Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.038%

Price spread now: BloFin against Coinbase International−0.137%58s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.407% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.137%, 7d avg −0.011%

Together, before fees+0.370%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.127% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of −0.011%). If the spread goes back, that is −$13 on $10k: about 3.6 days of funding at the current rate (+$3 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.099	0.0104	pay 0.0013% / 1h	48m 12s	$988K	$2.7M	50x
Short	BloFin LINK-USDT	13.081	0.0220	get 0.0220% / 8h	2h 48m	$5.2M	$16.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.137%Rate

Funding earned: $24.36
Price spread: −0.137% → −0.011%: −$12.65
Slippage, 4 orders: −$18.75
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$29.04
Costs to cover: 0.407%
Break-even: 15.3 days

Slippage from Coinbase International: live order book, 1 min ago; BloFin: live order book, 6 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	1.53 bp	12.1 bp −$12	16.4 bp −$164	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	2.68 bp	8.8 bp −$9	12.7 bp −$127	27.4 bp −$2,739	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 +0.0165%	1h	13.092	−0.052%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.099	−0.003%	$456K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.095	−0.033%	$702K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.095	−0.034%	$82K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	−0.197%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.336%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0037%	8h	13.058	−0.316%	$3.2M	$1.5M	—	as long as short
Orderly PERP_LINK_USDC	+0.0055%	8h	13.084	−0.115%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0064%	1h	13.099	0.000%	$347K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.096	−0.026%	$2.1M	$2.4M	10x	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	13.096	−0.026%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.089	−0.076%	$397K	$319K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.096	−0.023%	$77.3M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.094	−0.039%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.094	−0.037%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.088	−0.084%	$121.0M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.089	−0.076%	$84.5M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.089	−0.076%	$27.6M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.103	+0.031%	$184K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.092	−0.053%	$130.4M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.088	−0.084%	$35.6M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.095	−0.031%	$21.9M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.088	−0.084%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.092	−0.053%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.086	−0.099%	$362K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.089	−0.075%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.062	−0.284%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.060	−0.298%	$152K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.091	−0.061%	$80K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.090	−0.069%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.106	+0.056%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.091	−0.061%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.084	−0.115%	$640K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.088	−0.081%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.093	−0.042%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.099	long leg	$988K	$2.7M	50x
BloFin LINK-USDTshort	+0.0220%	8h	13.081	−0.137%	$5.2M	$16.7M	75x
Reya LINKRUSDPERP	+0.0372%	1h	13.089	−0.073%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0503%	8h	13.108	+0.069%	$20.2M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.103	+0.033%	$7.0M	$7.7M	50x	as long as short