LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0007%/8h= +0.7% APRnext payment +$0.01 per $10,000 · paid last 24h +0.047%

Price spread now: Kraken Futures against Deribit−0.025%7-day average +0.013% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.025%, 7d avg +0.013%

Together, before fees+0.275%+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kraken Futures is 0.038% cheaper against Deribit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	12.851	0.0272	pay 0.0034% / 1h	29m 56s	$793K	$241K	50x
Short	Kraken Futures PF_LINKUSD	12.848	0.0279	get 0.0035% / 1h	29m 56s	$6.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now −0.025%Rate

Funding earned: $1.41
Price spread: −0.025% → +0.013%: −$3.84
Slippage, 4 orders: −$24.73
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$44.16
Costs to cover: 0.417%
Break-even: 226.8 days

Slippage from Deribit: live order book, 19 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 Deribit live order book, 19 min ago	4.25 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 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	12.846	−0.041%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.838	−0.101%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.844	−0.055%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.508%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0046%	8h	12.838	−0.100%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.854	+0.024%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.847	−0.027%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.837	−0.109%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.837	−0.103%	$344K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.849	−0.014%	$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	12.840	−0.086%	$273K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.849	−0.016%	$118.3M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.846	−0.037%	$82.8M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.845	−0.045%	$27.2M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.855	+0.033%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.842	−0.068%	$123.8M	$14.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.850	−0.006%	$33.1M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.849	−0.014%	$22.6M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.845	−0.045%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.847	−0.030%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.858	+0.056%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.825	−0.205%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.839	−0.091%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	−0.091%	$581K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.838	−0.100%	$131K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.852	+0.009%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.840	−0.083%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.859	+0.062%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.845	−0.045%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.816	−0.271%	$629K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.844	−0.057%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.844	−0.052%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.835	−0.123%	$913K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.831	−0.154%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0225%	1h	12.863	+0.095%	$80.1M	$27.6M	10x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0272%	1h	12.851	long leg	$793K	$241K	50x
Kraken Futures PF_LINKUSDshort	+0.0279%	1h	12.848	−0.025%	$6.6M	$8.3M	50x
Reya LINKRUSDPERP	+0.0395%	1h	12.845	−0.044%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0582%	8h	12.855	+0.033%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0880%	1h	12.837	−0.107%	$342K	$33K	10x	as long as short