Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Bybit against Nado+0.030%7-day average −0.019% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 3 days (all we have)−0.416%−$42 · spread now +0.030%, 7d avg −0.019%

Together, before fees−0.439%+ Points / potential airdropNado: Active · farm board−$44 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: Bybit is 0.049% dearer against Nado than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	13.168	0.0100	pay 0.0012% / 1h	55m 01s	$400K	$316K	10x
Short	Bybit LINKUSDT	13.172	0.0100	get 0.0100% / 8h	1h 55m	$84.9M	$69.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → −0.019%: $4.89
Slippage, 4 orders: −$13.14
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.25
Costs to cover: 0.311%
Break-even: 2696850845765570.0 days

Slippage from Nado: live order book, 28 min ago; Bybit: live order book, 4 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 Nado live order book, 28 min ago	1.14 bp	8.1 bp −$8	18.8 bp −$188	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.38 bp	7.5 bp −$7	12.9 bp −$129	34.9 bp −$3,486	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	13.173	+0.036%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.163	−0.038%	$349K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.171	+0.022%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.175	+0.056%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.175	+0.053%	$134K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.128	−0.305%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.832%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.171	+0.023%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.181	+0.096%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.160	−0.063%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERPlong	+0.0100%	1h	13.168	long leg	$400K	$316K	10x
Hyperliquid LINK	+0.0100%	1h	13.187	+0.144%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.175	+0.054%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.163	−0.035%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.171	+0.023%	$122.1M	$302.1M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.172	+0.030%	$84.9M	$69.7M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.170	+0.015%	$27.7M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.176	+0.061%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.170	+0.015%	$130.7M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.171	+0.023%	$36.8M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.173	+0.038%	$22.4M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.168	0.000%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.172	+0.030%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.148	−0.149%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.127	−0.310%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.243%	$589K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.129	−0.296%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.178	+0.076%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.167	−0.009%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.193	+0.190%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	+0.038%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.163	−0.041%	$647K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.166	−0.013%	$667K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.176	+0.063%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.159	−0.068%	$991K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.174	+0.046%	$5.2M	$17.0M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0225%	1h	13.187	+0.144%	$367K	$374K	15x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.177	+0.068%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.192	+0.182%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.181	+0.097%	$6.9M	$8.0M	50x	as long as short