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 +0.032%

Price spread now: Kraken Futures against MEXC+0.031%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.031%, 7d avg +0.013%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, 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	MEXC LINK_USDT	12.963	0.0100	pay 0.0100% / 8h	2h 04m	$33.1M	$58.1M	300x
Short	Kraken Futures PF_LINKUSD	12.967	0.0276	get 0.0035% / 1h	4m 38s	$6.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now +0.031%Rate

Funding earned: $36.99
Price spread: +0.031% → +0.013%: $1.72
Slippage, 4 orders: −$14.45
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $14.26
Costs to cover: 0.244%
Break-even: 4.3 days

Slippage from MEXC: 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 MEXC live order book, 4 min ago	0.38 bp	0.6 bp −$1	4.3 bp −$43	26.9 bp −$2,690	49.2 bp −$24.6K
Sell Kraken Futures live order book, 4 min ago	4.24 bp	10.9 bp −$11	12.3 bp −$123	47.8 bp −$4,776	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	0.000%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.975	+0.096%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.963	−0.003%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0026%	8h	12.958	−0.039%	$96K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.343%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.985	+0.166%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.962	−0.007%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.961	−0.016%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.963	+0.004%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.967	+0.028%	$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	12.963	+0.003%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.967	+0.028%	$119.6M	$302.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.959	−0.031%	$83.6M	$73.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.963	0.000%	$27.0M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.982	+0.147%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.959	−0.031%	$124.7M	$15.5M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.963	long leg	$33.1M	$58.1M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.965	+0.015%	$22.9M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.960	−0.023%	$54.2M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.962	−0.008%	—	$6.7M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	+0.063%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.964	+0.006%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.972	+0.067%	$581K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.967	+0.031%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.968	+0.039%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.962	−0.007%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.982	+0.144%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.963	0.000%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.956	−0.057%	$635K	$785K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.958	−0.036%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.964	+0.012%	$544K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.983	+0.154%	$937K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0136%	1h	12.973	+0.077%	$338K	$390K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.967	+0.033%	$808K	$252K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.963	0.000%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0246%	1h	12.977	+0.108%	$80.9M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0276%	1h	12.967	+0.031%	$6.7M	$8.3M	50x
Reya LINKRUSDPERP	+0.0396%	1h	12.960	−0.019%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0570%	8h	12.981	+0.139%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0573%	1h	12.966	+0.026%	$345K	$33K	10x	as long as short