108.09
Costs to cover: 0.390%
Break-even: 1.8 days

Slippage from Deribit: live order book, 13 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 Deribit live order book, 13 min ago	4.17 bp	7.7 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	1.89 bp	10.2 bp −$10	14.6 bp −$146	39.3 bp −$3,932	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 −0.0090% / S +0.0167%	1h	13.194	−0.007%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.197	+0.021%	$503K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALlong	0.0000%	1h	13.195	long leg	$723K	$128K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.194	−0.002%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.022%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.190	−0.033%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.191	−0.027%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0050%	1h	13.187	−0.057%	$349K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.189	−0.045%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.194	−0.003%	$32K	$3K	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	13.197	+0.016%	$403K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.202	+0.056%	$78.0M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.190	−0.031%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.192	−0.021%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.191	−0.027%	$122.7M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.194	−0.005%	$85.2M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.197	+0.018%	$27.8M	$86.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.208	+0.102%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.188	−0.050%	$130.7M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.196	+0.011%	$36.4M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.191	−0.027%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.197	+0.018%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.195	+0.003%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.165	−0.226%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	−0.118%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.189	−0.046%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.187	−0.058%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.200	+0.041%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.188	−0.048%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.211	+0.122%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.190	−0.035%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.169	−0.190%	$648K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.194	−0.002%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.194	−0.001%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.184	−0.080%	$992K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0215%	1h	13.198	+0.026%	$365K	$379K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.190	−0.035%	$5.2M	$17.2M	75x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.194	−0.006%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0465%	8h	13.208	+0.102%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0693%	1h	13.199	+0.030%	$7.0M	$8.1M	50x