Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0059%/8h= −6.4% APRpaid last 24h −0.001%

Price spread now: Orderly against Pacifica+0.088%7-day average +0.015% · you sell dearer than you buy

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

Long on Pacifica Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now +0.088%, 7d avg +0.015%

Together, before fees+0.092%+ Points / potential airdropPacifica: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.074% dearer against Pacifica than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of +0.015%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.089%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.175	0.0100	pay 0.0013% / 1h	13m 41s	$276K	$150K	10x
Short	Orderly PERP_LINK_USDC	13.187	0.0041	get 0.0041% / 8h	2h 13m	$134K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.088%Rate

Funding earned: −$12.31
Price spread: +0.088% → +0.015%: $7.36
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.96
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 9 min ago; Orderly: no order-book sample. 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 Pacifica live order book, 9 min ago	3.04 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 −0.0092% / S +0.0167%	1h	13.191	+0.120%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.178	+0.020%	$483K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.196	+0.154%	$720K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.193	+0.134%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0015%	1h	13.174	−0.010%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	+0.071%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.885%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDCshort	+0.0041%	8h	13.187	+0.088%	$134K	$1.6M	20x
Lighter LINK	+0.0096%	1h	13.176	+0.008%	$2.1M	$2.4M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	13.185	+0.072%	$3.3M	$1.5M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.169	−0.045%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.177	+0.014%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.191	+0.119%	$78.0M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.187	+0.090%	$1.6M	$2.7M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.175	long leg	$276K	$150K	10x
Binance LINKUSDT	+0.0100%	8h	13.173	−0.019%	$122.3M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.169	−0.048%	$84.8M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.169	−0.048%	$27.9M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	+0.103%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.174	−0.010%	$130.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	−0.018%	$37.1M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.175	−0.003%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.168	−0.056%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.170	−0.041%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.188	+0.098%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.187	+0.088%	$595K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.197	+0.164%	$154K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.188	+0.096%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.187	+0.092%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.206	+0.235%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.192	+0.126%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.166	−0.070%	$647K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.167	−0.061%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.193	+0.135%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.191	+0.119%	$992K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.201	+0.195%	$366K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.179	+0.028%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.186	+0.083%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.204	+0.217%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.200	+0.184%	$7.0M	$7.9M	50x	as long as short