Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.008%

Price spread now: Coinbase International against BingX+0.093%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$440.435% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.093% dearer against BingX than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDC	12.902	0.0100	pay 0.0100% / 8h	1h 50m	—	$6.6M	—
Short	Coinbase International LINK-PERP-INTX	12.914	0.0120	get 0.0015% / 1h	50m 54s	$933K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.093%Rate

Funding earned: $4.2
Price spread: +0.093% → 0.000%: $9.3
Slippage, 4 orders: −$23.53
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$30.03
Costs to cover: 0.435%
Break-even: 57.1 days

Slippage from BingX: live order book, 16 min ago; Coinbase International: live order book, 3 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 BingX live order book, 16 min ago	0.77 bp	9.1 bp −$9	15.7 bp −$157	84.3 bp −$8,428	433.1 bp −$216.5K
Sell Coinbase International live order book, 3 min ago	3.49 bp	13.1 bp −$13	15.5 bp −$155	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 −0.0089% / S +0.0166%	1h	12.898	−0.030%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.903	+0.009%	$511K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.896	−0.047%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0011%	8h	12.889	−0.101%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.891%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.893	−0.067%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.896	−0.047%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.881	−0.162%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.883	−0.147%	$349K	$339K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.902	+0.004%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.887	−0.118%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.905	+0.024%	$119.0M	$301.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.900	−0.016%	$83.3M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.904	+0.016%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.903	+0.008%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.898	−0.031%	$124.1M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.904	+0.016%	$33.4M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.903	+0.008%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.902	0.000%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDClong	+0.0100%	8h	12.902	long leg	—	$6.6M	—
Variational Omni LINK	+0.0100%	8h	12.890	−0.090%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.892	−0.076%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	−0.063%	$585K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.897	−0.039%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.901	−0.008%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.895	−0.053%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.896	−0.043%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.896	−0.047%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.877	−0.191%	$631K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.897	−0.038%	$629K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.899	−0.023%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	12.914	+0.093%	$933K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0134%	1h	12.907	+0.039%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.900	−0.012%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.891	−0.085%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0262%	1h	12.903	+0.010%	$807K	$259K	50x	as long as short
Hyperliquid LINK	+0.0318%	1h	12.922	+0.155%	$80.6M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.894	−0.062%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0573%	8h	12.899	−0.023%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0919%	1h	12.887	−0.117%	$343K	$33K	10x	as long as short