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 −0.008%

Price spread now: OKX against Nado+0.073%7-day average −0.006% · 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−$18as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.634%−$63 · spread now +0.073%, 7d avg −0.006%

Together, before fees−0.644%+ Points / potential airdropNado: Active · farm board−$64 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: OKX is 0.080% dearer against Nado than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.942	0.0100	pay 0.0012% / 1h	22m 15s	$349K	$335K	10x
Short	OKX LINK-USDT-SWAP	12.952	0.0100	get 0.0100% / 8h	7h 22m	$27.2M	$79.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → −0.006%: $7.95
Slippage, 4 orders: −$9.24
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.28
Costs to cover: 0.262%
Break-even: 1878537685978730.0 days

Slippage from Nado: live order book, 11 min ago; OKX: 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 Nado live order book, 11 min ago	1.17 bp	4.7 bp −$5	17.6 bp −$176	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.39 bp	7.5 bp −$7	15.4 bp −$154	35.9 bp −$3,593	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	−0.0122%	8h	12.951	+0.066%	$91K	$936K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.934	−0.065%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.921	−0.163%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.931	−0.091%	$106K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.192%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.953	+0.084%	$6.4M	$8.4M	50x	as long as short
Bybit LINKUSDT	+0.0065%	8h	12.951	+0.066%	$83.7M	$72.5M	75x	as long as short
Phoenix LINK	+0.0087%	1h	12.845	−0.756%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.953	+0.082%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.953	+0.078%	$31K	$2K	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	12.942	long leg	$349K	$335K	10x
Hyperliquid LINK	+0.0100%	1h	12.957	+0.112%	$80.9M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.955	+0.094%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.950	+0.058%	$275K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.954	+0.088%	$119.6M	$294.9M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.952	+0.073%	$27.2M	$79.5M	50x
Arcus LINK-USD	+0.0100%	1h	12.965	+0.174%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.953	+0.081%	$134.4M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.952	+0.073%	$35.1M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.952	+0.073%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.951	+0.066%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.953	+0.081%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.943	+0.004%	$336K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.831%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.860	−0.639%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.865	−0.598%	$588K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.850	−0.715%	$131K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.952	+0.073%	$83K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−0.929%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.967	+0.192%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.953	+0.081%	$11K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.900	−0.328%	$630K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.948	+0.044%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.954	+0.086%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.961	+0.145%	$811K	$266K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.961	+0.143%	$926K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.929	−0.104%	$5.3M	$15.9M	75x	as long as short
Phemex LINKUSDT	+0.0281%	8h	12.965	+0.174%	$20.0M	$11.4M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	12.949	+0.047%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.1255%	1h	12.953	+0.084%	$348K	$49K	10x	as long as short