Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Nado+0.048%7-day average +0.017% · 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−$33as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.321%−$32 · spread now +0.048%, 7d avg +0.017%

Together, before fees−0.321%+ Points / potential airdropNado: Active · Pacifica: Active · farm board−$32 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: Pacifica is 0.031% dearer against Nado than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	13.207	0.0100	pay 0.0012% / 1h	58m 55s	$404K	$313K	10x
Short	Pacifica LINK	13.214	0.0100	get 0.0013% / 1h	58m 55s	$277K	$149K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.048%Rate

Funding earned: $0
Price spread: +0.048% → +0.017%: $3.11
Slippage, 4 orders: −$20.72
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$32.61
Costs to cover: 0.357%
Break-even: 3350433265080830.0 days

Slippage from Nado: live order book, 19 min ago; Pacifica: live order book, 19 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, 19 min ago	1.14 bp	7.6 bp −$8	23.2 bp −$232	doesn't fit	doesn't fit
Sell Pacifica live order book, 19 min ago	4.18 bp	10.1 bp −$10	doesn't fit	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	13.217	+0.074%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	+0.102%	$488K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.223	+0.114%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.217	+0.070%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.114%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.203	−0.033%	$4K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.216	+0.064%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0055%	1h	13.214	+0.047%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.218	+0.080%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.209	+0.011%	$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	13.207	long leg	$404K	$313K	10x
Aster LINKUSDT	+0.0100%	8h	13.225	+0.130%	$1.4M	$2.9M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	13.214	+0.048%	$277K	$149K	10x
Binance LINKUSDT	+0.0100%	8h	13.219	+0.088%	$123.0M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.215	+0.057%	$85.4M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.219	+0.087%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.226	+0.140%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.221	+0.102%	$131.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.219	+0.087%	$37.0M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.220	+0.095%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.215	+0.057%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.220	+0.095%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.104%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.023%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.203	−0.034%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	−0.004%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.216	+0.064%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.213	+0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.225	+0.136%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.220	+0.095%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.199	−0.061%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.214	+0.048%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.220	+0.091%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.222	+0.110%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.216	+0.064%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0269%	1h	13.231	+0.178%	$365K	$380K	15x	as long as short
Hyperliquid LINK	+0.0282%	1h	13.235	+0.208%	$78.2M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.210	+0.021%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.233	+0.193%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.229	+0.163%	$7.0M	$8.2M	50x	as long as short