Funding arb · Price arb /

LINK

all LINK markets

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: SunX against Coinbase International+0.002%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$640.638% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now +0.002%, 7d avg +0.081%

Together, before fees+0.172%+$17 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: SunX is 0.080% cheaper against Coinbase International than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.079	0.0104	pay 0.0013% / 1h	49m 34s	$986K	$2.7M	50x
Short	SunX LINK-USDT	13.079	0.0100	get 0.0100% / 8h	2h 49m	$34K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$0.84
Price spread: +0.002% → +0.081%: −$7.99
Slippage, 4 orders: −$45.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$72.63
Costs to cover: 0.638%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; SunX: 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, 4 min ago	3.06 bp	14.1 bp −$14	17.3 bp −$173	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	13.67 bp	19.2 bp −$19	doesn't fit	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 +0.0165%	1h	13.071	−0.060%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.077	−0.017%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.075	−0.031%	$701K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.074	−0.041%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	−0.044%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.192%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0037%	8h	13.058	−0.164%	$3.2M	$1.5M	—	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.064	−0.115%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0071%	1h	13.083	+0.028%	$347K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.082	+0.023%	$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	13.076	−0.020%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.076	−0.023%	$397K	$319K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.082	+0.023%	$77.4M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.086	+0.050%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.080	+0.008%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.075	−0.031%	$120.9M	$300.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.075	−0.031%	$84.4M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.076	−0.023%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.093	+0.107%	$184K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.077	−0.015%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.071	−0.061%	$35.5M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.087	+0.061%	$21.9M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.076	−0.023%	$54.1M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.081	+0.015%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.088	+0.069%	$362K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.089	+0.078%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.062	−0.131%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.060	−0.145%	$152K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.082	+0.023%	$79K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.068	−0.084%	$22K	$16K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.079	+0.002%	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.074	−0.038%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.040	−0.298%	$638K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.078	−0.008%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.075	−0.032%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.079	long leg	$986K	$2.7M	50x
BloFin LINK-USDT	+0.0220%	8h	13.049	−0.229%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.076	−0.023%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.085	+0.048%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0515%	8h	13.086	+0.054%	$20.2M	$11.5M	50x	as long as short