Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.013%

Price spread now: Bybit against Aevo−0.031%7-day average −0.037% · 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−$77as in the Price arb table

costs, in and out, $10k−$780.777% of the position

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.031%, 7d avg −0.037%

Together, before fees−0.135%−$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	13.164	0.0104	pay 0.0013% / 1h	21m 21s	$552K	$2K	3x
Short	Bybit LINKUSDT	13.160	0.0100	get 0.0100% / 8h	7h 21m	$84.8M	$71.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$0.84
Price spread: −0.031% → −0.037%: $0.6
Slippage, 4 orders: −$50.7
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$77.94
Costs to cover: 0.777%
Break-even: never at this rate

Slippage from Aevo: live order book, 53 min ago; Bybit: 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 Aevo live order book, 53 min ago	20.97 bp	30.8 bp −$31	164.3 bp −$1,643	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.38 bp	6.8 bp −$7	12.4 bp −$124	34.7 bp −$3,468	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	13.162	−0.019%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.165	+0.006%	$475K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.161	−0.022%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.804%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.193	+0.220%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.160	−0.031%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.154	−0.080%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.215	+0.386%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.156	−0.061%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.159	−0.041%	$1.4M	$3.0M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.156	−0.060%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.161	−0.023%	$122.3M	$301.0M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.160	−0.031%	$84.8M	$71.1M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.161	−0.023%	$27.6M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.174	+0.075%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.159	−0.038%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.160	−0.031%	$36.9M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.163	−0.008%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.161	−0.023%	$54.8M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.160	−0.031%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	−0.051%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.172	+0.058%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.202	+0.288%	$601K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.176	+0.091%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.162	−0.016%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	−0.032%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.176	+0.089%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.163	−0.008%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.145	−0.143%	$647K	$851K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.159	−0.039%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	13.164	long leg	$552K	$2K	3x
Deribit LINK_USDC-PERPETUAL	+0.0115%	1h	13.169	+0.041%	$782K	$211K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.169	+0.037%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0182%	1h	13.162	−0.016%	$366K	$365K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.167	+0.022%	$5.2M	$15.9M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.172	+0.063%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.158	−0.045%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0439%	1h	13.153	−0.081%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0564%	1h	13.178	+0.106%	$81.4M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0624%	8h	13.172	+0.060%	$20.4M	$11.6M	50x	as long as short