Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.025%

Price spread now: Kraken Futures against SunX−0.100%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1291.293% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.100%, 7d avg −0.084%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.084%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.909	0.0100	pay 0.0100% / 8h	7h 24m	$33K	$1.4M	30x
Short	Kraken Futures PF_LINKUSD	12.896	0.0049	get 0.0006% / 1h	24m 15s	$6.4M	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$10.68
Price spread: −0.100% → −0.084%: −$1.63
Slippage, 4 orders: −$111.33
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$141.64
Costs to cover: 1.293%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Kraken Futures: live order book, 5 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 SunX live order book, 10 min ago	48.66 bp	53.0 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	0.39 bp	11.0 bp −$11	15.2 bp −$152	34.0 bp −$3,404	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
Orderly PERP_LINK_USDC	−0.0121%	8h	12.891	−0.139%	$90K	$932K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.895	−0.108%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.888	−0.165%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.867	−0.321%	$106K	—	150x	as long as short
Bybit LINKUSDT	+0.0033%	8h	12.894	−0.116%	$83.4M	$72.4M	75x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.943%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0049%	1h	12.896	−0.100%	$6.4M	$8.4M	50x
Phoenix LINK	+0.0087%	1h	12.845	−0.498%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.895	−0.109%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.879	−0.230%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.877	−0.252%	$347K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.892	−0.132%	$80.5M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.890	−0.146%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.875	−0.263%	$274K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.896	−0.101%	$119.0M	$294.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.897	−0.093%	$27.1M	$79.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.895	−0.108%	$180K	$100K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.888	−0.163%	$133.8M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.887	−0.170%	$35.3M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.891	−0.139%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.892	−0.132%	$53.8M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.894	−0.116%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.874	−0.271%	$334K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.573%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.843	−0.515%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.845	−0.498%	$587K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.850	−0.457%	$131K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.893	−0.124%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−0.672%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.909	long leg	$33K	$1.4M	30x
SoDEX LINK-USD	+0.0100%	1h	12.894	−0.116%	$10K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.865	−0.344%	$629K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.891	−0.139%	$614K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.897	−0.089%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.894	−0.116%	$927K	$3.2M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0215%	1h	12.905	−0.029%	$807K	$266K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.870	−0.302%	$5.3M	$15.8M	75x	as long as short
Phemex LINKUSDT	+0.0373%	8h	12.909	0.000%	$19.9M	$11.4M	50x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.890	−0.148%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.1327%	1h	12.868	−0.319%	$346K	$49K	10x	as long as short