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% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against Pacifica−0.092%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Pacifica Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.313%+$31 · spread now −0.092%, 7d avg −0.020%

Together, before fees+0.313%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$31 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: Nado is 0.072% cheaper against Pacifica than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	12.832	0.0100	pay 0.0013% / 1h	40m 21s	$273K	$185K	10x
Short	Nado LINK-PERP	12.820	0.0100	get 0.0012% / 1h	40m 21s	$342K	$342K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.092%Rate

Funding earned: $0
Price spread: −0.092% → −0.020%: −$7.21
Slippage, 4 orders: −$20.56
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$42.77
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Pacifica: live order book, 8 min ago; Nado: live order book, 7 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, 8 min ago	4.64 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 7 min ago	1.16 bp	6.5 bp −$6	15.6 bp −$156	doesn't fit	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 −0.0089% / S +0.0166%	1h	12.829	−0.027%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.844	+0.089%	$499K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.831	−0.010%	$183K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.369%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0046%	1h	12.854	+0.168%	$786K	$228K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.827	−0.041%	$99K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.879	+0.365%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.830	−0.016%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.829	−0.024%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.820	−0.092%	$342K	$342K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.833	+0.005%	$1.2M	$2.4M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	12.832	long leg	$273K	$185K	10x
Binance LINKUSDT	+0.0100%	8h	12.831	−0.010%	$118.5M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.831	−0.010%	$82.8M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.835	+0.021%	$27.1M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.842	+0.076%	$179K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.820	−0.096%	$123.5M	$14.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.827	−0.041%	$32.8M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.828	−0.034%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.825	−0.057%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.830	−0.018%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.850	+0.138%	$337K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.841	+0.071%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	+0.388%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.898	+0.512%	$585K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.884	+0.403%	$132K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.830	−0.018%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.845	+0.099%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.863	+0.237%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.848	+0.122%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.807	−0.196%	$629K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.816	−0.126%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.838	+0.048%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.856	+0.185%	$914K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.849	+0.130%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0246%	1h	12.836	+0.033%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.851	+0.147%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.823	−0.075%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0580%	8h	12.865	+0.255%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.1029%	1h	12.828	−0.033%	$342K	$33K	10x	as long as short