Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0034%/8h= −3.8% APRpaid last 24h −0.006%

Price spread now: Orderly against edgeX−0.127%7-day average +0.051% · you buy dearer than you sell

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now −0.127%, 7d avg +0.051%

Together, before fees+0.188%+ Points / potential airdropedgeX: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.178% cheaper against edgeX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	13.155	0.0100	pay 0.0050% / 4h	3h 18m	$44K	$310K	20x
Short	Orderly PERP_LINK_USDC	13.138	0.0066	get 0.0066% / 8h	7h 18m	$133K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.127%Rate

Funding earned: −$7.23
Price spread: −0.127% → +0.051%: −$17.77
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$40
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 54 min ago; Orderly: no order-book sample. 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 edgeX live order book, 54 min ago	2.67 bp	7.2 bp −$7	10.9 bp −$109	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	13.150	−0.036%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.154	−0.003%	$475K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.133	−0.163%	$780K	$211K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.148	−0.052%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.737%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.168	+0.097%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDCshort	+0.0066%	8h	13.138	−0.127%	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.120	−0.266%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.212	+0.433%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.146	−0.062%	$403K	$307K	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	13.125	−0.226%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.151	−0.031%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.114	−0.309%	$121.8M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.113	−0.317%	$84.5M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.115	−0.302%	$27.5M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.164	+0.071%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.115	−0.302%	$129.9M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.120	−0.264%	$36.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.127	−0.210%	$22.9M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.112	−0.324%	$54.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.117	−0.286%	—	$21.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	+0.020%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.155	long leg	$44K	$310K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	+0.028%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	+0.025%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.154	−0.005%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.141	−0.105%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.158	+0.028%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.122	−0.248%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.100	−0.416%	$644K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.113	−0.320%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.141	−0.104%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.140	−0.112%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0180%	1h	13.131	−0.180%	$363K	$367K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.134	−0.157%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0366%	1h	13.130	−0.190%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.150	−0.039%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0419%	1h	13.146	−0.068%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0554%	1h	13.137	−0.134%	$81.1M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0695%	8h	13.141	−0.104%	$20.3M	$11.6M	50x	as long as short