Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against Backpack−0.065%7-day average −0.046% · 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−$34as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.423%+$42 · spread now −0.065%, 7d avg −0.046%

Together, before fees+0.423%+ Points / potential airdropNado: Active · farm board+$42 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.084	0.0100	pay 0.0013% / 1h	45m 04s	$362K	$369K	15x
Short	Nado LINK-PERP	13.075	0.0100	get 0.0012% / 1h	45m 04s	$397K	$317K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → −0.046%: −$1.93
Slippage, 4 orders: −$15.1
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$34.02
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from Backpack: live order book, 43 min ago; Nado: live order book, 42 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, 43 min ago	0.38 bp	9.2 bp −$9	56.7 bp −$567	doesn't fit	doesn't fit
Sell Nado live order book, 42 min ago	1.13 bp	7.3 bp −$7	19.4 bp −$194	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 +0.0165%	1h	13.079	−0.039%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.086	+0.012%	$456K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.079	−0.040%	$701K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.080	−0.031%	$82K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	−0.083%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.228%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0043%	8h	13.084	−0.003%	$3.3M	$1.5M	—	as long as short
dYdX LINK-USD	+0.0051%	1h	13.082	−0.015%	$347K	$60K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.071	−0.099%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.080	−0.032%	$2.1M	$2.4M	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	+0.0100%	8h	13.071	−0.102%	$31K	$3K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.075	−0.065%	$397K	$317K	10x
Hyperliquid LINK	+0.0100%	1h	13.085	+0.008%	$77.2M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.080	−0.032%	$1.5M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.078	−0.048%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.072	−0.088%	$120.9M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.074	−0.076%	$84.3M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.073	−0.084%	$27.5M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.090	+0.046%	$183K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.076	−0.061%	$130.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.071	−0.099%	$35.6M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.076	−0.061%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.072	−0.092%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.074	−0.076%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERPlong	+0.0100%	1h	13.084	long leg	$362K	$369K	15x
edgeX LINKUSDC	+0.0100%	4h	13.086	+0.015%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.076	−0.065%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.091	+0.054%	$152K	$662K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.080	−0.031%	$80K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.074	−0.080%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.086	+0.018%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.069%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.069	−0.115%	$639K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.070	−0.109%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.081	−0.021%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.082	−0.015%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.078	−0.046%	$5.2M	$16.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.078	−0.046%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0501%	8h	13.092	+0.061%	$20.2M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.087	+0.022%	$7.0M	$7.7M	50x	as long as short