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: KuCoin against Kraken Futures−0.022%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.055%−$5 · spread now −0.022%, 7d avg −0.016%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	12.892	0.0193	pay 0.0024% / 1h	51m 52s	$6.6M	$8.3M	50x
Short	KuCoin LINKUSDTM	12.889	0.0100	get 0.0100% / 8h	1h 51m	$22.7M	$12.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$19.57
Price spread: −0.022% → −0.016%: −$0.67
Slippage, 4 orders: −$27.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$69.26
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; KuCoin: 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, 2 min ago	0.39 bp	13.2 bp −$13	18.9 bp −$189	42.8 bp −$4,276	doesn't fit
Sell KuCoin live order book, 7 min ago	1.16 bp	11.9 bp −$12	27.0 bp −$270	64.7 bp −$6,465	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	12.887	−0.038%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.898	+0.048%	$512K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.887	−0.039%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0012%	8h	12.881	−0.085%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.816%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.916	+0.191%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.889	−0.021%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.891	−0.005%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.890	−0.011%	$349K	$339K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.890	−0.016%	$1.2M	$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	12.894	+0.017%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.885	−0.053%	$118.8M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.881	−0.085%	$83.1M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.884	−0.061%	$26.9M	$81.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.913	+0.164%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.882	−0.077%	$123.9M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.887	−0.038%	$33.3M	$57.6M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.889	−0.022%	$22.7M	$12.9M	75x
Bitget LINKUSDT	+0.0100%	8h	12.884	−0.061%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.885	−0.053%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.901	+0.073%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.903	+0.090%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.903	+0.086%	$585K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.924	+0.249%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.889	−0.022%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.888	−0.028%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.899	+0.051%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.889	−0.022%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.878	−0.107%	$631K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.883	−0.073%	$629K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.890	−0.018%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.914	+0.171%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0138%	1h	12.894	+0.016%	$336K	$388K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0192%	1h	12.895	+0.024%	$806K	$259K	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0193%	1h	12.892	long leg	$6.6M	$8.3M	50x
BloFin LINK-USDT	+0.0220%	8h	12.891	−0.007%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0299%	1h	12.903	+0.086%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.882	−0.080%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0572%	8h	12.905	+0.102%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0970%	1h	12.887	−0.039%	$343K	$33K	10x	as long as short