Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: HTX against Kraken Futures−0.174%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$680.681% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.174%, 7d avg −0.095%

Together, before fees+0.046%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.079% 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 −0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	12.894	0.0193	pay 0.0024% / 1h	26m 36s	$6.6M	$8.3M	50x
Short	HTX LINK-USDT	12.871	0.0100	get 0.0100% / 8h	1h 26m	$632K	$794K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$19.56
Price spread: −0.174% → −0.095%: −$7.9
Slippage, 4 orders: −$46.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$95.54
Costs to cover: 0.681%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; HTX: live order book, 17 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, 2 min ago	4.27 bp	12.3 bp −$12	14.6 bp −$146	33.6 bp −$3,361	doesn't fit
Sell HTX live order book, 17 min ago	15.40 bp	21.5 bp −$22	177.9 bp −$1,779	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	12.887	−0.056%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0010%	8h	12.882	−0.093%	$94K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.888	−0.045%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.867	−0.205%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.831%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.879	−0.114%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.909	+0.119%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	+0.143%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.883	−0.085%	$350K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.908	+0.111%	$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	12.910	+0.124%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.911	+0.132%	$119.2M	$301.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.908	+0.109%	$83.4M	$73.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.911	+0.132%	$27.0M	$80.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.930	+0.280%	$181K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.906	+0.094%	$124.2M	$15.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.913	+0.148%	$34.4M	$58.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.908	+0.109%	$22.8M	$12.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.910	+0.125%	$54.0M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.913	+0.148%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.867	−0.207%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.875	−0.149%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.871	−0.174%	$579K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.879	−0.116%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.891	−0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.326%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.905	+0.088%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.892	−0.015%	$10K	$61K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.871	−0.174%	$632K	$794K	75x
Extended LINK-USD	+0.0104%	1h	12.910	+0.124%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.893	−0.003%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.869	−0.193%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0128%	1h	12.901	+0.055%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0193%	1h	12.894	long leg	$6.6M	$8.3M	50x
BloFin LINK-USDT	+0.0220%	8h	12.890	−0.031%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0344%	1h	12.917	+0.179%	$80.5M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.865	−0.224%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0518%	1h	12.899	+0.038%	$807K	$266K	50x	as long as short
Phemex LINKUSDT	+0.0580%	8h	12.904	+0.078%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0827%	1h	12.877	−0.133%	$343K	$45K	10x	as long as short