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Price arb /

LINK

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Spread before costs (cost unknown: a leg has no order-book sample)−0.098%
7d average—if it closes, per $10,000$10funding while held, a day+$15.94
Long on Kraken FuturesShort on Reya
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_LINKUSD12.845−0.0168get 0.0021% / 1h55m 12s$6.0M$6.5M50x
ShortReya LINKRUSDPERP12.8320.0364get 0.0045% / 1h55m 12s$4K$40020x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$9.76
Funding while held
$15.94
Slippage, 4 orders
no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Reya: 3 bp × 2 orders
−$6
Net
−$9.82
Spread needed to break even
0.160%
Slippage unknown: Kraken Futures: live order book, 5 min ago; Reya: no order-book sample. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0531%
Per $10,000 a day
+$15.94
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 5 min ago2.73 bp9.0 bp −$913.6 bp −$13643.2 bp −$4,323doesn't fit
Sell Reya no order-book sample—————
Reya: 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 price on every exchange

against the cheapest. Click to use as the short leg.
Injective12.400cheapestVariational Omni12.797+3.204%Nado12.800+3.226%Coinbase International12.801+3.234%Phoenix12.804+3.258%Kalshi12.805+3.265%HTX12.807+3.280%Backpack12.807+3.282%edgeX12.814+3.335%Pacifica12.819+3.376%ApeX Omni12.820+3.387%dYdX12.825+3.427%Paradex12.829+3.458%Gate12.830+3.468%
Reya12.832+3.488%
SunX12.834+3.498%BingX12.834+3.500%BloFin12.834+3.500%Bybit12.835+3.508%MEXC12.835+3.508%Aster12.835+3.512%KuCoin12.836+3.516%Bitget12.836+3.516%Extended12.837+3.521%OKX12.837+3.524%Polymarket Perps12.837+3.524%SoDEX12.837+3.524%Derive12.839+3.542%gTrade (Gains Network)12.840+3.550%GMX12.841+3.555%Binance12.841+3.555%Hyperliquid12.842+3.565%Arcus12.843+3.573%Lighter12.844+3.579%Orderly12.844+3.581%Aevo12.845+3.585%
Kraken Futures12.845+3.589%
Deribit12.848+3.610%Phemex12.849+3.621%

LINK on 39 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective LINK/USDC PERP−3.465%+0.0033%1h$4K$48K12xas long as short
Variational Omni LINK−0.371%−0.0124%8h$3.2M$1.2M—as long as short
Nado LINK-PERP−0.350%+0.0100%1h$423K$284K10xas long as short
Coinbase International LINK-PERP-INTX−0.343%+0.0008%1h$986K$2.7M50xas long as short
Phoenix LINK−0.319%−0.0012%1h$6K$68K10xas long as short
Kalshi KXLINKPERP−0.313%0.0000%8h$465K$2.3M3.7xas long as short
HTX LINK-USDT−0.298%+0.0100%8h$620K$925K75xas long as short
Backpack LINK_USDC_PERP−0.296%+0.0100%1h$348K$373K15xas long as short
edgeX LINKUSDC−0.245%+0.0100%4h$42K$306K20xas long as short
Pacifica LINK−0.206%+0.0100%1h$270K$166K10xas long as short
Show all 39 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
ApeX Omni LINKUSDT−0.195%+0.0100%1h$129K$650K50xas long as short
dYdX LINK-USD−0.156%0.0000%1h$340K$60K10xas long as short
Paradex LINK-USD-PERP−0.126%+0.0084%8h$31K$2K20xas long as short
Gate LINK_USDT−0.117%+0.0054%8h$128.9M$12.0M75xas long as short
Reya LINKRUSDPERPshort−0.098%+0.0364%1h$4K$40020x
SunX LINK-USDT−0.088%+0.0100%8h$33K$1.5M30xas long as short
BingX LINK-USDT−0.086%+0.0086%8h—$24.6M—as long as short
BloFin LINK-USDT−0.086%+0.0153%8h$5.1M$13.8M75xas long as short
Bybit LINKUSDT−0.078%−0.0198%8h$82.0M$64.0M75xas long as short
MEXC LINK_USDT−0.078%+0.0039%8h$33.2M$55.2M300xas long as short
Aster LINKUSDT−0.074%+0.0100%8h$1.3M$2.4M50xas long as short
KuCoin LINKUSDTM−0.070%+0.0100%8h$21.3M$16.6M75xas long as short
Bitget LINKUSDT−0.070%+0.0086%8h$53.5M$29.3M75xas long as short
Extended LINK-USD−0.066%+0.0104%1h$648K$1.8M25xas long as short
OKX LINK-USDT-SWAP−0.062%−0.0033%8h$26.6M$84.4M50xas long as short
Polymarket Perps LINK-USD−0.062%+0.0100%1h$76K$56K10xas long as short
SoDEX LINK-USD−0.062%+0.0091%1h$4K$39K10xas long as short
Derive LINK-PERP−0.046%+0.0100%1h$24K$13K10xas long as short
gTrade (Gains Network) LINK/USD−0.037%L +0.0004% / S −0.0006%1h$161K—150xas long as short
GMX LINK/USD [LINK-USDC]−0.033%L −0.0091% / S +0.0165%1h$1.7M—200xas long as short
Binance LINKUSDT−0.033%+0.0038%8h$116.4M$289.3M75xas long as short
Hyperliquid LINK−0.023%+0.0100%1h$74.9M$22.1M10xas long as short
Arcus LINK-USD−0.016%+0.0100%1h$180K$126K10xas long as short
Lighter LINK−0.010%+0.0096%1h$2.0M$2.3M10xas long as short
Orderly PERP_LINK_USDC−0.008%+0.0070%8h$142K$1.7M20xas long as short
Aevo LINK-PERP−0.004%+0.0088%1h$540K$3403xas long as short
Kraken Futures PF_LINKUSDlong0.000%−0.0168%1h$6.0M$6.5M50x
Deribit LINK_USDC-PERPETUAL+0.021%+0.0054%1h$682K$106K50xas long as short
Phemex LINKUSDT+0.031%+0.0414%8h$20.0M$11.2M50xas long as short