Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.001%

Price spread now: Orderly against Aevo−0.037%7-day average +0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.037%, 7d avg +0.017%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.054% cheaper against Aevo than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	13.204	0.0104	pay 0.0013% / 1h	40m 10s	$554K	$2K	3x
Short	Orderly PERP_LINK_USDC	13.199	0.0041	get 0.0041% / 8h	1h 40m	$134K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.037%Rate

Funding earned: −$13.17
Price spread: −0.037% → +0.017%: −$5.44
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$40.61
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 44 min ago; Orderly: no order-book sample. Net counts fees only.

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, 44 min ago	21.27 bp	38.1 bp −$38	191.7 bp −$1,917	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	13.205	+0.006%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.205	+0.011%	$350K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.209	+0.035%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.207	+0.026%	$721K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.205	+0.005%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.088%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.034%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDCshort	+0.0041%	8h	13.199	−0.037%	$134K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.207	+0.024%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.200	−0.033%	$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	13.200	−0.030%	$400K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.213	+0.069%	$78.0M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.207	+0.021%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.203	−0.007%	$277K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.203	−0.009%	$122.5M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.203	−0.007%	$85.1M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.203	−0.007%	$27.8M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.216	+0.092%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.203	−0.007%	$131.1M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.202	−0.014%	$36.8M	$56.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.207	+0.023%	$22.3M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.202	−0.014%	$54.9M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.202	−0.014%	—	$21.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.205	+0.008%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.181	−0.173%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.165	−0.295%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.172	−0.242%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.204	+0.001%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.201	−0.025%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.220	+0.120%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.203	−0.007%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.191	−0.095%	$649K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.200	−0.030%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	13.204	long leg	$554K	$2K	3x
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.202	−0.014%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0185%	1h	13.213	+0.069%	$367K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.203	−0.007%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.202	−0.013%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0450%	8h	13.215	+0.084%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.212	+0.058%	$7.0M	$8.0M	50x	as long as short