Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.026%

Price spread now: Kraken Futures against KuCoin+0.045%7-day average +0.016% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.045%, 7d avg +0.016%

Together, before fees+0.126%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.030% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.835	0.0100	pay 0.0100% / 8h	2h 25m	$22.7M	$13.1M	75x
Short	Kraken Futures PF_LINKUSD	12.841	0.0279	get 0.0035% / 1h	25m 06s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.045%Rate

Funding earned: $37.56
Price spread: +0.045% → +0.016%: $2.95
Slippage, 4 orders: −$32.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$14.29
Costs to cover: 0.548%
Break-even: 9.7 days

Slippage from KuCoin: live order book, 4 min ago; Kraken Futures: 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 KuCoin live order book, 4 min ago	1.95 bp	13.8 bp −$14	19.1 bp −$191	68.0 bp −$6,799	doesn't fit
Sell Kraken Futures live order book, 4 min ago	1.95 bp	16.4 bp −$16	17.7 bp −$177	48.9 bp −$4,895	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	12.840	+0.036%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.847	+0.092%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.839	+0.035%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.389%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	12.833	−0.016%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.826	−0.072%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.838	+0.024%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.840	+0.037%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.835	+0.004%	$344K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.835	+0.004%	$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	12.834	−0.005%	$273K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.835	0.000%	$118.2M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.831	−0.031%	$82.8M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.832	−0.023%	$27.2M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.854	+0.148%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.830	−0.039%	$123.8M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.831	−0.031%	$32.7M	$57.5M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.835	long leg	$22.7M	$13.1M	75x
Bitget LINKUSDT	+0.0100%	8h	12.828	−0.055%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.830	−0.039%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.839	+0.031%	$335K	$392K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.814	−0.161%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.810	−0.195%	$42K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.838	+0.023%	$581K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.810	−0.195%	$131K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.845	+0.078%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.836	+0.009%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.854	+0.146%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.839	+0.031%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.828	−0.056%	$630K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.832	−0.020%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.840	+0.042%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.844	+0.070%	$914K	$2.8M	50x	as long as short
Hyperliquid LINK	+0.0218%	1h	12.842	+0.057%	$79.9M	$27.7M	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.836	+0.008%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0279%	1h	12.841	+0.045%	$6.6M	$8.3M	50x
Deribit LINK_USDC-PERPETUAL	+0.0311%	1h	12.847	+0.091%	$793K	$241K	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.837	+0.016%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0582%	8h	12.849	+0.109%	$19.8M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0840%	1h	12.832	−0.026%	$342K	$33K	10x	as long as short