Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0039%/8h= +4.2% APRpaid last 24h +0.006%

Price spread now: Pacifica against Orderly+0.054%7-day average −0.014% · you sell dearer than you buy

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

Long on Orderly Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.054%, 7d avg −0.014%

Together, before fees−0.204%+ Points / potential airdropPacifica: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Pacifica is 0.068% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.014%. Mind the row above: over the last 7 days funding on this pair cost −0.078%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LINK_USDC	12.955	0.0061	pay 0.0061% / 8h	4h 54m	$117K	$1.4M	20x
Short	Pacifica LINK	12.962	0.0100	get 0.0013% / 1h	54m 42s	$273K	$173K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.054%Rate

Funding earned: $8.15
Price spread: +0.054% → −0.014%: $6.83
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $0.98
Costs to cover: 0.140%
Break-even: 6.2 days

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 3 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 Pacifica live order book, 3 min ago	3.88 bp	12.8 bp −$13	doesn't fit	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	12.955	+0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.952	−0.024%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.956	+0.009%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.284%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDClong	+0.0061%	8h	12.955	long leg	$117K	$1.4M	20x
Lighter LINK	+0.0096%	1h	12.963	+0.058%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.964	+0.069%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0098%	1h	12.920	−0.272%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.955	−0.001%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.946	−0.066%	$392K	$310K	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	12.964	+0.069%	$1.3M	$2.3M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	12.962	+0.054%	$273K	$173K	10x
Binance LINKUSDT	+0.0100%	8h	12.961	+0.047%	$119.9M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.952	−0.023%	$83.6M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.951	−0.031%	$27.4M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.967	+0.093%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.958	+0.023%	$128.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.956	+0.008%	$32.3M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.959	+0.031%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.961	+0.046%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.961	+0.046%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	+0.011%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.913	−0.326%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	−0.084%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.340%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.958	+0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	+0.014%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.973	+0.135%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.955	0.000%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.942	−0.102%	$634K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.960	+0.039%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.957	+0.015%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.963	+0.063%	$773K	$184K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0166%	1h	12.969	+0.108%	$340K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	+0.039%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.948	−0.051%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.959	+0.033%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0459%	1h	12.977	+0.170%	$81.6M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0567%	1h	12.963	+0.062%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0616%	8h	12.967	+0.093%	$20.0M	$11.4M	50x	as long as short