Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.014%

Price spread now: Binance against Injective+5.709%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.015%−$101 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 5.709% dearer against Injective than usual: you sell high and buy low: +$571 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −1.015%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	10m 39s	$4K	$48K	12x
Short	Binance LINKUSDT	13.108	0.0100	get 0.0100% / 8h	10m 39s	$121.8M	$305.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +5.709%Rate

Funding earned: $14
Price spread: +5.709% → 0.000%: $570.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $574.89
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	0.38 bp	5.5 bp −$5	10.6 bp −$106	30.9 bp −$3,094	107.8 bp −$53.9K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	13.088	+5.550%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.100	+5.644%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.092	+5.578%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.090	+5.562%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.108	+5.714%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0044%	8h	13.084	+5.516%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.109	+5.720%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.110	+5.727%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.090	+5.565%	$400K	$310K	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	13.107	+5.705%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.109	+5.722%	$276K	$151K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	13.108	+5.709%	$121.8M	$305.0M	75x
Bybit LINKUSDT	+0.0100%	8h	13.107	+5.702%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.112	+5.742%	$27.6M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.123	+5.831%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.108	+5.710%	$130.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.108	+5.710%	$36.1M	$58.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.109	+5.718%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.113	+5.750%	$54.6M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.114	+5.758%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.083	+5.505%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.101	+5.650%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.100	+5.644%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.106	+5.694%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.089	+5.556%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.083	+5.509%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.100	+5.644%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.086	+5.532%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.085	+5.526%	$644K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.111	+5.737%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.088	+5.546%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.097	+5.621%	$992K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.097	+5.621%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.088	+5.548%	$5.2M	$16.8M	75x	as long as short
Hyperliquid LINK	+0.0294%	1h	13.117	+5.782%	$77.8M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.084	+5.518%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.094	+5.597%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0488%	8h	13.104	+5.677%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0541%	1h	13.103	+5.669%	$347K	$48K	10x	as long as short