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 +0.008%

Price spread now: Extended against GRVT+0.154%7-day average −0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)−0.512%−$51 · spread now +0.154%, 7d avg −0.073%

Together, before fees−0.453%+ Points / potential airdropGRVT: Active · Extended: Active · farm board−$45 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: Extended is 0.228% dearer against GRVT than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LINK_USDT_Perp	13.161	0.0100	pay 0.0100% / 8h	7h 43m	$596K	$2.7M	10x
Short	Extended LINK-USD	13.181	0.0104	get 0.0013% / 1h	43m 32s	$740K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.154%Rate

Funding earned: $0.84
Price spread: +0.154% → −0.073%: $22.77
Slippage, 4 orders: −$9.01
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $0.6
Costs to cover: 0.230%
Break-even: 2.0 days

Slippage from GRVT: live order book, 5 min ago; Extended: 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	0.38 bp	5.6 bp −$6	15.8 bp −$158	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	2.28 bp	4.8 bp −$5	6.6 bp −$66	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 −0.0091% / S +0.0167%	1h	13.161	+0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.186	+0.192%	$468K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.165	+0.032%	$761K	$181K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.165	+0.028%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.782%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.161	+0.004%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0045%	8h	13.160	−0.007%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.186	+0.191%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.184	+0.173%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.194	+0.255%	$404K	$311K	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	13.191	+0.225%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.189	+0.212%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.195	+0.259%	$122.5M	$305.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.191	+0.229%	$85.0M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.195	+0.259%	$27.9M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.199	+0.289%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.186	+0.191%	$130.6M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.185	+0.183%	$36.8M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.191	+0.229%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.186	+0.191%	$54.9M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.184	+0.175%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	−0.110%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.156	−0.036%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perplong	+0.0100%	8h	13.161	long leg	$596K	$2.7M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	13.166	+0.039%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.171	+0.077%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	−0.006%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.181	+0.156%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.158	−0.022%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.159	−0.012%	$647K	$874K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.181	+0.154%	$740K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.162	+0.005%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.184	+0.175%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0182%	1h	13.170	+0.069%	$365K	$369K	15x	as long as short
dYdX LINK-USD	+0.0219%	1h	13.184	+0.174%	$349K	$48K	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.165	+0.031%	$5.2M	$16.7M	75x	as long as short
Phemex LINKUSDT	+0.0341%	8h	13.177	+0.122%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.165	+0.029%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.158	−0.022%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0517%	1h	13.205	+0.335%	$80.6M	$25.0M	10x	as long as short