Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Bybit against ApeX Omni−0.246%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$430.425% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.622%−$62 · spread now −0.246%, 7d avg −0.083%

Together, before fees−0.718%−$72 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: Bybit is 0.164% cheaper against ApeX Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LINKUSDT	12.985	0.0100	pay 0.0013% / 1h	9m 15s	$133K	$674K	50x
Short	Bybit LINKUSDT	12.953	0.0100	get 0.0100% / 8h	6h 09m	$83.5M	$72.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.246%Rate

Funding earned: $0
Price spread: −0.246% → −0.083%: −$16.37
Slippage, 4 orders: −$21.54
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.91
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 59 min ago; Bybit: live order book, 5 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, 59 min ago	6.07 bp	14.1 bp −$14	81.8 bp −$818	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.38 bp	6.6 bp −$7	10.8 bp −$108	32.0 bp −$3,203	doesn't fit

LINK on 39 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	12.955	−0.232%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.963	−0.169%	$469K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.955	−0.233%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.505%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.992	+0.055%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.957	−0.216%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.993	+0.062%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.959	−0.199%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.962	−0.175%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.959	−0.204%	$394K	$319K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.958	−0.208%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.961	−0.185%	$275K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.959	−0.200%	$119.2M	$302.2M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	12.953	−0.246%	$83.5M	$72.1M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.961	−0.185%	$27.3M	$83.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.976	−0.069%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.953	−0.246%	$127.7M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.958	−0.208%	$33.0M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.961	−0.185%	$23.0M	$14.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.958	−0.208%	$53.8M	$30.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.955	−0.231%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.979	−0.044%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.985	−0.002%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.990	+0.038%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	12.985	long leg	$133K	$674K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.963	−0.169%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	−0.218%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.969	−0.120%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.961	−0.185%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.959	−0.204%	$639K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.956	−0.223%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.963	−0.173%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.969	−0.123%	$337K	$383K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0136%	1h	12.965	−0.152%	$770K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.954	−0.238%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0432%	1h	12.961	−0.186%	$343K	$34K	10x	as long as short
Hyperliquid LINK	+0.0462%	1h	12.972	−0.100%	$80.6M	$26.2M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	12.966	−0.147%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0635%	8h	12.976	−0.069%	$20.0M	$11.5M	50x	as long as short