Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.012%

Price spread now: BingX against Extended+0.007%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.007%, 7d avg +0.040%

Together, before fees+0.052%+ Points / potential airdropExtended: Active · farm board+$5 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: BingX is 0.033% cheaper against Extended than usual: you would sell low and buy high, −$3 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	Extended LINK-USD	12.941	0.0104	pay 0.0013% / 1h	33m 06s	$658K	$1.9M	25x
Short	BingX LINK-USDT	12.942	0.0100	get 0.0100% / 8h	6h 33m	—	$23.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$0.84
Price spread: +0.007% → +0.040%: −$3.28
Slippage, 4 orders: −$8.26
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$27.38
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; BingX: live order book, 10 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, 5 min ago	1.94 bp	5.9 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	0.77 bp	7.1 bp −$7	12.7 bp −$127	25.5 bp −$2,551	48.2 bp −$24.1K

LINK on 39 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	12.946	+0.039%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.953	+0.090%	$472K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.944	+0.024%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.181%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	+0.286%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.942	+0.007%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.958	+0.131%	$953K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.941	−0.002%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.986	+0.347%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.945	+0.028%	$394K	$322K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.951	+0.075%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.942	+0.004%	$274K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.951	+0.075%	$118.9M	$306.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.949	+0.061%	$83.5M	$72.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.958	+0.131%	$27.2M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.955	+0.108%	$181K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.944	+0.023%	$127.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.942	+0.007%	$33.5M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.947	+0.046%	$22.5M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.946	+0.038%	$53.9M	$31.3M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	12.942	+0.007%	—	$23.0M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.950	+0.069%	$337K	$394K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.955	+0.111%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.955	+0.106%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	+0.160%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	+0.131%	$133K	$684K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.948	+0.054%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.942	+0.004%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.958	+0.132%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.945	+0.030%	$14K	$44K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.928	−0.098%	$638K	$864K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.941	long leg	$658K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	12.949	+0.061%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0175%	1h	12.950	+0.069%	$769K	$212K	50x	as long as short
dYdX LINK-USD	+0.0281%	1h	12.940	−0.008%	$343K	$48K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.942	+0.006%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0391%	1h	12.956	+0.115%	$79.4M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	12.949	+0.059%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0665%	8h	12.959	+0.139%	$20.0M	$11.5M	50x	as long as short