Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: Bybit against Pacifica−0.063%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.063%, 7d avg −0.037%

Together, before fees+0.032%+ Points / potential airdropPacifica: Active · farm board+$3 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: Bybit is 0.025% cheaper against Pacifica than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.036	0.0100	pay 0.0013% / 1h	18m 36s	$275K	$173K	10x
Short	Bybit LINKUSDT	13.028	0.0100	get 0.0100% / 8h	5h 18m	$84.2M	$71.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → −0.037%: −$2.52
Slippage, 4 orders: −$19.02
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$40.54
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Pacifica: live order book, 45 min ago; Bybit: 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, 45 min ago	5.38 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.38 bp	8.1 bp −$8	13.1 bp −$131	35.7 bp −$3,566	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	13.044	+0.062%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.049	+0.095%	$483K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.045	+0.068%	$161K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.880%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.051	+0.114%	$967K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.041	+0.037%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.039	+0.019%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.061	+0.192%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.037	+0.008%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.036	−0.001%	$394K	$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	13.043	+0.055%	$1.3M	$2.3M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.036	long leg	$275K	$173K	10x
Binance LINKUSDT	+0.0100%	8h	13.031	−0.040%	$120.5M	$296.4M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.028	−0.063%	$84.2M	$71.5M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.025	−0.086%	$27.5M	$82.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.052	+0.122%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.033	−0.024%	$128.7M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.033	−0.024%	$32.5M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.039	+0.022%	$23.0M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.024	−0.093%	$54.1M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.033	−0.024%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.046	+0.076%	$345K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.062	+0.199%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.068	+0.246%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.051	+0.111%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.077	+0.313%	$134K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.035	−0.009%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.039	+0.024%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.068	+0.241%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.042	+0.045%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	+0.003%	$643K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.027	−0.073%	$651K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.044	+0.059%	$547K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0149%	1h	13.046	+0.077%	$775K	$174K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.041	+0.037%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.023	−0.103%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0405%	1h	13.032	−0.029%	$345K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0552%	1h	13.045	+0.072%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0586%	8h	13.056	+0.152%	$20.1M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0658%	1h	13.044	+0.060%	$82.1M	$27.3M	10x	as long as short