Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.001%

Price spread now: Aevo against Orderly+0.037%7-day average −0.017% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.037%, 7d avg −0.017%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aevo is 0.054% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread 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	Orderly PERP_LINK_USDC	13.199	0.0041	pay 0.0041% / 8h	1h 40m	$134K	$1.5M	20x
Short	Aevo LINK-PERP	13.204	0.0104	get 0.0013% / 1h	40m 11s	$554K	$2K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now +0.037%Rate

Funding earned: $13.17
Price spread: +0.037% → −0.017%: $5.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$3.39
Costs to cover: 0.220%
Break-even: 8.8 days

Slippage unknown: Orderly: no order-book sample; Aevo: live order book, 44 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo live order book, 44 min ago	21.27 bp	35.5 bp −$35	189.7 bp −$1,897	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	13.205	+0.043%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.205	+0.049%	$350K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.209	+0.072%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.207	+0.064%	$721K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.205	+0.042%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.053%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.071%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDClong	+0.0041%	8h	13.199	long leg	$134K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.207	+0.061%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.200	+0.004%	$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-PERP	+0.0100%	1h	13.200	+0.008%	$400K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.213	+0.106%	$78.0M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.207	+0.059%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.203	+0.030%	$277K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.203	+0.028%	$122.5M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.203	+0.030%	$85.1M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.203	+0.030%	$27.8M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.216	+0.129%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.203	+0.030%	$131.1M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.202	+0.023%	$36.8M	$56.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.207	+0.061%	$22.3M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.202	+0.023%	$54.9M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.202	+0.023%	—	$21.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.205	+0.045%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.181	−0.136%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.165	−0.258%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.172	−0.205%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.204	+0.038%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.201	+0.012%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.220	+0.158%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.203	+0.030%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.191	−0.058%	$649K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.200	+0.007%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERPshort	+0.0104%	1h	13.204	+0.037%	$554K	$2K	3x
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.202	+0.023%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0185%	1h	13.213	+0.106%	$367K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.203	+0.030%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.202	+0.025%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0450%	8h	13.215	+0.121%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.212	+0.095%	$7.0M	$8.0M	50x	as long as short