Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.001%

Price spread now: OKX against Coinbase International+0.053%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.053%, 7d avg −0.035%

Together, before fees−0.085%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.089% dearer against Coinbase International than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.035%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.9 days. At the pace of the last 7 days (−0.001% in total) that is about 14 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.140	0.0160	pay 0.0020% / 1h	29m 07s	$994K	$2.8M	50x
Short	OKX LINK-USDT-SWAP	13.147	0.0100	get 0.0100% / 8h	29m 07s	$27.7M	$85.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$12.6
Price spread: +0.053% → −0.035%: $8.86
Slippage, 4 orders: −$19.25
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.99
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	2.66 bp	12.8 bp −$13	15.2 bp −$152	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.38 bp	6.3 bp −$6	14.6 bp −$146	26.5 bp −$2,645	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 +0.0167%	1h	13.146	+0.044%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.150	+0.078%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.156	+0.121%	$726K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.147	+0.051%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.171	+0.234%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.632%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.150	+0.076%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.146	+0.048%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.142	+0.016%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.139	−0.008%	$401K	$311K	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	13.146	+0.045%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.147	+0.051%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	+0.056%	$122.3M	$304.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.146	+0.046%	$84.7M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	13.147	+0.053%	$27.7M	$85.6M	50x
Arcus LINK-USD	+0.0100%	1h	13.161	+0.160%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.148	+0.061%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.150	+0.076%	$36.7M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.152	+0.091%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.147	+0.053%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.148	+0.061%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	+0.046%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	+0.168%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.039%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.173	+0.251%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.147	+0.053%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.148	+0.063%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.158	+0.139%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.151	+0.084%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.098%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.148	+0.058%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.154	+0.104%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0160%	1h	13.140	long leg	$994K	$2.8M	50x
BloFin LINK-USDT	+0.0220%	8h	13.143	+0.023%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0247%	1h	13.159	+0.145%	$363K	$379K	15x	as long as short
Hyperliquid LINK	+0.0277%	1h	13.165	+0.190%	$78.0M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.143	+0.019%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.161	+0.160%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0483%	8h	13.163	+0.175%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0670%	1h	13.142	+0.012%	$348K	$48K	10x	as long as short