Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.014%

Price spread now: Orderly against Injective+4.935%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.961%−$96 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 +$1 a day on $10k at the current rate, and Orderly is 4.935% dearer against Injective than usual: you sell high and buy low: +$494 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 −0.961%, 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	43m 21s	$4K	$48K	12x
Short	Orderly PERP_LINK_USDC	13.012	0.0067	get 0.0067% / 8h	5h 43m	$117K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +4.935%Rate

Funding earned: $7.11
Price spread: +4.935% → 0.000%: $493.55
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $494.63
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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	13.010	+4.923%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.997	+4.815%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.009	+4.909%	$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	13.016	+4.968%	$940K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDCshort	+0.0067%	8h	13.012	+4.935%	$117K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.009	+4.915%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.004	+4.872%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.008	+4.900%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	+4.895%	$395K	$315K	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	13.009	+4.915%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	+4.920%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.012	+4.935%	$119.9M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.010	+4.919%	$84.2M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.013	+4.944%	$27.4M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.022	+5.016%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.006	+4.887%	$128.5M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.011	+4.927%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.011	+4.927%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.012	+4.935%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.011	+4.927%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	+4.607%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.995	+4.799%	$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	13.003	+4.863%	$133K	$672K	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	13.012	+4.936%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.025	+5.037%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.016	+4.968%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.991	+4.768%	$641K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.012	+4.932%	$701K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.019	+4.991%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0112%	1h	13.004	+4.871%	$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	+0.0311%	1h	13.019	+4.994%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0363%	1h	13.008	+4.902%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.008	+4.907%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.019	+4.988%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0612%	8h	13.012	+4.935%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0743%	1h	13.023	+5.024%	$81.8M	$26.7M	10x	as long as short