Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.013%

Price spread now: Coinbase International against GRVT+0.144%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now +0.144%, 7d avg +0.034%

Together, before fees+0.032%+ Points / potential airdropGRVT: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.110% dearer against GRVT than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LINK_USDT_Perp	13.203	0.0100	pay 0.0100% / 8h	58m 43s	$596K	$2.7M	10x
Short	Coinbase International LINK-PERP-INTX	13.222	0.0160	get 0.0020% / 1h	58m 43s	$999K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now +0.144%Rate

Funding earned: $12.6
Price spread: +0.144% → +0.034%: $10.96
Slippage, 4 orders: −$21.92
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$17.36
Costs to cover: 0.409%
Break-even: 16.6 days

Slippage from GRVT: live order book, 5 min ago; Coinbase International: live order book, 5 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 GRVT live order book, 5 min ago	0.76 bp	8.6 bp −$9	17.0 bp −$170	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	3.03 bp	12.6 bp −$13	16.2 bp −$162	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 −0.0090% / S +0.0167%	1h	13.217	+0.108%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	+0.137%	$488K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.223	+0.148%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.217	+0.104%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.082%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.203	+0.001%	$4K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.216	+0.099%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.225	+0.167%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.228	+0.186%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.207	+0.034%	$404K	$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	13.223	+0.149%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.227	+0.179%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.225	+0.167%	$123.1M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.228	+0.190%	$85.5M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.232	+0.220%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.240	+0.280%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.221	+0.137%	$131.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.231	+0.212%	$37.2M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.221	+0.137%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.225	+0.167%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.230	+0.205%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.070%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	+0.011%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perplong	+0.0100%	8h	13.203	long leg	$596K	$2.7M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	+0.030%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.216	+0.099%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.213	+0.073%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.225	+0.170%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.220	+0.129%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.199	−0.027%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.226	+0.174%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.220	+0.125%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0160%	1h	13.222	+0.144%	$999K	$2.8M	50x
BloFin LINK-USDT	+0.0220%	8h	13.216	+0.099%	$5.3M	$17.2M	75x	as long as short
dYdX LINK-USD	+0.0232%	1h	13.223	+0.149%	$350K	$48K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0269%	1h	13.231	+0.212%	$365K	$380K	15x	as long as short
Hyperliquid LINK	+0.0289%	1h	13.232	+0.223%	$78.2M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.210	+0.055%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.233	+0.227%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.229	+0.197%	$7.0M	$8.2M	50x	as long as short