Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0143%/8h= −15.7% APRpaid last 24h −0.025%

Price spread now: edgeX against Kraken Futures−0.110%7-day average −0.038% · 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−$45as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Kraken Futures Short on edgeX

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)−0.027%−$3 · spread now −0.110%, 7d avg −0.038%

Together, before fees−0.035%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and edgeX is 0.073% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.016	0.0243	pay 0.0030% / 1h	45m 35s	$6.7M	$8.1M	50x
Short	edgeX LINKUSDC	13.002	0.0100	get 0.0050% / 4h	3h 45m	$43K	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$30.05
Price spread: −0.110% → −0.038%: −$7.25
Slippage, 4 orders: −$18.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$75.02
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; edgeX: live order book, 7 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	3.84 bp	12.4 bp −$12	16.6 bp −$166	42.8 bp −$4,281	doesn't fit
Sell edgeX live order book, 7 min ago	2.30 bp	6.8 bp −$7	10.1 bp −$101	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 −0.0089% / S +0.0166%	1h	13.013	−0.029%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.012	−0.037%	$499K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.014	−0.023%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.736%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.010	−0.050%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.000	−0.124%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.004	−0.095%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.003	−0.100%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.012	−0.030%	$393K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.008	−0.062%	$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	13.006	−0.078%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.005	−0.089%	$121.0M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.999	−0.134%	$84.1M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.004	−0.096%	$27.5M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.025	+0.066%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.007	−0.073%	$128.9M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	−0.088%	$32.9M	$56.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.008	−0.065%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.000	−0.126%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.003	−0.103%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.008	−0.063%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	13.002	−0.110%	$43K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.993	−0.182%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.006	−0.080%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.010	−0.050%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.011	−0.041%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.027	+0.077%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.013	−0.027%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.983	−0.253%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.998	−0.143%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.015	−0.007%	$546K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.997	−0.149%	$925K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0130%	1h	13.020	+0.027%	$342K	$391K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.988	−0.219%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0226%	1h	13.019	+0.017%	$785K	$205K	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0243%	1h	13.016	long leg	$6.7M	$8.1M	50x
dYdX LINK-USD	+0.0309%	1h	13.005	−0.086%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.002	−0.107%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0400%	1h	13.020	+0.027%	$81.5M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0522%	8h	13.025	+0.066%	$20.1M	$11.4M	50x	as long as short