Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: BingX against Injective+4.919%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 BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.971%−$97 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 BingX is 4.919% dearer against Injective than usual: you sell high and buy low: +$492 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 −0.971%, 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	44m 51s	$4K	$48K	12x
Short	BingX LINK-USDT	13.010	0.0100	get 0.0100% / 8h	5h 44m	—	$22.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +4.919%Rate

Funding earned: $14
Price spread: +4.919% → 0.000%: $491.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $495.92
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BingX: live order book, 9 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 BingX live order book, 9 min ago	1.15 bp	6.4 bp −$6	8.5 bp −$85	18.9 bp −$1,886	44.5 bp −$22.3K

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 −0.0090% / S +0.0167%	1h	13.001	+4.846%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.002	+4.858%	$479K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.000	+4.836%	$159K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.973	+4.621%	$936K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.005	+4.879%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.004	+4.874%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.000	+4.838%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.001	+4.847%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.008	+4.907%	$395K	$316K	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	13.027	+5.053%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	+4.771%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.005	+4.879%	$119.8M	$296.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.995	+4.798%	$84.1M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.003	+4.863%	$27.5M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.016	+4.968%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.021	+5.008%	$128.5M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.012	+4.935%	$32.1M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.026	+5.048%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.003	+4.863%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	13.010	+4.919%	—	$22.6M	—
Variational Omni LINK	+0.0100%	8h	12.971	+4.607%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	+4.633%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	+4.554%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.990	+4.758%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	+4.968%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	+4.907%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	+4.927%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	+4.935%	$5K	$45K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	+4.611%	$640K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.020	+5.001%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.011	+4.931%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0106%	1h	13.024	+5.032%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	+4.879%	—	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0296%	1h	13.014	+4.948%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0351%	1h	13.001	+4.847%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.006	+4.884%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.013	+4.946%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0601%	8h	13.025	+5.040%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0741%	1h	13.021	+5.008%	$81.8M	$26.7M	10x	as long as short