Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.034%

Price spread now: OKX against Kraken Futures−0.031%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now −0.031%, 7d avg −0.030%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$5 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	12.967	0.0276	pay 0.0035% / 1h	5m 06s	$6.7M	$8.3M	50x
Short	OKX LINK-USDT-SWAP	12.963	0.0100	get 0.0100% / 8h	2h 05m	$27.0M	$81.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$36.99
Price spread: −0.031% → −0.030%: −$0.02
Slippage, 4 orders: −$16.76
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$73.77
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; OKX: 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	4.24 bp	12.4 bp −$12	19.1 bp −$191	50.1 bp −$5,007	doesn't fit
Sell OKX live order book, 4 min ago	0.39 bp	6.9 bp −$7	13.8 bp −$138	32.9 bp −$3,294	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	12.963	−0.030%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.975	+0.065%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.963	−0.034%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0026%	8h	12.958	−0.069%	$96K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.372%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.985	+0.135%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.965	−0.015%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.968	+0.006%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.962	−0.038%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.968	+0.006%	$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	12.973	+0.048%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.966	−0.007%	$119.6M	$302.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.960	−0.054%	$83.6M	$73.6M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.963	−0.031%	$27.0M	$81.5M	50x
Arcus LINK-USD	+0.0100%	1h	12.984	+0.131%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	−0.046%	$124.7M	$15.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.965	−0.015%	$33.2M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.966	−0.007%	$22.9M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.961	−0.046%	$54.2M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.964	−0.023%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	+0.033%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.964	−0.024%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.972	+0.036%	$581K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.967	0.000%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.968	+0.008%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.962	−0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.982	+0.114%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.963	−0.031%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.956	−0.088%	$635K	$785K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.956	−0.082%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.964	−0.019%	$544K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.983	+0.124%	$937K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0136%	1h	12.973	+0.046%	$338K	$390K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.967	+0.003%	$808K	$252K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.963	−0.031%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0247%	1h	12.979	+0.093%	$80.9M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0276%	1h	12.967	long leg	$6.7M	$8.3M	50x
Reya LINKRUSDPERP	+0.0396%	1h	12.960	−0.050%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0570%	8h	12.981	+0.108%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0584%	1h	12.973	+0.049%	$346K	$33K	10x	as long as short