LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0126%/8h= +13.7% APRnext payment +$0.16 per $10,000 · paid last 24h +0.015%

Price spread now: Backpack against Extended+0.021%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.021%, 7d avg +0.091%

Together, before fees+0.069%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.071% cheaper against Extended than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.091%). If the spread goes back, that is −$7 on $10k: about 45 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.047% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	13.157	0.0104	pay 0.0013% / 1h	49m 30s	$740K	$1.9M	25x
Short	Backpack LINK_USDC_PERP	13.160	0.0230	get 0.0029% / 1h	49m 30s	$365K	$375K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now +0.021%Rate

Funding earned: $26.36
Price spread: +0.021% → +0.091%: −$7.06
Slippage, 4 orders: −$9.84
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$5.54
Costs to cover: 0.248%
Break-even: 8.5 days

Slippage from Extended: live order book, 4 min ago; Backpack: live order book, 24 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 Extended live order book, 4 min ago	1.52 bp	6.4 bp −$6	9.0 bp −$90	doesn't fit	doesn't fit
Sell Backpack live order book, 24 min ago	0.38 bp	6.8 bp −$7	626.1 bp −$6,261	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	13.152	−0.038%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.157	−0.004%	$468K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.149	−0.067%	$759K	$179K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.155	−0.021%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.756%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.154	−0.026%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.145	−0.093%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.152	−0.040%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.150	−0.053%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.150	−0.051%	$402K	$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	13.161	+0.026%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.157	+0.001%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.153	−0.032%	$122.2M	$306.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.155	−0.017%	$84.9M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.157	−0.002%	$27.9M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.174	+0.127%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.156	−0.010%	$130.4M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.155	−0.017%	$36.5M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.164	+0.051%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.155	−0.017%	$54.7M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.154	−0.025%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.145	−0.090%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.171	+0.101%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.170	+0.097%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.144	−0.101%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.160	+0.021%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.141	−0.124%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.171	+0.106%	$33K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.146	−0.086%	$5K	$31K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.142	−0.115%	$646K	$874K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	13.157	long leg	$740K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.146	−0.082%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.156	−0.010%	$1.0M	$2.8M	50x	as long as short
dYdX LINK-USD	+0.0219%	1h	13.156	−0.011%	$348K	$48K	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.156	−0.010%	$5.2M	$16.7M	75x	as long as short
Backpack LINK_USDC_PERPshort	+0.0230%	1h	13.160	+0.021%	$365K	$375K	15x
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.151	−0.050%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.154	−0.028%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0483%	8h	13.159	+0.013%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0486%	1h	13.176	+0.142%	$79.8M	$24.7M	10x	as long as short