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 +0.008%

Price spread now: BingX against Coinbase International−0.099%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$380.375% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now −0.099%, 7d avg −0.028%

Together, before fees+0.012%+$1 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: BingX is 0.071% cheaper against Coinbase International than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.161	0.0104	pay 0.0013% / 1h	12m 58s	$990K	$2.8M	50x
Short	BingX LINK-USDT	13.148	0.0100	get 0.0100% / 8h	2h 12m	—	$21.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$0.84
Price spread: −0.099% → −0.028%: −$7.06
Slippage, 4 orders: −$17.53
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$45.44
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; BingX: live order book, 10 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, 1 min ago	2.28 bp	12.5 bp −$13	17.9 bp −$179	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	1.14 bp	6.8 bp −$7	9.3 bp −$93	19.9 bp −$1,993	43.5 bp −$21.8K

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	13.149	−0.090%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.147	−0.108%	$477K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.148	−0.100%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.152	−0.072%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0015%	1h	13.174	+0.099%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	+0.180%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.782%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.145	−0.122%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.144	−0.132%	$2.1M	$2.4M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	13.185	+0.182%	$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	+0.064%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.162	+0.004%	$400K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.154	−0.053%	$77.5M	$23.7M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.149	−0.093%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.175	+0.109%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.150	−0.084%	$122.1M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.146	−0.114%	$84.7M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.147	−0.106%	$27.8M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	+0.213%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.143	−0.137%	$130.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.142	−0.144%	$36.8M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.145	−0.122%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.141	−0.152%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	13.148	−0.099%	—	$21.8M	—
edgeX LINKUSDC	+0.0100%	4h	13.182	+0.160%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.187	+0.198%	$595K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.184	+0.175%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.164	+0.023%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.142	−0.143%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.186	+0.192%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.139	−0.167%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.122	−0.293%	$645K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.141	−0.153%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.148	−0.103%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.161	long leg	$990K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0116%	1h	13.150	−0.084%	$366K	$373K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.143	−0.137%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.158	−0.026%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.159	−0.015%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.150	−0.085%	$6.9M	$7.9M	50x	as long as short