Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0457%/8h= +50.0% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against HTX+0.236%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$880.877% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.236%, 7d avg +0.095%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.141% dearer against HTX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.095%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.008% in total (about -0.4% a year). A funding rate is set anew for every payment. 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	HTX LINK-USDT	12.911	0.0100	pay 0.0100% / 8h	5h 06m	$632K	$704K	75x
Short	Kraken Futures PF_LINKUSD	12.942	0.0557	get 0.0070% / 1h	6m 18s	$6.7M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now +0.236%Rate

Funding earned: $95.9
Price spread: +0.236% → +0.095%: $14.11
Slippage, 4 orders: −$65.72
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $22.29
Costs to cover: 0.877%
Break-even: 5.4 days

Slippage from HTX: live order book, 57 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 HTX live order book, 57 min ago	23.83 bp	30.8 bp −$31	79.9 bp −$799	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.24 bp	13.3 bp −$13	16.9 bp −$169	47.9 bp −$4,792	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	12.936	+0.194%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.950	+0.299%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.935	+0.187%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.960%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0063%	8h	12.931	+0.153%	$117K	$1.4M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.949	+0.292%	$961K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0067%	1h	12.939	+0.212%	$771K	$177K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.936	+0.193%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	+0.605%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.940	+0.222%	$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	12.934	+0.172%	$391K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.933	+0.169%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.944	+0.257%	$273K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.937	+0.199%	$119.6M	$296.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.935	+0.184%	$83.5M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.935	+0.184%	$27.3M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.953	+0.323%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.935	+0.184%	$127.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.937	+0.199%	$32.3M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.937	+0.199%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.932	+0.160%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.934	+0.176%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.961	+0.385%	$342K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	+0.602%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.985	+0.574%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.980	+0.532%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	+0.571%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.936	+0.191%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.933	+0.165%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.952	+0.312%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.936	+0.191%	$11K	$63K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	12.911	long leg	$632K	$704K	75x
Extended LINK-USD	+0.0104%	1h	12.929	+0.134%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.935	+0.187%	$542K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.957	+0.354%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.931	+0.153%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0557%	1h	12.942	+0.236%	$6.7M	$8.0M	50x
dYdX LINK-USD	+0.0618%	1h	12.940	+0.221%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0623%	8h	12.952	+0.315%	$20.0M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0630%	1h	12.951	+0.307%	$81.5M	$27.3M	10x	as long as short