Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: Bybit against Arcus−0.054%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.054%, 7d avg −0.092%

Together, before fees+0.087%+$9 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 0.038% dearer against Arcus than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	13.016	0.0100	pay 0.0013% / 1h	45m 13s	$182K	$165K	10x
Short	Bybit LINKUSDT	13.009	0.0100	get 0.0100% / 8h	5h 45m	$84.1M	$71.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.092%: $3.77
Slippage, 4 orders: −$29.89
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$41.62
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Arcus: live order book, 18 min ago; Bybit: live order book, 4 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 Arcus live order book, 18 min ago	11.89 bp	15.8 bp −$16	32.2 bp −$322	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.38 bp	6.6 bp −$7	15.1 bp −$151	41.7 bp −$4,165	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	13.001	−0.116%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.002	−0.104%	$479K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.000	−0.125%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.733%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.973	−0.330%	$936K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.005	−0.085%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.010	−0.046%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.000	−0.124%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.001	−0.115%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.008	−0.058%	$395K	$316K	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	13.009	−0.056%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	−0.187%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.015	−0.004%	$119.9M	$296.1M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.009	−0.054%	$84.1M	$71.2M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.013	−0.023%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.016	long leg	$182K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	13.014	−0.015%	$128.4M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	−0.023%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.017	+0.008%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.014	−0.015%	$54.1M	$29.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.011	−0.038%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.344%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.319%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.395%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.990	−0.200%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	0.000%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	−0.057%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	−0.039%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	−0.031%	$5K	$45K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.340%	$640K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.004	−0.095%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.011	−0.035%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0106%	1h	13.024	+0.061%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	−0.085%	—	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0296%	1h	13.014	−0.018%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0376%	1h	12.993	−0.177%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.006	−0.079%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.013	−0.020%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0601%	8h	13.025	+0.069%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0737%	1h	13.035	+0.146%	$81.9M	$26.6M	10x	as long as short