Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.010%

Price spread now: Extended against edgeX+0.053%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.475%−$48 · spread now +0.053%, 7d avg −0.040%

Together, before fees−0.511%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$51 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: Extended is 0.094% dearer against edgeX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	12.995	0.0100	pay 0.0050% / 4h	1h 43m	$43K	$307K	20x
Short	Extended LINK-USD	13.002	0.0104	get 0.0013% / 1h	43m 32s	$703K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against edgeX. 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 edgeXbpFee ExtendedbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0.84
Price spread: +0.053% → −0.040%: $9.36
Slippage, 4 orders: −$11.13
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$14.93
Costs to cover: 0.251%
Break-even: 131.5 days

Slippage from edgeX: live order book, 19 min ago; Extended: 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 edgeX live order book, 19 min ago	2.30 bp	6.8 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	1.15 bp	5.2 bp −$5	7.0 bp −$70	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 −0.0090% / S +0.0167%	1h	12.987	−0.060%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.997	+0.014%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.988	−0.057%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.580%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.016	+0.161%	$940K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.993	−0.016%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.009	+0.110%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.004	+0.069%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.008	+0.096%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	+0.091%	$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	13.011	+0.119%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	+0.115%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.008	+0.096%	$119.8M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.003	+0.061%	$84.2M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.002	+0.053%	$27.4M	$82.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.022	+0.207%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.006	+0.084%	$128.5M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.008	+0.099%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.015	+0.153%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.011	+0.122%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.009	+0.107%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.184%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	12.995	long leg	$43K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.235%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.003	+0.061%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	+0.161%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.995	−0.001%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.003	+0.060%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.997	+0.014%	$5K	$45K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.991	−0.030%	$641K	$688K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.002	+0.053%	$703K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.998	+0.022%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0112%	1h	13.004	+0.068%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	+0.076%	—	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0243%	1h	13.001	+0.046%	$772K	$193K	50x	as long as short
dYdX LINK-USD	+0.0363%	1h	13.008	+0.098%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.008	+0.102%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	12.999	+0.030%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0612%	8h	13.012	+0.130%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0743%	1h	13.027	+0.245%	$81.9M	$26.7M	10x	as long as short