Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against KuCoin−0.097%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+1.211%+$121 · spread now −0.097%, 7d avg −0.008%

Together, before fees+1.235%+ Points / potential airdropNado: Active · farm board+$123 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: Nado is 0.089% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.886	0.0100	pay 0.0100% / 8h	7h 55m	$22.9M	$12.2M	75x
Short	Nado LINK-PERP	12.873	0.0100	get 0.0012% / 1h	55m 08s	$348K	$336K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against KuCoin. 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 KuCoinbpFee NadobpOrdersPrice spread, now −0.097%Rate

Funding earned: $0
Price spread: −0.097% → −0.008%: −$8.9
Slippage, 4 orders: −$16.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$44.77
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Nado: live order book, 43 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 KuCoin live order book, 4 min ago	1.94 bp	13.5 bp −$13	23.6 bp −$236	94.1 bp −$9,414	doesn't fit
Sell Nado live order book, 43 min ago	0.78 bp	7.1 bp −$7	19.3 bp −$193	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
Orderly PERP_LINK_USDC	−0.0102%	8h	12.872	−0.109%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.885	−0.008%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.885	−0.010%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.883	−0.023%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.772%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.884	−0.012%	$6.4M	$8.4M	50x	as long as short
dYdX LINK-USD	+0.0053%	1h	12.879	−0.051%	$343K	$45K	10x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	+0.185%	$3K	$85K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0084%	1h	12.884	−0.015%	$806K	$268K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.884	−0.016%	$1.9M	$2.8M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	12.875	−0.089%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.873	−0.097%	$348K	$336K	10x
Hyperliquid LINK	+0.0100%	1h	12.898	+0.093%	$80.5M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.906	+0.154%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.875	−0.084%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.906	+0.155%	$119.2M	$297.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.900	+0.109%	$83.6M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.905	+0.147%	$27.0M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.894	+0.062%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.892	+0.047%	$133.8M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.891	+0.039%	$34.8M	$57.9M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.886	long leg	$22.9M	$12.2M	75x
Bitget LINKUSDT	+0.0100%	8h	12.898	+0.093%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.896	+0.078%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.891	+0.042%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.910	+0.187%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.889	+0.026%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.899	+0.101%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.880	−0.047%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.919	+0.259%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.893	+0.051%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.883	−0.023%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.869	−0.130%	$629K	$750K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.871	−0.116%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.882	−0.031%	$540K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0125%	1h	12.899	+0.101%	$335K	$385K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.941	+0.427%	$930K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.878	−0.062%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.878	−0.062%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.1086%	8h	12.899	+0.101%	$19.9M	$11.5M	50x	as long as short