Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0264%/8h= +28.9% APRpaid last 24h +0.009%

Price spread now: Kraken Futures against HTX+0.118%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$650.648% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now +0.118%, 7d avg +0.095%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.023% dearer against HTX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.095%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% 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	HTX LINK-USDT	13.186	0.0100	pay 0.0100% / 8h	7h 33m	$648K	$853K	75x
Short	Kraken Futures PF_LINKUSD	13.202	0.0364	get 0.0045% / 1h	33m 17s	$6.9M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now +0.118%Rate

Funding earned: $55.38
Price spread: +0.118% → +0.095%: $2.32
Slippage, 4 orders: −$42.82
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$7.11
Costs to cover: 0.648%
Break-even: 7.9 days

Slippage from HTX: live order book, 40 min ago; Kraken Futures: live order book, 6 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 HTX live order book, 40 min ago	6.76 bp	12.8 bp −$13	24.6 bp −$246	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	3.79 bp	10.7 bp −$11	16.7 bp −$167	44.1 bp −$4,413	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 −0.0091% / S +0.0167%	1h	13.193	+0.047%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.203	+0.128%	$476K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.201	+0.113%	$783K	$210K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.194	+0.061%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.963%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.209	+0.169%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	13.191	+0.036%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.195	+0.068%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.202	+0.116%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.196	+0.074%	$405K	$309K	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	13.203	+0.129%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.207	+0.154%	$277K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.186	+0.001%	$122.6M	$302.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.185	−0.010%	$85.0M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.182	−0.033%	$27.9M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.219	+0.248%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.199	+0.096%	$130.7M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.185	−0.010%	$36.9M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.199	+0.096%	$23.1M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.183	−0.025%	$54.8M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.194	+0.058%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.213	+0.206%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.198	+0.086%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.195	+0.066%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.220	+0.256%	$154K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.201	+0.111%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.193	+0.048%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.219	+0.245%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.194	+0.058%	$5K	$28K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.186	long leg	$648K	$853K	75x
Extended LINK-USD	+0.0104%	1h	13.191	+0.034%	$670K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.196	+0.076%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.204	+0.134%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0200%	1h	13.212	+0.195%	$369K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.196	+0.074%	$5.3M	$16.0M	75x	as long as short
dYdX LINK-USD	+0.0300%	1h	13.203	+0.128%	$350K	$48K	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0364%	1h	13.202	+0.118%	$6.9M	$8.0M	50x
Reya LINKRUSDPERP	+0.0381%	1h	13.195	+0.063%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0440%	8h	13.205	+0.142%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0591%	1h	13.218	+0.240%	$81.8M	$24.9M	10x	as long as short