Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Pacifica−0.073%47s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.343% of the position

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.073%, 7d avg −0.023%

Together, before fees+0.090%+ Points / potential airdropPacifica: Active · farm board+$9 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: BingX is 0.050% cheaper against Pacifica than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	12.955	0.0100	pay 0.0013% / 1h	0m 55s	$276K	$183K	10x
Short	BingX LINK-USDT	12.946	0.0100	get 0.0100% / 8h	2h 00m	—	$23.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → −0.023%: −$5.01
Slippage, 4 orders: −$16.3
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$39.32
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Pacifica: live order book, 47 min ago; BingX: live order book, 8 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 Pacifica live order book, 47 min ago	4.64 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	1.16 bp	6.5 bp −$6	9.1 bp −$91	19.8 bp −$1,983	47.5 bp −$23.8K

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 −0.0089% / S +0.0166%	1h	12.949	−0.047%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.958	+0.016%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.950	−0.043%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0022%	8h	12.944	−0.089%	$95K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.288%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.021%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.952	−0.027%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.950	−0.042%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	−0.039%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.950	−0.046%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINKlong	+0.0100%	1h	12.955	long leg	$276K	$183K	10x
Binance LINKUSDT	+0.0100%	8h	12.946	−0.074%	$119.4M	$302.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.942	−0.104%	$83.5M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.943	−0.096%	$27.0M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.969	+0.104%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.945	−0.081%	$124.6M	$15.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.948	−0.058%	$32.9M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.950	−0.042%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.944	−0.089%	$54.1M	$30.6M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	12.946	−0.073%	—	$23.3M	—
Variational Omni LINK	+0.0100%	8h	12.945	−0.080%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	−0.016%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	+0.022%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.970	+0.112%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.955	−0.004%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.951	−0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.965	+0.076%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.953	−0.019%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.939	−0.127%	$634K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.942	−0.108%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.954	−0.012%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.961	+0.043%	$936K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0135%	1h	12.958	+0.019%	$338K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.952	−0.027%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0248%	1h	12.959	+0.027%	$80.8M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0276%	1h	12.956	+0.008%	$6.7M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0283%	1h	12.958	+0.022%	$808K	$254K	50x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.949	−0.051%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0576%	8h	12.969	+0.104%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0598%	1h	12.957	+0.014%	$345K	$33K	10x	as long as short