LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0082%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.004%

Price spread now: ApeX Omni against Backpack−0.106%84s7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.390% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.223%+$22 · spread now −0.106%, 7d avg +0.010%

Together, before fees+0.218%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.117% cheaper against Backpack than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.010%). Swap the legs. The two prices were read 84 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	Backpack LINK_USDC_PERP	13.170	0.0182	pay 0.0023% / 1h	44m 11s	$365K	$369K	15x
Short	ApeX Omni LINKUSDT	13.156	0.0100	get 0.0013% / 1h	44m 11s	$153K	$667K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now −0.106%Rate

Funding earned: −$17.18
Price spread: −0.106% → +0.010%: −$11.68
Slippage, 4 orders: −$18.97
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$67.82
Costs to cover: 0.390%
Break-even: never at this rate

Slippage from Backpack: live order book, 29 min ago; ApeX Omni: live order book, 29 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 Backpack live order book, 29 min ago	0.38 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 29 min ago	4.96 bp	12.1 bp −$12	92.6 bp −$926	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	13.161	−0.065%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.186	+0.123%	$468K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.165	−0.036%	$761K	$181K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.165	−0.041%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.847%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.161	−0.065%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0045%	8h	13.160	−0.076%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.160	−0.072%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.167	−0.021%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.166	−0.027%	$404K	$311K	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	13.168	−0.017%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.174	+0.029%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.175	+0.038%	$122.3M	$305.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.176	+0.046%	$84.9M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.181	+0.084%	$27.9M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.185	+0.114%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.170	0.000%	$130.4M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.162	−0.061%	$36.7M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.165	−0.038%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.168	−0.015%	$54.8M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.170	0.000%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	−0.179%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.152	−0.136%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.150	−0.154%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	13.156	−0.106%	$153K	$667K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.171	+0.008%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	−0.075%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.181	+0.087%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.158	−0.091%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.159	−0.080%	$647K	$874K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.155	−0.116%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.162	−0.064%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.184	+0.106%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0182%	1h	13.170	long leg	$365K	$369K	15x
BloFin LINK-USDT	+0.0220%	8h	13.165	−0.038%	$5.2M	$16.7M	75x	as long as short
dYdX LINK-USD	+0.0233%	1h	13.170	+0.001%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0341%	8h	13.177	+0.053%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.165	−0.040%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.158	−0.090%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0510%	1h	13.187	+0.128%	$80.5M	$25.0M	10x	as long as short