Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: BloFin against ApeX Omni+0.216%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now +0.216%, 7d avg −0.045%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.261% dearer against ApeX Omni than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LINKUSDT	12.944	0.0100	pay 0.0013% / 1h	1m 38s	$132K	$675K	50x
Short	BloFin LINK-USDT	12.972	0.0220	get 0.0220% / 8h	4h 01m	$5.3M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.216%Rate

Funding earned: $25.2
Price spread: +0.216% → −0.045%: $26.11
Slippage, 4 orders: −$20.22
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $9.09
Costs to cover: 0.422%
Break-even: 4.5 days

Slippage from ApeX Omni: live order book, 57 min ago; BloFin: live order book, 2 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, 57 min ago	3.87 bp	11.2 bp −$11	84.7 bp −$847	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.54 bp	7.8 bp −$8	11.9 bp −$119	29.2 bp −$2,924	67.1 bp −$33.5K

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 −0.0089% / S +0.0166%	1h	12.978	+0.266%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.980	+0.277%	$520K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.979	+0.267%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.203%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0054%	8h	12.980	+0.278%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.995	+0.394%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.982	+0.294%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.952	+0.063%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.995	+0.395%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.976	+0.243%	$392K	$310K	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	12.985	+0.317%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.999	+0.422%	$276K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.999	+0.425%	$120.2M	$297.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.995	+0.394%	$83.9M	$72.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.000	+0.433%	$27.5M	$81.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.012	+0.525%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.998	+0.417%	$128.7M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.999	+0.425%	$32.9M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.999	+0.425%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.000	+0.433%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.999	+0.425%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.993	+0.379%	$340K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.943	−0.006%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.943	−0.005%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	+0.107%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	12.944	long leg	$132K	$675K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.984	+0.309%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.981	+0.287%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.991	+0.362%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.986	+0.324%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.912	−0.251%	$634K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.993	+0.377%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.988	+0.339%	$545K	$2K	3x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.972	+0.216%	$5.3M	$15.7M	75x
Deribit LINK_USDC-PERPETUAL	+0.0351%	1h	12.991	+0.364%	$781K	$202K	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	12.976	+0.251%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0391%	1h	13.005	+0.471%	$81.4M	$27.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0393%	1h	12.989	+0.350%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0455%	1h	12.991	+0.363%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0535%	8h	13.001	+0.440%	$20.1M	$11.4M	50x	as long as short