Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.007%

Price spread now: HTX against Coinbase International−0.364%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$820.816% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 3 days (all we have)+0.274%+$27 · spread now −0.364%, 7d avg −0.096%

Together, before fees+0.344%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.268% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.364% now, against its 7-day average of −0.096%). If the spread goes back, that is −$27 on $10k: about 32 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.032	0.0072	pay 0.0009% / 1h	26m 39s	$957K	$2.7M	50x
Short	HTX LINK-USDT	12.985	0.0100	get 0.0100% / 8h	6h 26m	$640K	$860K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.364%Rate

Funding earned: $5.88
Price spread: −0.364% → −0.096%: −$26.77
Slippage, 4 orders: −$59.63
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$102.52
Costs to cover: 0.816%
Break-even: 129.0 days

Slippage from Coinbase International: live order book, 2 min ago; HTX: live order book, 42 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, 2 min ago	3.46 bp	13.8 bp −$14	16.8 bp −$168	doesn't fit	doesn't fit
Sell HTX live order book, 42 min ago	20.97 bp	27.1 bp −$27	180.0 bp −$1,800	doesn't fit	doesn't fit

LINK on 39 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 −0.0090% / S +0.0167%	1h	13.024	−0.058%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.031	−0.005%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.026	−0.049%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.850%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.972	−0.459%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.022	−0.077%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0072%	1h	13.032	long leg	$957K	$2.7M	50x
Lighter LINK	+0.0096%	1h	13.037	+0.038%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.045	+0.097%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.029	−0.023%	$396K	$316K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.032	+0.001%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.039	+0.055%	$276K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.039	+0.052%	$119.7M	$303.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.041	+0.069%	$84.1M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.045	+0.100%	$27.4M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.040	+0.061%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.024	−0.061%	$128.5M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.044	+0.092%	$33.2M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.044	+0.092%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.029	−0.023%	$54.2M	$31.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.027	−0.038%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.952	−0.610%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.982	−0.385%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.514%	$589K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.992	−0.307%	$133K	$677K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.032	0.000%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.023	−0.071%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.034	+0.018%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.022	−0.077%	$15K	$41K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.985	−0.364%	$640K	$860K	75x
Extended LINK-USD	+0.0104%	1h	13.020	−0.092%	$695K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.024	−0.061%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0109%	1h	13.032	0.000%	$339K	$385K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0188%	1h	13.030	−0.015%	$774K	$212K	50x	as long as short
dYdX LINK-USD	+0.0278%	1h	13.028	−0.032%	$345K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.026	−0.042%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0425%	1h	13.049	+0.130%	$80.5M	$26.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.027	−0.041%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0605%	8h	13.034	+0.015%	$20.1M	$11.5M	50x	as long as short