Funding arb · Price arb /

LINK

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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: edgeX against Coinbase International+0.041%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 3 days (all we have)−0.179%−$18 · spread now +0.041%, 7d avg −0.042%

Together, before fees−0.098%+ Points / potential airdropedgeX: Active · farm board−$10 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: edgeX is 0.084% dearer against Coinbase International than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.100	0.0104	pay 0.0013% / 1h	54m 49s	$990K	$2.7M	50x
Short	edgeX LINKUSDC	13.105	0.0100	get 0.0050% / 4h	2h 54m	$43K	$306K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$0.84
Price spread: +0.041% → −0.042%: $8.38
Slippage, 4 orders: −$20.5
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$31.97
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; edgeX: live order book, 33 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, 4 min ago	3.05 bp	13.5 bp −$14	18.4 bp −$184	doesn't fit	doesn't fit
Sell edgeX live order book, 33 min ago	2.65 bp	7.1 bp −$7	10.4 bp −$104	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 −0.0091% / S +0.0166%	1h	13.133	+0.248%	$1.7M	—	200x	as long as short
Phoenix LINK	−0.0012%	1h	13.127	+0.210%	$3K	$84K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.103	+0.026%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.125	+0.188%	$457K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.133	+0.248%	$83K	—	150x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.072%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.344%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0039%	1h	13.141	+0.315%	$700K	$106K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	13.131	+0.237%	$135K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.140	+0.308%	$2.1M	$2.3M	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	13.107	+0.056%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.123	+0.179%	$397K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.113	+0.099%	$78.1M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.129	+0.219%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.110	+0.073%	$275K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.106	+0.042%	$121.2M	$300.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.099	−0.008%	$84.8M	$68.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.101	+0.008%	$27.7M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.125	+0.191%	$184K	$169K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.109	+0.069%	$130.7M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.106	+0.046%	$35.8M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.133	+0.252%	$21.9M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.099	−0.008%	$54.2M	$29.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.102	+0.015%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.145	+0.344%	$364K	$370K	15x	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	13.105	+0.041%	$43K	$306K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.113	+0.101%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.069%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.129	+0.221%	$80K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.134	+0.258%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.148	+0.368%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.136	+0.275%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.104	+0.027%	$641K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.102	+0.016%	$668K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.141	+0.314%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.100	long leg	$990K	$2.7M	50x
BloFin LINK-USDT	+0.0220%	8h	13.132	+0.244%	$5.3M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.128	+0.212%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0496%	8h	13.152	+0.397%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.145	+0.342%	$7.0M	$7.7M	50x	as long as short