Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.002%

Price spread now: Coinbase International against MEXC−0.023%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now −0.023%, 7d avg +0.018%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.041% cheaper against MEXC than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.018%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	13.233	0.0100	pay 0.0100% / 8h	57m 04s	$37.0M	$56.6M	300x
Short	Coinbase International LINK-PERP-INTX	13.230	0.0160	get 0.0020% / 1h	57m 04s	$999K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now −0.023%Rate

Funding earned: $12.6
Price spread: −0.023% → +0.018%: −$4.08
Slippage, 4 orders: −$17.95
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$19.44
Costs to cover: 0.280%
Break-even: 17.8 days

Slippage from MEXC: live order book, 7 min ago; Coinbase International: live order book, 2 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 MEXC live order book, 7 min ago	0.38 bp	0.4 bp $0	3.0 bp −$30	23.2 bp −$2,322	43.4 bp −$21.7K
Sell Coinbase International live order book, 2 min ago	3.40 bp	13.8 bp −$14	16.4 bp −$164	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 −0.0090% / S +0.0167%	1h	13.232	−0.007%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.236	+0.019%	$488K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.232	−0.010%	$135K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.295%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.224	−0.069%	$4K	$84K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.230	−0.023%	$134K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0067%	1h	13.236	+0.019%	$725K	$128K	50x	as long as short
Lighter LINK	+0.0096%	1h	13.231	−0.012%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.220	−0.101%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.234	+0.009%	$405K	$313K	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	13.234	+0.008%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.227	−0.043%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.230	−0.021%	$123.1M	$303.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.227	−0.045%	$85.5M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.232	−0.008%	$27.9M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.239	+0.045%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.231	−0.015%	$131.1M	$12.7M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	13.233	long leg	$37.0M	$56.6M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.234	+0.008%	$22.5M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.230	−0.023%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.233	0.000%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.297%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.214	−0.145%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.203	−0.227%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.213	−0.151%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.238	+0.038%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.227	−0.042%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.242	+0.070%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.233	0.000%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.214	−0.141%	$650K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.229	−0.031%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.233	+0.001%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0116%	1h	13.224	−0.072%	$350K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0160%	1h	13.230	−0.023%	$999K	$2.8M	50x
BloFin LINK-USDT	+0.0220%	8h	13.234	+0.008%	$5.3M	$17.2M	75x	as long as short
Hyperliquid LINK	+0.0285%	1h	13.247	+0.102%	$78.3M	$24.1M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0349%	1h	13.242	+0.068%	$365K	$380K	15x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.234	+0.005%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0464%	8h	13.246	+0.098%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.242	+0.065%	$7.0M	$8.1M	50x	as long as short