Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0592%/8h= −64.9% APRpaid last 24h −0.007%

Price spread now: Gate against Kraken Futures−0.184%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.184%, 7d avg −0.025%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Gate is 0.160% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.055% in total (about -2.8% 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	Kraken Futures PF_LINKUSD	13.201	0.0692	pay 0.0087% / 1h	20m 33s	$7.0M	$8.1M	50x
Short	Gate LINK_USDT	13.177	0.0100	get 0.0100% / 8h	1h 20m	$130.7M	$12.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.184%Rate

Funding earned: −$124.42
Price spread: −0.184% → −0.025%: −$15.97
Slippage, 4 orders: −$25.84
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$191.24
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	3.04 bp	11.4 bp −$11	15.3 bp −$153	42.6 bp −$4,263	doesn't fit
Sell Gate live order book, 3 min ago	1.14 bp	16.4 bp −$16	20.7 bp −$207	34.2 bp −$3,416	77.8 bp −$38.9K

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	13.194	−0.058%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.173	−0.214%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.205	+0.025%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.199	−0.016%	$721K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.194	−0.053%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.070%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.193	−0.063%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.193	−0.063%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.177	−0.185%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.173	−0.217%	$32K	$3K	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	13.192	−0.071%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.189	−0.094%	$77.8M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.179	−0.166%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.175	−0.200%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.169	−0.245%	$122.3M	$303.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.169	−0.245%	$85.0M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.170	−0.238%	$27.7M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.191	−0.078%	$185K	$172K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.177	−0.184%	$130.7M	$12.7M	75x
MEXC LINK_USDT	+0.0100%	8h	13.173	−0.215%	$36.3M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.185	−0.124%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.174	−0.207%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.175	−0.200%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.625%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.593%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.508%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.518%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.194	−0.056%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.192	−0.072%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.209	+0.060%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.195	−0.048%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.169	−0.241%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.170	−0.234%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.198	−0.026%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.200	−0.010%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0214%	1h	13.189	−0.094%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.193	−0.063%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.190	−0.087%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0466%	8h	13.210	+0.065%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0692%	1h	13.201	long leg	$7.0M	$8.1M	50x