Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.003%

Price spread now: SunX against Extended+0.217%7-day average +0.148% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.217%, 7d avg +0.148%

Together, before fees−0.044%+ Points / potential airdropExtended: Active · farm board−$4 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: SunX is 0.069% dearer against Extended than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.148%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	12.881	0.0104	pay 0.0013% / 1h	52m 41s	$625K	$1.8M	25x
Short	SunX LINK-USDT	12.909	0.0100	get 0.0100% / 8h	4h 52m	$33K	$1.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.217%Rate

Funding earned: −$0.84
Price spread: +0.217% → +0.148%: $6.92
Slippage, 4 orders: −$32.54
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$39.46
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; SunX: 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	0.39 bp	2.9 bp −$3	7.1 bp −$71	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	13.67 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit

LINK on 40 exchanges

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
Orderly PERP_LINK_USDC	−0.0247%	8h	12.885	+0.029%	$84K	$832K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.891	+0.071%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.907	+0.201%	$479K	$2.0M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.890	+0.065%	$114K	—	150x	as long as short
Phoenix LINK	+0.0025%	1h	12.914	+0.253%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.736%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0069%	8h	12.891	+0.076%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.888	+0.052%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.881	−0.006%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.886	+0.036%	$345K	$274K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.890	+0.068%	$81.1M	$25.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.896	+0.113%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.885	+0.030%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.883	+0.017%	$119.8M	$264.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.877	−0.033%	$83.7M	$66.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.882	+0.005%	$27.4M	$72.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.905	+0.184%	$180K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.887	+0.044%	$132.9M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.884	+0.021%	$35.8M	$52.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.892	+0.083%	$23.0M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.889	+0.060%	$53.9M	$25.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.883	+0.013%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.896	+0.114%	$324K	$349K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.904	+0.180%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.907	+0.199%	$581K	$3.2M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.913	+0.246%	$104K	$686K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.892	+0.083%	$82K	$57K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.891	+0.072%	$16K	$18K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	12.909	+0.217%	$33K	$1.2M	30x
SoDEX LINK-USD	+0.0100%	1h	12.895	+0.106%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.879	−0.016%	$611K	$696K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.881	long leg	$625K	$1.8M	25x
Aevo LINK-PERP	+0.0104%	1h	12.894	+0.102%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.906	+0.192%	$983K	$3.0M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0216%	1h	12.898	+0.128%	$6.6M	$7.5M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.895	+0.106%	$5.4M	$15.1M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0378%	1h	12.901	+0.154%	$889K	$361K	50x	as long as short
Phemex LINKUSDT	+0.0398%	8h	12.908	+0.207%	$20.0M	$10.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0410%	1h	12.883	+0.014%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0998%	1h	12.887	+0.041%	$347K	$20K	10x	as long as short