Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0181%/8h= −19.8% APRpaid last 24h −0.060%

Price spread now: Deribit against BloFin+0.008%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.422%−$42 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.008%, 7d avg −0.003%

Together, before fees−0.406%−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	13.141	0.0220	pay 0.0220% / 8h	7h 17m	$5.2M	$15.4M	75x
Short	Deribit LINK_USDC-PERPETUAL	13.142	0.0039	get 0.0005% / 1h	17m 16s	$780K	$211K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$38.01
Price spread: +0.008% → −0.003%: $1.1
Slippage, 4 orders: −$13.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.81
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Deribit: live order book, 57 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, 7 min ago	1.14 bp	8.1 bp −$8	12.2 bp −$122	28.7 bp −$2,873	doesn't fit
Sell Deribit live order book, 57 min ago	1.91 bp	10.4 bp −$10	18.1 bp −$181	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 +0.0167%	1h	13.134	−0.054%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.149	+0.059%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.136	−0.038%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.639%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.168	+0.202%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0039%	1h	13.142	+0.008%	$780K	$211K	50x
Orderly PERP_LINK_USDC	+0.0067%	8h	13.134	−0.053%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.138	−0.020%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.184	+0.329%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.148	+0.057%	$403K	$307K	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	13.144	+0.021%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.144	+0.020%	$275K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.146	+0.038%	$122.1M	$299.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.144	+0.023%	$84.7M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.135	−0.046%	$27.5M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.158	+0.129%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.141	0.000%	$130.2M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.142	+0.008%	$36.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.147	+0.046%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.136	−0.038%	$54.5M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.135	−0.046%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	+0.124%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.155	+0.104%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	+0.132%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	+0.129%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.148	+0.053%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.134	−0.052%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.150	+0.072%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.137	−0.030%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.138	−0.023%	$646K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.131	−0.075%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.137	−0.030%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.153	+0.091%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0176%	1h	13.159	+0.137%	$364K	$364K	15x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.141	long leg	$5.2M	$15.4M	75x
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.146	+0.035%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.138	−0.026%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0454%	1h	13.141	−0.002%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0552%	1h	13.161	+0.152%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0689%	8h	13.155	+0.107%	$20.4M	$11.6M	50x	as long as short