LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Backpack against Aevo+0.107%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$790.792% of the position

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 3 days (all we have)−0.159%−$16 · spread now +0.107%, 7d avg +0.033%

Together, before fees−0.149%−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.074% dearer against Aevo than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	12.990	0.0104	pay 0.0013% / 1h	51m 22s	$545K	$2K	3x
Short	Backpack LINK_USDC_PERP	13.004	0.0100	get 0.0013% / 1h	51m 22s	$342K	$388K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$0.84
Price spread: +0.107% → +0.033%: $7.41
Slippage, 4 orders: −$53.24
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$72.67
Costs to cover: 0.792%
Break-even: never at this rate

Slippage from Aevo: live order book, 18 min ago; Backpack: live order book, 17 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 Aevo live order book, 18 min ago	18.58 bp	33.8 bp −$34	181.9 bp −$1,819	doesn't fit	doesn't fit
Sell Backpack live order book, 17 min ago	0.38 bp	5.8 bp −$6	668.0 bp −$6,680	doesn't fit	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	12.986	−0.030%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	+0.014%	$462K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.993	+0.023%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.543%	$4K	$48K	12x	as long as short
dYdX LINK-USD	+0.0040%	1h	12.984	−0.045%	$344K	$48K	10x	as long as short
Phoenix LINK	+0.0049%	1h	12.998	+0.057%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	12.993	+0.022%	$124K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.003	+0.099%	$955K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0073%	1h	12.994	+0.028%	$772K	$212K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.980	−0.078%	$1.9M	$2.7M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0099%	8h	13.038	+0.370%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.979	−0.082%	$392K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.988	−0.018%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.981	−0.068%	$272K	$156K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.995	+0.041%	$120.8M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.994	+0.030%	$83.7M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.997	+0.053%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.001	+0.084%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.985	−0.040%	$128.6M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.990	−0.001%	$35.8M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	+0.014%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.982	−0.063%	$53.7M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.995	+0.037%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERPshort	+0.0100%	1h	13.004	+0.107%	$342K	$388K	15x
Variational Omni LINK	+0.0100%	8h	13.000	+0.080%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.076%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.984	−0.050%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	−0.040%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.989	−0.009%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.986	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.004	+0.104%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	+0.014%	$24K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.982	−0.060%	$640K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	−0.080%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	12.990	long leg	$545K	$2K	3x
BloFin LINK-USDT	+0.0220%	8h	12.978	−0.093%	$5.3M	$15.5M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.982	−0.062%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0499%	1h	12.998	+0.061%	$79.8M	$29.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.998	+0.059%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0671%	8h	13.012	+0.168%	$20.1M	$11.5M	50x	as long as short