Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Pacifica against Derive−0.066%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.066% cheaper against Derive than usual: you would sell low and buy high, −$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LINK-PERP	12.996	0.0100	pay 0.0013% / 1h	11m 48s	$16K	$22K	10x
Short	Pacifica LINK	12.987	0.0100	get 0.0013% / 1h	11m 48s	$275K	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Derive. 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 DerivebpFee PacificabpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → 0.000%: −$6.56
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$20.56
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Pacifica: live order book, 56 min ago. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 56 min ago	5.31 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	12.995	−0.009%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.007	+0.085%	$475K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.996	−0.001%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.586%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.002	+0.047%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.994	−0.015%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.998	+0.016%	$953K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.985	−0.082%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.994	−0.019%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.992	−0.026%	$395K	$322K	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	12.997	+0.010%	$1.3M	$3.0M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	12.987	−0.066%	$275K	$172K	10x
Binance LINKUSDT	+0.0100%	8h	12.987	−0.067%	$119.3M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.983	−0.100%	$83.8M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.983	−0.100%	$27.3M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.011	+0.116%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.991	−0.038%	$128.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.023%	$33.0M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.995	−0.007%	$23.1M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.990	−0.046%	$54.0M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.987	−0.069%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.053%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	−0.036%	$43K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.997	+0.011%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.995	−0.007%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.002	+0.047%	$81K	$70K	10x	as long as short
Derive LINK-PERPlong	+0.0100%	1h	12.996	long leg	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.007	+0.086%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.995	−0.007%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.920	−0.587%	$637K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.990	−0.047%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.998	+0.012%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0125%	1h	13.001	+0.039%	$338K	$383K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0150%	1h	13.000	+0.030%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.993	−0.020%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0390%	1h	12.987	−0.072%	$344K	$35K	10x	as long as short
Hyperliquid LINK	+0.0462%	1h	13.004	+0.062%	$80.7M	$26.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.999	+0.021%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0601%	8h	13.010	+0.108%	$20.1M	$11.5M	50x	as long as short