Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Pacifica against Bybit+0.132%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.132%, 7d avg +0.037%

Together, before fees−0.083%+ Points / potential airdropPacifica: Active · farm board−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.096% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	12.838	0.0100	pay 0.0100% / 8h	2h 32m	$82.8M	$73.4M	75x
Short	Pacifica LINK	12.855	0.0100	get 0.0013% / 1h	32m 17s	$274K	$186K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bybit. 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 BybitbpFee PacificabpOrdersPrice spread, now +0.132%Rate

Funding earned: $0
Price spread: +0.132% → +0.037%: $9.55
Slippage, 4 orders: −$16.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$25.92
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Pacifica: live order book, 16 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 Bybit live order book, 2 min ago	0.39 bp	6.8 bp −$7	13.0 bp −$130	36.2 bp −$3,617	doesn't fit
Sell Pacifica live order book, 16 min ago	4.64 bp	9.7 bp −$10	doesn't fit	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 −0.0089% / S +0.0166%	1h	12.844	+0.044%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.852	+0.110%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.845	+0.052%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.412%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0046%	8h	12.838	0.000%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.887	+0.386%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.843	+0.041%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.856	+0.139%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.851	+0.097%	$343K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.843	+0.036%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINKshort	+0.0100%	1h	12.855	+0.132%	$274K	$186K	10x
Binance LINKUSDT	+0.0100%	8h	12.842	+0.032%	$118.4M	$302.3M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.838	long leg	$82.8M	$73.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.840	+0.016%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.868	+0.234%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.840	+0.016%	$123.8M	$14.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.842	+0.031%	$32.9M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.844	+0.047%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.841	+0.023%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.846	+0.062%	—	$22.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.852	+0.109%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	+0.269%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.894	+0.435%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.880	+0.327%	$589K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.899	+0.475%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.856	+0.140%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.838	+0.003%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.861	+0.177%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.841	+0.023%	$10K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.827	−0.083%	$630K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.836	−0.019%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.841	+0.024%	$538K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0116%	1h	12.846	+0.061%	$793K	$239K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.866	+0.218%	$915K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.843	+0.039%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0229%	1h	12.856	+0.140%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.841	+0.022%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.840	+0.017%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0588%	8h	12.856	+0.140%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0865%	1h	12.853	+0.121%	$342K	$33K	10x	as long as short