Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended+0.006%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$250.246% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.006%, 7d avg +0.026%

Together, before fees−0.018%+ Points / potential airdropExtended: Active · farm board−$2 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: Bybit is 0.020% cheaper against Extended than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	13.166	0.0104	pay 0.0013% / 1h	44m 33s	$740K	$1.9M	25x
Short	Bybit LINKUSDT	13.167	0.0100	get 0.0100% / 8h	7h 44m	$84.9M	$71.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$0.84
Price spread: +0.006% → +0.026%: −$2.03
Slippage, 4 orders: −$8.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.44
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Bybit: live order book, 4 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	2.28 bp	5.5 bp −$6	6.9 bp −$69	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.38 bp	8.2 bp −$8	14.2 bp −$142	37.1 bp −$3,706	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	13.164	−0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.164	−0.018%	$467K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.170	+0.029%	$762K	$181K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.166	−0.005%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.820%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.161	−0.037%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0045%	8h	13.162	−0.032%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.174	+0.062%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.167	+0.007%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.163	−0.023%	$403K	$312K	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	13.180	+0.101%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.174	+0.057%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.169	+0.021%	$122.3M	$306.1M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.167	+0.006%	$84.9M	$71.6M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.170	+0.029%	$27.9M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.185	+0.143%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.171	+0.036%	$130.5M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	+0.051%	$36.7M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.181	+0.112%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.169	+0.021%	$54.8M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.171	+0.036%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	−0.150%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.152	−0.108%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.150	−0.126%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.156	−0.078%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.169	+0.021%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.163	−0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.181	+0.115%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.164	−0.017%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.146	−0.151%	$647K	$874K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	13.166	long leg	$740K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.166	−0.003%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.168	+0.013%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0180%	1h	13.189	+0.173%	$366K	$369K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.165	−0.009%	$5.2M	$16.7M	75x	as long as short
dYdX LINK-USD	+0.0233%	1h	13.170	+0.029%	$349K	$48K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.173	+0.051%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.162	−0.032%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0402%	8h	13.180	+0.105%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0507%	1h	13.197	+0.232%	$80.4M	$24.9M	10x	as long as short