Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.038%

Price spread now: Coinbase International against BloFin+0.091%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.091%, 7d avg +0.012%

Together, before fees−0.316%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.079% dearer against BloFin than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.012%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	13.166	0.0220	pay 0.0220% / 8h	1h 12m	$5.2M	$17.0M	75x
Short	Coinbase International LINK-PERP-INTX	13.178	0.0120	get 0.0015% / 1h	12m 42s	$995K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$21
Price spread: +0.091% → +0.012%: $7.89
Slippage, 4 orders: −$15.18
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$50.29
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Coinbase International: live order book, 1 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, 6 min ago	1.14 bp	7.1 bp −$7	10.6 bp −$106	27.1 bp −$2,714	64.8 bp −$32.4K
Sell Coinbase International live order book, 1 min ago	3.42 bp	10.1 bp −$10	15.6 bp −$156	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	13.160	−0.043%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.170	+0.032%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.165	−0.008%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.162	−0.028%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0030%	1h	13.174	+0.064%	$349K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.818%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.183	+0.127%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.156	−0.076%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.175	+0.068%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.161	−0.038%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.159	−0.055%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.185	+0.144%	$77.8M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.171	+0.041%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.166	0.000%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.173	+0.053%	$122.3M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.171	+0.038%	$85.0M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.175	+0.068%	$27.8M	$86.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.177	+0.084%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.170	+0.030%	$130.6M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.169	+0.023%	$36.3M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.169	+0.023%	$22.4M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.172	+0.046%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.170	+0.030%	—	$21.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.184	+0.136%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	+0.101%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+0.137%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.187	+0.160%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.160	−0.046%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.157	−0.066%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.175	+0.067%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.162	−0.030%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.158	−0.064%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.166	+0.001%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.163	−0.019%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	13.178	+0.091%	$995K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0210%	1h	13.176	+0.076%	$365K	$376K	15x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.166	long leg	$5.2M	$17.0M	75x
Reya LINKRUSDPERP	+0.0376%	1h	13.155	−0.081%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0472%	8h	13.181	+0.114%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.170	+0.031%	$6.9M	$8.1M	50x	as long as short