Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0596%/8h= +65.2% APRpaid last 24h −0.008%

Price spread now: Kraken Futures against edgeX+0.024%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 3 days (all we have)+0.164%+$16 · spread now +0.024%, 7d avg +0.039%

Together, before fees+0.115%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	13.139	0.0100	pay 0.0050% / 4h	1h 58m	$44K	$309K	20x
Short	Kraken Futures PF_LINKUSD	13.142	0.0696	get 0.0087% / 1h	58m 53s	$6.9M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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 edgeXbpFee Kraken FuturesbpOrdersPrice spread, now +0.024%Rate

Funding earned: $125.08
Price spread: +0.024% → +0.039%: −$1.52
Slippage, 4 orders: −$15.04
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $89.51
Costs to cover: 0.340%
Break-even: 2.0 days

Slippage from edgeX: live order book, 24 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 edgeX live order book, 24 min ago	2.28 bp	6.8 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.66 bp	9.8 bp −$10	17.9 bp −$179	44.8 bp −$4,477	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 −0.0090% / S +0.0167%	1h	13.134	−0.034%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.133	−0.041%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.136	−0.020%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.134	−0.033%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0012%	1h	13.116	−0.171%	$347K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.132	−0.049%	$3K	$78K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.623%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.133	−0.044%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.137	−0.012%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.116	−0.175%	$32K	$3K	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	13.128	−0.082%	$399K	$317K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.136	−0.021%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.116	−0.177%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.137	−0.013%	$121.6M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.132	−0.052%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.135	−0.029%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.139	+0.002%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.134	−0.037%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.137	−0.014%	$36.6M	$55.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.134	−0.037%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.131	−0.059%	$54.4M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.136	−0.021%	—	$6.7M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.143	+0.032%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.139	long leg	$44K	$309K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.018%	$589K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.070%	$153K	$666K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.138	−0.006%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.128	−0.078%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.152	+0.104%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.132	−0.052%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.103	−0.276%	$644K	$906K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.132	−0.052%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.136	−0.022%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.150	+0.085%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	13.150	+0.085%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.135	−0.029%	$5.2M	$16.9M	75x	as long as short
Hyperliquid LINK	+0.0261%	1h	13.151	+0.093%	$77.5M	$23.6M	10x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.134	−0.037%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0491%	8h	13.143	+0.032%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0696%	1h	13.142	+0.024%	$6.9M	$8.0M	50x