Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h −0.003%

Price spread now: Kraken Futures against BloFin+0.030%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.030%, 7d avg +0.018%

Together, before fees−0.162%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.892	0.0220	pay 0.0220% / 8h	1h 45m	$5.2M	$15.8M	75x
Short	Kraken Futures PF_LINKUSD	12.896	0.0193	get 0.0024% / 1h	45m 12s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$5.65
Price spread: +0.030% → +0.018%: $1.26
Slippage, 4 orders: −$16.78
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$43.16
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from BloFin: 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 BloFin live order book, 4 min ago	1.94 bp	7.9 bp −$8	10.6 bp −$106	25.0 bp −$2,501	65.2 bp −$32.6K
Sell Kraken Futures live order book, 4 min ago	2.71 bp	10.6 bp −$11	14.2 bp −$142	38.8 bp −$3,877	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	12.892	−0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.879	−0.099%	$511K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.892	−0.003%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0005%	8h	12.882	−0.078%	$94K	$1.1M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.816%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.874	−0.140%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.891	−0.005%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.854	−0.295%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.881	−0.081%	$349K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.890	−0.016%	$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	12.859	−0.257%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.891	−0.006%	$118.9M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.887	−0.039%	$83.3M	$74.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.889	−0.023%	$26.9M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.880	−0.093%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.880	−0.093%	$123.9M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.889	−0.023%	$34.3M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.883	−0.070%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.889	−0.023%	$53.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.892	0.000%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.854	−0.293%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.877	−0.116%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.870	−0.170%	$578K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.881	−0.085%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.894	+0.016%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.890	−0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.903	+0.085%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.890	−0.016%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.867	−0.190%	$631K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.885	−0.057%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.894	+0.016%	$541K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0113%	1h	12.870	−0.171%	$335K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.898	+0.047%	$935K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0193%	1h	12.896	+0.030%	$6.6M	$8.3M	50x
BloFin LINK-USDTlong	+0.0220%	8h	12.892	long leg	$5.2M	$15.8M	75x
Deribit LINK_USDC-PERPETUAL	+0.0293%	1h	12.898	+0.048%	$806K	$261K	50x	as long as short
Hyperliquid LINK	+0.0326%	1h	12.901	+0.070%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.886	−0.050%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0577%	8h	12.901	+0.070%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0843%	1h	12.864	−0.218%	$343K	$33K	10x	as long as short