Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.030%

Price spread now: ApeX Omni against BloFin+0.247%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.186%−$19 on $10k

Price spread, last 4 days (all we have)−0.376%−$38 · spread now +0.247%, 7d avg +0.039%

Together, before fees−0.562%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.207% dearer against BloFin than usual: you sell high and buy low (spread +0.247% now, against its 7-day average of +0.039%): +$21 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.979	0.0220	pay 0.0220% / 8h	5h 40m	$5.3M	$15.8M	75x
Short	ApeX Omni LINKUSDT	13.011	0.0100	get 0.0013% / 1h	40m 52s	$133K	$671K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.247%Rate

Funding earned: −$25.2
Price spread: +0.247% → +0.039%: $20.72
Slippage, 4 orders: −$23.43
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$49.9
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 22 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 BloFin live order book, 3 min ago	1.54 bp	8.6 bp −$9	11.6 bp −$116	20.0 bp −$1,996	58.4 bp −$29.2K
Sell ApeX Omni live order book, 22 min ago	5.76 bp	13.8 bp −$14	108.9 bp −$1,089	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 −0.0090% / S +0.0167%	1h	12.977	−0.017%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.984	+0.039%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.978	−0.011%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.461%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.977	−0.015%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.970	−0.069%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.972	−0.054%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	+0.030%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.974	−0.040%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.978	−0.004%	$395K	$315K	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	12.986	+0.055%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.976	−0.025%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.986	+0.052%	$119.8M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.981	+0.015%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.982	+0.023%	$27.4M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.995	+0.123%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.987	+0.062%	$128.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.988	+0.069%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.993	+0.108%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.979	0.000%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.986	+0.054%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.062%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.006	+0.207%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.243%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	13.011	+0.247%	$133K	$671K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.982	+0.023%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.973	−0.050%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.107%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.973	−0.046%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.969	−0.079%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.983	+0.030%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.972	−0.054%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0105%	1h	12.986	+0.054%	$339K	$378K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.975	−0.031%	$771K	$193K	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.979	long leg	$5.3M	$15.8M	75x
dYdX LINK-USD	+0.0335%	1h	12.974	−0.041%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.975	−0.032%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.977	−0.012%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0631%	8h	12.987	+0.062%	$20.0M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0686%	1h	12.995	+0.123%	$81.2M	$27.0M	10x	as long as short