Funding arb · Price arb /

LINK

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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 BingX−0.042%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

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

costs, in and out, $10k−$460.459% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.042% cheaper against BingX than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.032% in total) that is about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDC	12.847	0.0100	pay 0.0100% / 8h	2h 33m	—	$6.6M	—
Short	Kraken Futures PF_LINKUSD	12.842	0.0279	get 0.0035% / 1h	33m 04s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now −0.042%Rate

Funding earned: $37.55
Price spread: −0.042% → 0.000%: −$4.17
Slippage, 4 orders: −$25.87
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$12.49
Costs to cover: 0.459%
Break-even: 9.3 days

Slippage from BingX: live order book, 4 min ago; Kraken Futures: live order book, 1 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 BingX live order book, 4 min ago	1.16 bp	10.5 bp −$10	22.2 bp −$222	83.4 bp −$8,337	450.9 bp −$225.5K
Sell Kraken Futures live order book, 1 min ago	2.73 bp	11.7 bp −$12	14.8 bp −$148	46.5 bp −$4,647	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	−0.057%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.845	−0.019%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.838	−0.072%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.479%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	12.830	−0.132%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.887	+0.315%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.838	−0.068%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.833	−0.109%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.833	−0.105%	$342K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.845	−0.018%	$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	12.839	−0.059%	$273K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.846	−0.008%	$118.5M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.846	−0.008%	$82.8M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.845	−0.016%	$27.1M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.859	+0.093%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.839	−0.062%	$123.7M	$14.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.847	0.000%	$33.0M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.844	−0.023%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.846	−0.008%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDClong	+0.0100%	8h	12.847	long leg	—	$6.6M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.852	+0.039%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	+0.199%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.894	+0.365%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.880	+0.257%	$589K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.899	+0.405%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.844	−0.023%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.834	−0.099%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.852	+0.040%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.838	−0.070%	$10K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.825	−0.172%	$629K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.834	−0.103%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.837	−0.077%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.866	+0.148%	$915K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0186%	1h	12.845	−0.016%	$793K	$239K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.843	−0.031%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0227%	1h	12.855	+0.062%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0279%	1h	12.842	−0.042%	$6.6M	$8.3M	50x
Reya LINKRUSDPERP	+0.0395%	1h	12.838	−0.073%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0594%	8h	12.854	+0.054%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0826%	1h	12.837	−0.074%	$342K	$33K	10x	as long as short