Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h +0.021%

Price spread now: BloFin against Kraken Futures−0.021%57s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.365% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.214%+$21 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.021%, 7d avg −0.011%

Together, before fees+0.195%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.214%, so the current rate has only just turned against you. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.153	0.0365	pay 0.0046% / 1h	4m 03s	$6.9M	$8.0M	50x
Short	BloFin LINK-USDT	13.150	0.0220	get 0.0220% / 8h	7h 04m	$5.2M	$15.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$30.47
Price spread: −0.021% → −0.011%: −$1
Slippage, 4 orders: −$14.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$67.97
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; BloFin: 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 Kraken Futures live order book, 5 min ago	1.52 bp	14.0 bp −$14	19.9 bp −$199	52.0 bp −$5,195	doesn't fit
Sell BloFin live order book, 5 min ago	0.38 bp	6.5 bp −$6	10.8 bp −$108	25.3 bp −$2,532	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	13.161	+0.060%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.163	+0.078%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.161	+0.060%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.723%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.181	+0.217%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0046%	1h	13.159	+0.050%	$781K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.154	+0.010%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.150	−0.024%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.220	+0.514%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.159	+0.050%	$403K	$307K	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	13.153	+0.005%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.170	+0.129%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.138	−0.112%	$121.9M	$297.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.134	−0.142%	$84.6M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.124	−0.218%	$27.5M	$83.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.179	+0.200%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.148	−0.036%	$130.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.139	−0.104%	$36.3M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.159	+0.048%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.136	−0.127%	$54.5M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.136	−0.127%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.145	−0.058%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.176	+0.179%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+0.238%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.199	+0.352%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.166	+0.101%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.154	+0.007%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.164	+0.086%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.150	−0.021%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.158	+0.037%	$648K	$866K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.148	−0.039%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.159	+0.044%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.159	+0.048%	$998K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0155%	1h	13.149	−0.028%	$364K	$361K	15x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	13.150	−0.021%	$5.2M	$15.5M	75x
Kraken Futures PF_LINKUSDlong	+0.0365%	1h	13.153	long leg	$6.9M	$8.0M	50x
Reya LINKRUSDPERP	+0.0382%	1h	13.159	+0.047%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0441%	1h	13.171	+0.142%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0517%	8h	13.159	+0.048%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0541%	1h	13.155	+0.017%	$81.2M	$25.0M	10x	as long as short