Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Binance against Coinbase International−0.196%7-day average −0.016% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 3 days (all we have)+0.124%+$12 · spread now −0.196%, 7d avg −0.016%

Together, before fees+0.138%+$14 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: Binance is 0.180% cheaper against Coinbase International than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.191	0.0104	pay 0.0013% / 1h	13m 23s	$992K	$2.8M	50x
Short	Binance LINKUSDT	13.165	0.0100	get 0.0100% / 8h	2h 13m	$122.2M	$301.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.196%Rate

Funding earned: −$0.84
Price spread: −0.196% → −0.016%: −$18.04
Slippage, 4 orders: −$15.09
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$53.97
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Binance: live order book, 15 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 Coinbase International live order book, 5 min ago	2.28 bp	11.5 bp −$12	17.1 bp −$171	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.38 bp	6.9 bp −$7	13.0 bp −$130	34.6 bp −$3,462	116.0 bp −$58.0K

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 −0.0092% / S +0.0167%	1h	13.191	+0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.178	−0.099%	$483K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.196	+0.035%	$720K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.193	+0.015%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0015%	1h	13.174	−0.129%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	−0.048%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.997%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.187	−0.030%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.176	−0.110%	$2.1M	$2.4M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	13.185	−0.046%	$3.3M	$1.5M	—	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	13.169	−0.163%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.162	−0.224%	$400K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.173	−0.136%	$77.6M	$23.7M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.179	−0.091%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.175	−0.119%	$276K	$150K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	13.165	−0.196%	$122.2M	$301.8M	75x
Bybit LINKUSDT	+0.0100%	8h	13.161	−0.227%	$84.8M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.160	−0.235%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	−0.015%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.174	−0.129%	$130.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	−0.136%	$37.1M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.175	−0.121%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.156	−0.265%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.171	−0.152%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.182	−0.067%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.187	−0.030%	$595K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.184	−0.053%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.164	−0.205%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.187	−0.027%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.206	+0.116%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.192	+0.008%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.166	−0.188%	$647K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.167	−0.180%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.193	+0.016%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.191	long leg	$992K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0116%	1h	13.201	+0.076%	$366K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.179	−0.091%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.158	−0.254%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.204	+0.099%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.200	+0.066%	$7.0M	$7.9M	50x	as long as short