Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.013%

Price spread now: Extended against BingX−0.036%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.036%, 7d avg −0.041%

Together, before fees−0.021%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDC	13.182	0.0100	pay 0.0100% / 8h	2h 16m	—	$6.6M	—
Short	Extended LINK-USD	13.177	0.0104	get 0.0013% / 1h	16m 22s	$667K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0.84
Price spread: −0.036% → −0.041%: $0.59
Slippage, 4 orders: −$16.91
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.48
Costs to cover: 0.319%
Break-even: 261.0 days

Slippage from BingX: live order book, 5 min ago; Extended: live order book, 2 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, 5 min ago	0.76 bp	12.1 bp −$12	24.1 bp −$241	85.1 bp −$8,511	470.6 bp −$235.3K
Sell Extended live order book, 2 min ago	2.28 bp	5.5 bp −$5	6.9 bp −$69	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 −0.0092% / S +0.0166%	1h	13.183	+0.005%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.197	+0.113%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.184	+0.017%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.183	+0.011%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0016%	1h	13.187	+0.037%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	+0.020%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.932%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.178	−0.030%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0087%	8h	13.164	−0.138%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.195	+0.098%	$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	13.189	+0.054%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.189	+0.057%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.199	+0.129%	$78.0M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.192	+0.076%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.193	+0.085%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.180	−0.018%	$122.1M	$301.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.181	−0.008%	$84.9M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.182	0.000%	$27.9M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.201	+0.144%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.190	+0.061%	$131.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.183	+0.008%	$37.4M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.189	+0.053%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.181	−0.008%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDClong	+0.0100%	8h	13.182	long leg	—	$6.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.167	−0.113%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.164	−0.136%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.106%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.189	+0.053%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.179	−0.026%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.095%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.178	−0.030%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.192%	$647K	$908K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.177	−0.036%	$667K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.183	+0.011%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.202	+0.152%	$993K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0117%	1h	13.198	+0.121%	$366K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.190	+0.061%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.184	+0.015%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0461%	8h	13.194	+0.091%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.187	+0.037%	$7.0M	$7.9M	50x	as long as short