Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.043%

Price spread now: SoDEX against BloFin+0.046%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SoDEX is 0.046% dearer against BloFin than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.914	0.0220	pay 0.0220% / 8h	7h 56m	$5.3M	$15.9M	75x
Short	SoDEX LINK-USD	12.920	0.0100	get 0.0013% / 1h	56m 59s	$10K	$62K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$25.2
Price spread: +0.046% → 0.000%: $4.65
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$40.55
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 12 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 12 min ago	0.77 bp	7.8 bp −$8	11.4 bp −$114	26.9 bp −$2,691	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Orderly PERP_LINK_USDC	−0.0100%	8h	12.914	0.000%	$91K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.919	+0.040%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	12.908	−0.046%	$344K	$45K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.915	+0.009%	$515K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.919	+0.038%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.980%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.924	+0.075%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	−0.033%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.921	+0.052%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.915	+0.007%	$31K	$2K	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	12.912	−0.012%	$349K	$336K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.929	+0.116%	$80.7M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.918	+0.029%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.911	−0.022%	$275K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.917	+0.026%	$119.4M	$298.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.912	−0.015%	$83.7M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.918	+0.031%	$27.1M	$80.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.930	+0.124%	$181K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.920	+0.046%	$134.1M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.917	+0.023%	$35.0M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.921	+0.054%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.914	0.000%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.916	+0.015%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.879	−0.273%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.892	−0.167%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.889	−0.191%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.899	−0.116%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	+0.031%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.919	+0.041%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.935	+0.161%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USDshort	+0.0100%	1h	12.920	+0.046%	$10K	$62K	10x
HTX LINK-USDT	+0.0100%	8h	12.892	−0.170%	$630K	$750K	75x	as long as short
Phemex LINKUSDT	+0.0100%	8h	12.938	+0.186%	$20.0M	$11.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.913	−0.006%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.922	+0.062%	$542K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0175%	1h	12.931	+0.132%	$336K	$385K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.923	+0.070%	$929K	$3.0M	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.914	long leg	$5.3M	$15.9M	75x
Deribit LINK_USDC-PERPETUAL	+0.0238%	1h	12.927	+0.100%	$809K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.912	−0.014%	$4K	—	20x	as long as short