Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.008%

Price spread now: KuCoin against Coinbase International+0.100%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.246%−$25 · spread now +0.100%, 7d avg −0.020%

Together, before fees−0.256%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and KuCoin is 0.120% dearer against Coinbase International than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	12.977	0.0064	pay 0.0008% / 1h	40m 12s	$937K	$2.7M	50x
Short	KuCoin LINKUSDTM	12.990	0.0100	get 0.0100% / 8h	5h 40m	$23.0M	$13.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.100%Rate

Funding earned: $7.56
Price spread: +0.100% → −0.020%: $12.05
Slippage, 4 orders: −$29.31
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$31.7
Costs to cover: 0.513%
Break-even: 36.4 days

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: live order book, 4 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	2.31 bp	11.2 bp −$11	15.2 bp −$152	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.15 bp	13.6 bp −$14	19.3 bp −$193	64.9 bp −$6,492	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 −0.0090% / S +0.0167%	1h	12.982	+0.037%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.989	+0.092%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.984	+0.056%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.446%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0064%	1h	12.977	long leg	$937K	$2.7M	50x
Orderly PERP_LINK_USDC	+0.0067%	8h	12.981	+0.031%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.984	+0.055%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	+0.045%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.991	+0.105%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.989	+0.096%	$395K	$315K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.989	+0.092%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.987	+0.075%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.983	+0.048%	$119.7M	$296.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.980	+0.023%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.982	+0.039%	$27.4M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.003	+0.200%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.982	+0.039%	$128.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.981	+0.031%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.990	+0.100%	$23.0M	$13.6M	75x
Bitget LINKUSDT	+0.0100%	8h	12.979	+0.015%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.983	+0.046%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.046%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.006	+0.222%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.259%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.262%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.994	+0.131%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.983	+0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.007	+0.230%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.984	+0.054%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.968	−0.066%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.979	+0.014%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.986	+0.071%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0105%	1h	12.988	+0.085%	$339K	$378K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0151%	1h	12.989	+0.089%	$771K	$193K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.979	+0.015%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.984	+0.057%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0408%	1h	12.983	+0.045%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.984	+0.058%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0615%	8h	13.001	+0.185%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0676%	1h	12.999	+0.170%	$81.2M	$27.1M	10x	as long as short