LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0051%/8h= +5.6% APRnext payment +$0.06 per $10,000 · paid last 24h −0.025%

Price spread now: Derive against Kraken Futures−0.006%63s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 63 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	12.875	0.0049	pay 0.0006% / 1h	34m 42s	$6.4M	$8.4M	50x
Short	Derive LINK-PERP	12.874	0.0100	get 0.0013% / 1h	34m 42s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.006%Rate

Funding earned: $10.66
Price spread: −0.006% → 0.000%: −$0.6
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$5.94
Costs to cover: 0.160%
Break-even: 10.9 days

Slippage unknown: Kraken Futures: live order book, 4 min ago; Derive: no order-book sample. Net counts fees only.

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, 4 min ago	1.55 bp	8.1 bp −$8	13.3 bp −$133	40.1 bp −$4,007	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Orderly PERP_LINK_USDC	−0.0114%	8h	12.868	−0.056%	$90K	$976K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.873	−0.017%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.877	+0.014%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.874	−0.006%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.691%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0049%	1h	12.875	long leg	$6.4M	$8.4M	50x
Phoenix LINK	+0.0087%	1h	12.886	+0.087%	$3K	$85K	10x	as long as short
Bybit LINKUSDT	+0.0087%	8h	12.863	−0.095%	$83.3M	$72.9M	75x	as long as short
Lighter LINK	+0.0096%	1h	12.873	−0.019%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.865	−0.078%	$31K	$2K	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	12.877	+0.017%	$349K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.878	+0.021%	$80.4M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.875	−0.001%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.869	−0.052%	$274K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.867	−0.064%	$118.8M	$297.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.864	−0.088%	$27.0M	$79.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.889	+0.107%	$180K	$98K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.873	−0.018%	$133.5M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.872	−0.025%	$35.6M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.872	−0.025%	$22.8M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.873	−0.018%	$53.7M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.871	−0.033%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.880	+0.037%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.870	−0.038%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	+0.066%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.879	+0.027%	$579K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.895	+0.153%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.883	+0.060%	$82K	$70K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	12.874	−0.006%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	12.888	+0.100%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.871	−0.033%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.860	−0.116%	$628K	$717K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.866	−0.075%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.873	−0.018%	$540K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0107%	1h	12.877	+0.012%	$805K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.924	+0.378%	$930K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.871	−0.033%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.866	−0.072%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0502%	8h	12.889	+0.107%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.1400%	1h	12.874	−0.007%	$345K	$48K	10x	as long as short