LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h −0.009%

Price spread now: Kraken Futures against dYdX+0.001%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1251.251% of the position

Long on dYdX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now +0.001%, 7d avg +0.010%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.959	0.0408	pay 0.0051% / 1h	15m 13s	$343K	$30K	10x
Short	Kraken Futures PF_LINKUSD	12.959	0.0394	get 0.0049% / 1h	15m 13s	$6.7M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against dYdX. 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 dYdXbpFee Kraken FuturesbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$2.86
Price spread: +0.001% → +0.010%: −$0.94
Slippage, 4 orders: −$105.14
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$128.93
Costs to cover: 1.251%
Break-even: never at this rate

Slippage from dYdX: live order book, 44 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 dYdX live order book, 44 min ago	46.47 bp	51.5 bp −$51	51.5 bp −$515	180.5 bp −$18.0K	598.1 bp −$299.0K
Sell Kraken Futures live order book, 4 min ago	3.48 bp	11.2 bp −$11	14.3 bp −$143	44.1 bp −$4,406	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	12.958	−0.007%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.961	+0.018%	$520K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.959	−0.001%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.312%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0055%	8h	12.956	−0.021%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.956	−0.022%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.970	+0.087%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.944	−0.117%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	+0.007%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.958	−0.006%	$392K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.961	+0.018%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.960	+0.011%	$275K	$177K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.956	−0.018%	$119.9M	$297.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.952	−0.052%	$83.6M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.955	−0.029%	$27.4M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.978	+0.149%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.962	+0.025%	$128.2M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.957	−0.013%	$32.8M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.961	+0.018%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.958	−0.006%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.957	−0.013%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.960	+0.010%	$339K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.949	−0.073%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.954	−0.039%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	+0.022%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.965	+0.048%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.970	+0.087%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.956	−0.023%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.980	+0.164%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.956	−0.021%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.940	−0.144%	$635K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.953	−0.044%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.962	+0.026%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0198%	1h	12.964	+0.038%	$779K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.962	+0.025%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0375%	1h	12.981	+0.172%	$81.3M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.953	−0.040%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0394%	1h	12.959	+0.001%	$6.7M	$8.1M	50x
dYdX LINK-USDlong	+0.0408%	1h	12.959	long leg	$343K	$30K	10x
Phemex LINKUSDT	+0.0532%	8h	12.972	+0.102%	$20.0M	$11.4M	50x	as long as short