Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Binance against Aevo−0.050%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$820.821% of the position

Long on Aevo Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now −0.050%, 7d avg −0.010%

Together, before fees−0.221%−$22 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: Binance is 0.040% cheaper against Aevo than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	13.011	0.0104	pay 0.0013% / 1h	44m 48s	$546K	$2K	3x
Short	Binance LINKUSDT	13.005	0.0100	get 0.0100% / 8h	5h 44m	$119.8M	$296.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.050%Rate

Funding earned: −$0.84
Price spread: −0.050% → −0.010%: −$4.02
Slippage, 4 orders: −$56.06
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: −$86.93
Costs to cover: 0.821%
Break-even: never at this rate

Slippage from Aevo: live order book, 19 min ago; Binance: live order book, 14 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, 19 min ago	19.56 bp	33.1 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.38 bp	6.7 bp −$7	13.5 bp −$135	38.7 bp −$3,867	127.5 bp −$63.7K

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	13.001	−0.082%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.002	−0.070%	$479K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.000	−0.091%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.700%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.973	−0.296%	$936K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.005	−0.050%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.004	−0.055%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.000	−0.089%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.001	−0.081%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.008	−0.023%	$395K	$316K	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	13.027	+0.116%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	−0.153%	$274K	$168K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	13.005	−0.050%	$119.8M	$296.4M	75x
Bybit LINKUSDT	+0.0100%	8h	12.995	−0.127%	$84.1M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.003	−0.065%	$27.5M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.016	+0.035%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.021	+0.073%	$128.5M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.012	+0.004%	$32.1M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.026	+0.111%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.003	−0.065%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.010	−0.012%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.309%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.284%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.360%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.990	−0.165%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	+0.035%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	−0.023%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	−0.005%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	+0.004%	$5K	$45K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.305%	$640K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.020	+0.067%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	13.011	long leg	$546K	$2K	3x
Backpack LINK_USDC_PERP	+0.0106%	1h	13.024	+0.096%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	−0.050%	—	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0296%	1h	13.014	+0.016%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0351%	1h	13.001	−0.080%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.006	−0.045%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.013	+0.014%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0601%	8h	13.025	+0.104%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0741%	1h	13.021	+0.073%	$81.8M	$26.7M	10x	as long as short