Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Aster−0.050%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.050%, 7d avg −0.028%

Together, before fees−0.104%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board−$10 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: Pacifica is 0.022% cheaper against Aster than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.028%.

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 51m	$1.3M	$3.0M	50x
Short	Pacifica LINK	12.981	0.0100	get 0.0013% / 1h	51m 31s	$272K	$156K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.028%: −$2.16
Slippage, 4 orders: −$24.43
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$42.59
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Pacifica: live order book, 17 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 Aster live order book, 2 min ago	1.92 bp	7.1 bp −$7	18.4 bp −$184	doesn't fit	doesn't fit
Sell Pacifica live order book, 17 min ago	5.31 bp	11.5 bp −$12	doesn't fit	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 −0.0091% / S +0.0167%	1h	12.986	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	+0.032%	$462K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.993	+0.041%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.526%	$4K	$48K	12x	as long as short
dYdX LINK-USD	+0.0040%	1h	12.984	−0.027%	$344K	$48K	10x	as long as short
Phoenix LINK	+0.0049%	1h	12.998	+0.075%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	12.993	+0.040%	$124K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.003	+0.117%	$955K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0073%	1h	12.994	+0.046%	$772K	$212K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.980	−0.060%	$1.9M	$2.7M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0099%	8h	13.038	+0.389%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.979	−0.064%	$392K	$310K	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	12.988	long leg	$1.3M	$3.0M	50x
Pacifica LINKshort	+0.0100%	1h	12.981	−0.050%	$272K	$156K	10x
Binance LINKUSDT	+0.0100%	8h	12.995	+0.059%	$120.8M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.994	+0.048%	$83.7M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.997	+0.071%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.001	+0.102%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.985	−0.021%	$128.6M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.990	+0.017%	$35.8M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	+0.032%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.982	−0.045%	$53.7M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.995	+0.056%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.004	+0.125%	$342K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.000	+0.098%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.058%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.984	−0.032%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	−0.021%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.989	+0.009%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.986	−0.015%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.004	+0.122%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	+0.032%	$24K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.982	−0.042%	$640K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	−0.062%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.990	+0.018%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.978	−0.075%	$5.3M	$15.5M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.982	−0.044%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0499%	1h	12.998	+0.079%	$79.8M	$29.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.998	+0.077%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0671%	8h	13.012	+0.186%	$20.1M	$11.5M	50x	as long as short