LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0111%/8h= +12.2% APRnext payment +$0.14 per $10,000 · paid last 24h 0.000%

Price spread now: Backpack against ApeX Omni+0.091%84s7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.434% of the position

Long on ApeX Omni Short on Backpack

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)−0.326%−$33 · spread now +0.091%, 7d avg −0.013%

Together, before fees−0.326%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.105% dearer against ApeX Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.013%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LINKUSDT	13.148	0.0100	pay 0.0013% / 1h	56m 13s	$153K	$666K	50x
Short	Backpack LINK_USDC_PERP	13.160	0.0211	get 0.0026% / 1h	56m 13s	$366K	$374K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.091%Rate

Funding earned: $23.37
Price spread: +0.091% → −0.013%: $10.47
Slippage, 4 orders: −$23.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$9.56
Costs to cover: 0.434%
Break-even: 9.9 days

Slippage from ApeX Omni: live order book, 27 min ago; Backpack: live order book, 27 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 ApeX Omni live order book, 27 min ago	6.08 bp	13.5 bp −$14	76.1 bp −$761	doesn't fit	doesn't fit
Sell Backpack live order book, 27 min ago	0.38 bp	6.3 bp −$6	417.3 bp −$4,173	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 −0.0090% / S +0.0167%	1h	13.144	−0.029%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.158	+0.079%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.154	+0.045%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.148	+0.002%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.147	−0.008%	$133K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.128	−0.154%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.689%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.143	−0.038%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.152	+0.030%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.158	+0.077%	$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	13.160	+0.095%	$400K	$316K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.161	+0.099%	$77.5M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.148	−0.002%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.162	+0.109%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	−0.008%	$121.9M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.150	+0.015%	$84.7M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.153	+0.038%	$27.7M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	+0.183%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.149	+0.008%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.152	+0.030%	$36.8M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.151	+0.023%	$22.2M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.149	+0.008%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.151	+0.023%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.143	−0.038%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.127	−0.158%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.088%	$589K	$2.8M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	13.148	long leg	$153K	$666K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.154	+0.046%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.140	−0.060%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.178	+0.230%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.148	0.000%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.152	+0.028%	$647K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.142	−0.042%	$667K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.149	+0.006%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.150	+0.015%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERPshort	+0.0211%	1h	13.160	+0.091%	$366K	$374K	15x
BloFin LINK-USDT	+0.0220%	8h	13.143	−0.038%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.146	−0.014%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0479%	8h	13.164	+0.122%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.153	+0.038%	$6.9M	$8.0M	50x	as long as short