LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0378%/8h= −41.4% APRnext payment −$0.47 per $10,000 · paid last 24h −0.005%

Price spread now: Arcus against Kraken Futures+0.007%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Kraken Futures Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.007%, 7d avg +0.051%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Arcus is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.004% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.47 per $10,000. 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	Kraken Futures PF_LINKUSD	13.137	0.0478	pay 0.0060% / 1h	22m 14s	$6.9M	$8.2M	50x
Short	Arcus LINK-USD	13.138	0.0100	get 0.0013% / 1h	22m 14s	$184K	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kraken Futures. 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 Kraken FuturesbpFee ArcusbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$79.36
Price spread: +0.007% → +0.051%: −$4.37
Slippage, 4 orders: −$39.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$137.34
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Arcus: live order book, 56 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 Kraken Futures live order book, 2 min ago	3.81 bp	10.6 bp −$11	11.8 bp −$118	44.0 bp −$4,399	doesn't fit
Sell Arcus live order book, 56 min ago	6.07 bp	8.5 bp −$8	17.0 bp −$170	doesn't fit	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	13.129	−0.059%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.127	−0.075%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.132	−0.040%	$725K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.129	−0.061%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.129	−0.061%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.611%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.127	−0.077%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.126	−0.081%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.123	−0.110%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.131	−0.046%	$401K	$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	13.128	−0.069%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.122	−0.113%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.129	−0.058%	$122.0M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.121	−0.122%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.125	−0.092%	$27.6M	$85.5M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	13.138	+0.007%	$184K	$172K	10x
Gate LINK_USDT	+0.0100%	8h	13.127	−0.077%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.127	−0.077%	$36.7M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.131	−0.046%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.123	−0.107%	$54.6M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.126	−0.084%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.138	+0.007%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.118	−0.148%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.144	+0.051%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.118	−0.145%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.133	−0.031%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.125	−0.090%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.148	+0.083%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.127	−0.077%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.088	−0.371%	$644K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.124	−0.097%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.129	−0.058%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.123	−0.107%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.111	−0.198%	$5.2M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0224%	1h	13.136	−0.008%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0287%	1h	13.148	+0.083%	$78.0M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.124	−0.100%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0478%	1h	13.137	long leg	$6.9M	$8.2M	50x
Phemex LINKUSDT	+0.0488%	8h	13.146	+0.068%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0602%	1h	13.121	−0.124%	$348K	$48K	10x	as long as short