LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0202%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h +0.016%

Price spread now: dYdX against Kraken Futures+0.034%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1891.888% of the position

Long on Kraken Futures Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 3 days (all we have)−0.147%−$15 · spread now +0.034%, 7d avg −0.008%

Together, before fees+0.126%+$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.042% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of −0.008%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours. Mind the row above: over the last 7 days funding on this pair paid +0.273%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.243	0.0474	pay 0.0059% / 1h	46m 34s	$7.0M	$8.2M	50x
Short	dYdX LINK-USD	13.247	0.0272	get 0.0034% / 1h	46m 34s	$351K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$42.49
Price spread: +0.034% → −0.008%: $4.16
Slippage, 4 orders: −$168.75
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$227.08
Costs to cover: 1.888%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; dYdX: live order book, 33 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	3.02 bp	11.5 bp −$12	18.1 bp −$181	40.7 bp −$4,066	doesn't fit
Sell dYdX live order book, 33 min ago	78.47 bp	83.5 bp −$83	111.1 bp −$1,111	126.8 bp −$12.7K	191.1 bp −$95.5K

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	13.228	−0.112%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.238	−0.036%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.233	−0.068%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.229	−0.105%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.243	+0.002%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.363%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.227	−0.118%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.249	+0.052%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.252	+0.073%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.254	+0.084%	$406K	$311K	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	13.252	+0.071%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.253	+0.082%	$278K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.253	+0.079%	$123.4M	$303.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.250	+0.056%	$85.5M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.253	+0.079%	$28.0M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.267	+0.184%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.248	+0.041%	$131.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.255	+0.094%	$36.8M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.252	+0.071%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.256	+0.101%	$55.2M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.254	+0.086%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.238	−0.036%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.240	−0.019%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.236	−0.052%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.251	+0.064%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.234	−0.065%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.227	−0.115%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.242	−0.007%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.234	−0.065%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.224	−0.142%	$651K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.253	+0.076%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.234	−0.065%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.233	−0.072%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.227	−0.118%	$5.3M	$17.3M	75x	as long as short
dYdX LINK-USDshort	+0.0272%	1h	13.247	+0.034%	$351K	$48K	10x
Hyperliquid LINK	+0.0298%	1h	13.267	+0.184%	$78.5M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0357%	1h	13.250	+0.056%	$366K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.227	−0.115%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0464%	8h	13.251	+0.064%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0474%	1h	13.243	long leg	$7.0M	$8.2M	50x