Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Aster−4.527%117s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.949%+$95 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.527% cheaper against Aster than usual: you would sell low and buy high (−$453 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.949%, so the current rate has only just turned against you. The two prices were read 117 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	Aster LINKUSDT	12.988	0.0100	pay 0.0100% / 8h	6h 11m	$1.3M	$3.0M	50x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	11m 28s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −4.527%Rate

Funding earned: −$14
Price spread: −4.527% → 0.000%: −$452.66
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$474.68
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 min ago; Injective: 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 Aster live order book, 2 min ago	1.54 bp	8.2 bp −$8	20.0 bp −$200	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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	12.982	−0.046%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.007	+0.147%	$475K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.982	−0.049%	$159K	—	150x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−4.527%	$4K	$48K	12x
Phoenix LINK	+0.0049%	1h	13.005	+0.128%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.985	−0.022%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.998	+0.078%	$953K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.985	−0.020%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.984	−0.029%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.981	−0.049%	$395K	$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 LINKUSDTlong	+0.0100%	8h	12.988	long leg	$1.3M	$3.0M	50x
Pacifica LINK	+0.0100%	1h	12.987	−0.004%	$275K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.986	−0.015%	$119.3M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.984	−0.030%	$83.8M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.988	+0.001%	$27.3M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.003	+0.116%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.982	−0.046%	$128.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.985	−0.022%	$33.0M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.988	+0.001%	$23.0M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.980	−0.061%	$53.9M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.985	−0.022%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	+0.009%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	+0.026%	$43K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.991	+0.026%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.989	+0.008%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.988	+0.001%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.996	+0.062%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.007	+0.148%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.995	+0.055%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.920	−0.526%	$637K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.978	−0.074%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.992	+0.028%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0125%	1h	13.001	+0.101%	$338K	$383K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0150%	1h	13.000	+0.092%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.980	−0.062%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0390%	1h	12.987	−0.010%	$344K	$35K	10x	as long as short
Hyperliquid LINK	+0.0462%	1h	13.000	+0.093%	$80.7M	$26.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.999	+0.083%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0601%	8h	13.010	+0.170%	$20.1M	$11.5M	50x	as long as short