Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0389%/8h= +42.6% APRpaid last 24h +0.065%

Price spread now: Phemex against edgeX+0.112%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now +0.112%, 7d avg +0.122%

Together, before fees+0.272%+ Points / potential airdropedgeX: Active · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.122%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.199% in total (about 10.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	13.104	0.0100	pay 0.0050% / 4h	6m 26s	$43K	$308K	20x
Short	Phemex LINKUSDT	13.119	0.0489	get 0.0489% / 8h	6m 26s	$20.3M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.112%Rate

Funding earned: $81.73
Price spread: +0.112% → +0.122%: −$0.99
Slippage, 4 orders: −$12.3
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: $47.44
Costs to cover: 0.333%
Break-even: 2.9 days

Slippage from edgeX: live order book, 7 min ago; Phemex: live order book, 3 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, 7 min ago	2.67 bp	7.2 bp −$7	10.9 bp −$109	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.76 bp	9.1 bp −$9	13.3 bp −$133	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 +0.0167%	1h	13.089	−0.115%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.112	+0.056%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.093	−0.084%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.091	−0.105%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.110	+0.040%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.375%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.086	−0.140%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.097	−0.058%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.090	−0.108%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.095	−0.071%	$400K	$310K	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	13.099	−0.040%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.098	−0.046%	$275K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.087	−0.131%	$121.6M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.088	−0.124%	$84.3M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.088	−0.124%	$27.5M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.110	+0.043%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.093	−0.086%	$129.8M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.092	−0.094%	$36.2M	$58.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.097	−0.056%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.093	−0.086%	$54.4M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.088	−0.124%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.142%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.104	long leg	$43K	$308K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.107	+0.021%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.106	+0.013%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.096	−0.063%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.087	−0.132%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.108	+0.027%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.089	−0.117%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.092	−0.092%	$644K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.085	−0.148%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.091	−0.100%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.111	+0.051%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0213%	1h	13.113	+0.066%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.097	−0.056%	$5.2M	$16.2M	75x	as long as short
Hyperliquid LINK	+0.0291%	1h	13.107	+0.021%	$77.7M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.087	−0.134%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.099	−0.040%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDTshort	+0.0489%	8h	13.119	+0.112%	$20.3M	$11.6M	50x
dYdX LINK-USD	+0.0521%	1h	13.103	−0.012%	$347K	$48K	10x	as long as short