Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0405%/8h= −44.3% APRpaid last 24h +0.008%

Price spread now: Aster against Kraken Futures−0.060%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now −0.060%, 7d avg +0.023%

Together, before fees+0.067%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Aster is 0.083% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% 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	Kraken Futures PF_LINKUSD	13.136	0.0505	pay 0.0063% / 1h	5m 54s	$6.9M	$7.9M	50x
Short	Aster LINKUSDT	13.128	0.0100	get 0.0100% / 8h	2h 05m	$1.6M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$84.95
Price spread: −0.060% → +0.023%: −$8.34
Slippage, 4 orders: −$24.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$135.89
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Aster: 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 Kraken Futures live order book, 3 min ago	2.66 bp	10.6 bp −$11	12.9 bp −$129	46.0 bp −$4,604	doesn't fit
Sell Aster live order book, 3 min ago	2.28 bp	7.6 bp −$8	16.6 bp −$166	doesn't fit	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	13.121	−0.116%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.132	−0.033%	$469K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.130	−0.052%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.122	−0.109%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0013%	1h	13.124	−0.096%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.163	+0.206%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.605%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.123	−0.101%	$133K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.132	−0.036%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.120	−0.126%	$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	13.121	−0.113%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.137	+0.005%	$77.4M	$23.6M	10x	as long as short
Aster LINKUSDTshort	+0.0100%	8h	13.128	−0.060%	$1.6M	$2.8M	50x
Pacifica LINK	+0.0100%	1h	13.124	−0.092%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.123	−0.098%	$121.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.123	−0.101%	$84.5M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.124	−0.093%	$27.6M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.140	+0.028%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.121	−0.116%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.125	−0.086%	$36.6M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.130	−0.048%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.122	−0.109%	$54.3M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.124	−0.093%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.155	+0.144%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.147	+0.080%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.066%	$596K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.089%	$153K	$666K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.124	−0.093%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.122	−0.105%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.139	+0.018%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.127	−0.071%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.116%	$645K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.120	−0.121%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.129	−0.052%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.148	+0.089%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0110%	1h	13.135	−0.010%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.127	−0.071%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.120	−0.120%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0475%	8h	13.140	+0.028%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0505%	1h	13.136	long leg	$6.9M	$7.9M	50x