Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.036%

Price spread now: BloFin against Extended+0.045%54s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.306% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.045%, 7d avg +0.050%

Together, before fees+0.258%+ Points / potential airdropExtended: Active · farm board+$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	12.980	0.0104	pay 0.0013% / 1h	32m 16s	$631K	$2.0M	25x
Short	BloFin LINK-USDT	12.986	0.0220	get 0.0220% / 8h	3h 32m	$5.3M	$15.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.045%Rate

Funding earned: $24.36
Price spread: +0.045% → +0.050%: −$0.48
Slippage, 4 orders: −$13.58
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.71
Costs to cover: 0.306%
Break-even: 8.9 days

Slippage from Extended: live order book, 1 min ago; BloFin: live order book, 7 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, 1 min ago	2.31 bp	5.5 bp −$6	6.5 bp −$65	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	2.31 bp	8.8 bp −$9	13.1 bp −$131	29.3 bp −$2,928	65.8 bp −$32.9K

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 −0.0089% / S +0.0166%	1h	12.984	+0.033%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.991	+0.087%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.984	+0.030%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.470%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.983	+0.022%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.008	+0.212%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.984	+0.032%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.988	+0.063%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.982	+0.018%	$392K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.987	+0.053%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.991	+0.080%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.984	+0.026%	$120.6M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.980	−0.001%	$83.9M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.983	+0.022%	$27.5M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.000	+0.153%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.983	+0.022%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.984	+0.030%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.989	+0.068%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.987	+0.053%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.982	+0.014%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.992	+0.091%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.976	−0.030%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.984	+0.031%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+0.039%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.013	+0.253%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.990	+0.076%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.983	+0.023%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.002	+0.166%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.984	+0.030%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.967	−0.103%	$636K	$694K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.980	long leg	$631K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.985	+0.037%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.996	+0.122%	$925K	$2.8M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.986	+0.045%	$5.3M	$15.8M	75x
Deribit LINK_USDC-PERPETUAL	+0.0227%	1h	12.991	+0.083%	$789K	$210K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.987	+0.054%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0355%	1h	12.998	+0.139%	$81.2M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.981	+0.005%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0537%	8h	13.001	+0.160%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0621%	1h	12.984	+0.032%	$344K	$30K	10x	as long as short