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: Coinbase International against Kraken Futures−0.113%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Kraken Futures Short on Coinbase International

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)+0.087%+$9 · spread now −0.113%, 7d avg +0.005%

Together, before fees+0.005%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.118% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	12.884	0.0193	pay 0.0024% / 1h	30m 11s	$6.6M	$8.3M	50x
Short	Coinbase International LINK-PERP-INTX	12.869	0.0120	get 0.0015% / 1h	30m 11s	$933K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$15.39
Price spread: −0.113% → +0.005%: −$11.78
Slippage, 4 orders: −$28.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$75.3
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago	4.28 bp	11.2 bp −$11	11.7 bp −$117	36.0 bp −$3,604	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.72 bp	12.7 bp −$13	17.3 bp −$173	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 −0.0088% / S +0.0166%	1h	12.873	−0.084%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0008%	8h	12.871	−0.097%	$94K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.880	−0.028%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.873	−0.083%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.753%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.855	−0.225%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.879	−0.034%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.874	−0.071%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.871	−0.094%	$350K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.882	−0.011%	$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	12.874	−0.074%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.882	−0.012%	$118.9M	$301.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.877	−0.051%	$83.3M	$73.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.879	−0.035%	$26.9M	$80.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.889	+0.042%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.869	−0.113%	$123.8M	$15.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.882	−0.012%	$34.3M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.884	+0.003%	$22.7M	$12.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.877	−0.051%	$53.9M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.877	−0.051%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.867	−0.127%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.858	−0.198%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.869	−0.114%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.863	−0.160%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.880	−0.028%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.245%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.895	+0.087%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.880	−0.028%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.820	−0.496%	$629K	$783K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.874	−0.071%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.883	−0.002%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	12.869	−0.113%	$933K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0121%	1h	12.882	−0.012%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0193%	1h	12.884	long leg	$6.6M	$8.3M	50x
BloFin LINK-USDT	+0.0220%	8h	12.874	−0.074%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0337%	1h	12.889	+0.038%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.874	−0.072%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0488%	1h	12.887	+0.026%	$806K	$266K	50x	as long as short
Phemex LINKUSDT	+0.0585%	8h	12.898	+0.112%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0900%	1h	12.873	−0.084%	$343K	$33K	10x	as long as short