Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: BloFin against Pacifica−0.082%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.268%+$27 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now −0.082%, 7d avg −0.004%

Together, before fees+0.386%+ Points / potential airdropPacifica: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.078% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of −0.004%). If the spread goes back, that is −$8 on $10k: about 2.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.169	0.0100	pay 0.0013% / 1h	34m 06s	$277K	$150K	10x
Short	BloFin LINK-USDT	13.158	0.0220	get 0.0220% / 8h	34m 06s	$5.3M	$17.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.082%Rate

Funding earned: $25.2
Price spread: −0.082% → −0.004%: −$7.79
Slippage, 4 orders: −$21.31
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$23.9
Costs to cover: 0.413%
Break-even: 13.6 days

Slippage from Pacifica: live order book, 44 min ago; BloFin: live order book, 5 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, 44 min ago	4.18 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	3.79 bp	10.2 bp −$10	12.0 bp −$120	23.1 bp −$2,310	56.1 bp −$28.0K

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 −0.0091% / S +0.0167%	1h	13.159	−0.072%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.170	+0.009%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.161	−0.061%	$726K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.160	−0.066%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.204	+0.268%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.838%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.156	−0.097%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.160	−0.067%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.164	−0.038%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.163	−0.044%	$401K	$312K	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	13.167	−0.013%	$1.4M	$3.0M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.169	long leg	$277K	$150K	10x
Binance LINKUSDT	+0.0100%	8h	13.161	−0.059%	$122.5M	$304.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.160	−0.067%	$84.8M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.162	−0.051%	$27.8M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.182	+0.101%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.160	−0.067%	$130.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.160	−0.067%	$36.5M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.161	−0.059%	$22.8M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.160	−0.067%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.159	−0.074%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.182	+0.100%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.190	+0.158%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.185	+0.124%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.195	+0.199%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.164	−0.036%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.157	−0.091%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.173	+0.034%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.158	−0.082%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.153	−0.120%	$647K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.158	−0.080%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.161	−0.063%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.174	+0.040%	$997K	$2.8M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	13.158	−0.082%	$5.3M	$17.3M	75x
Hyperliquid LINK	+0.0273%	1h	13.176	+0.055%	$78.0M	$24.1M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0286%	1h	13.171	+0.017%	$364K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.158	−0.084%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.167	−0.014%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0479%	8h	13.177	+0.063%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0585%	1h	13.168	−0.008%	$349K	$48K	10x	as long as short