Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.030%

Price spread now: Arcus against BloFin+0.337%95s7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$510.513% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 3 days (all we have)−0.353%−$35 · spread now +0.337%, 7d avg +0.060%

Together, before fees−0.475%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.277% dearer against BloFin than usual: you sell high and buy low (spread +0.337% now, against its 7-day average of +0.060%): +$28 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.7 days. The two prices were read 95 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	BloFin LINK-USDT	13.049	0.0220	pay 0.0220% / 8h	2h 49m	$5.2M	$16.6M	75x
Short	Arcus LINK-USD	13.093	0.0100	get 0.0013% / 1h	49m 29s	$184K	$171K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.337%Rate

Funding earned: −$25.2
Price spread: +0.337% → +0.060%: $27.74
Slippage, 4 orders: −$34.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$48.76
Costs to cover: 0.513%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Arcus: live order book, 38 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, 4 min ago	2.68 bp	9.1 bp −$9	13.5 bp −$135	30.7 bp −$3,071	doesn't fit
Sell Arcus live order book, 38 min ago	5.66 bp	8.1 bp −$8	16.5 bp −$165	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	13.071	+0.170%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.077	+0.213%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.075	+0.199%	$701K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.074	+0.189%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	+0.185%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.974%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0037%	8h	13.058	+0.066%	$3.2M	$1.5M	—	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.064	+0.115%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0071%	1h	13.083	+0.258%	$347K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.082	+0.253%	$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	13.076	+0.210%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.076	+0.207%	$397K	$319K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.082	+0.253%	$77.4M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.086	+0.280%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.080	+0.238%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.075	+0.199%	$120.9M	$300.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.075	+0.199%	$84.4M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.076	+0.207%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	13.093	+0.337%	$184K	$171K	10x
Gate LINK_USDT	+0.0100%	8h	13.077	+0.215%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.071	+0.169%	$35.5M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.087	+0.291%	$21.9M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.076	+0.207%	$54.1M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.081	+0.245%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.088	+0.299%	$362K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.089	+0.308%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.062	+0.099%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.060	+0.084%	$152K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.082	+0.253%	$79K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.068	+0.145%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.079	+0.231%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.074	+0.192%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.040	−0.069%	$638K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.078	+0.222%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.075	+0.198%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.079	+0.230%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.049	long leg	$5.2M	$16.6M	75x
Reya LINKRUSDPERP	+0.0372%	1h	13.076	+0.207%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.085	+0.278%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0515%	8h	13.086	+0.284%	$20.2M	$11.5M	50x	as long as short