Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.041%

Price spread now: Phoenix against edgeX−0.010%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.238%−$24 on $10k

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	13.204	0.0100	pay 0.0050% / 4h	58m 21s	$44K	$309K	20x
Short	Phoenix LINK	13.203	0.0037	get 0.0005% / 1h	58m 21s	$4K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$13.32
Price spread: −0.010% → 0.000%: −$1.04
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$30.35
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 20 min ago; Phoenix: 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, 20 min ago	2.28 bp	6.8 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 −0.0090% / S +0.0167%	1h	13.228	+0.175%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	+0.125%	$488K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.229	+0.184%	$135K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.092%	$4K	$48K	12x	as long as short
Phoenix LINKshort	+0.0037%	1h	13.203	−0.010%	$4K	$81K	10x
Orderly PERP_LINK_USDC	+0.0041%	8h	13.226	+0.163%	$134K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0083%	1h	13.232	+0.209%	$725K	$128K	50x	as long as short
Lighter LINK	+0.0096%	1h	13.225	+0.155%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.228	+0.175%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.226	+0.159%	$404K	$313K	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	13.235	+0.233%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.227	+0.167%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.230	+0.195%	$123.1M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.224	+0.148%	$85.5M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.230	+0.193%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.240	+0.269%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.230	+0.193%	$131.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.230	+0.193%	$37.2M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.232	+0.209%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.226	+0.163%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.229	+0.186%	—	$21.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.081%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.204	long leg	$44K	$309K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.203	−0.011%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	+0.019%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.234	+0.224%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.223	+0.142%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.245	+0.310%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.227	+0.171%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.199	−0.038%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.223	+0.137%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.230	+0.197%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.222	+0.133%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.216	+0.087%	$5.3M	$17.2M	75x	as long as short
dYdX LINK-USD	+0.0232%	1h	13.223	+0.138%	$350K	$48K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0269%	1h	13.231	+0.201%	$365K	$380K	15x	as long as short
Hyperliquid LINK	+0.0300%	1h	13.245	+0.307%	$78.3M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.229	+0.183%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.233	+0.216%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.236	+0.241%	$7.0M	$8.2M	50x	as long as short