Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.037%

Price spread now: Aster against Phoenix+0.431%75s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.431% dearer against Phoenix than usual: you sell high and buy low, +$43 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 75 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	Phoenix LINK	12.882	0.0099	pay 0.0012% / 1h	32m 05s	$3K	$84K	10x
Short	Aster LINKUSDT	12.937	0.0100	get 0.0100% / 8h	4h 32m	$1.2M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now +0.431%Rate

Funding earned: $0.24
Price spread: +0.431% → 0.000%: $43.07
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $28.31
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Aster: live order book, 1 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	0.77 bp	10.6 bp −$11	20.8 bp −$208	doesn't fit	doesn't fit

Phoenix: 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 −0.0090% / S +0.0167%	1h	12.935	+0.414%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.938	+0.439%	$488K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.936	+0.419%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.739%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0058%	8h	12.936	+0.422%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.940	+0.454%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.904	+0.173%	$940K	$2.7M	50x	as long as short
Phoenix LINKlong	+0.0099%	1h	12.882	long leg	$3K	$84K	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.934	+0.406%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.928	+0.356%	$391K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDTshort	+0.0100%	8h	12.937	+0.431%	$1.2M	$2.4M	50x
Pacifica LINK	+0.0100%	1h	12.932	+0.393%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.944	+0.481%	$119.7M	$297.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.937	+0.429%	$83.4M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.939	+0.445%	$27.3M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.946	+0.499%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.937	+0.429%	$127.9M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.942	+0.468%	$32.2M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.946	+0.499%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.940	+0.453%	$53.8M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.940	+0.453%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.950	+0.530%	$339K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.860	−0.167%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	+0.019%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.887	+0.038%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.894	+0.095%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.942	+0.468%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.935	+0.413%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.953	+0.552%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.941	+0.460%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.904	+0.175%	$632K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.934	+0.403%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.940	+0.456%	$543K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.921	+0.305%	$5.2M	$15.7M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0283%	1h	12.946	+0.501%	$773K	$197K	50x	as long as short
Hyperliquid LINK	+0.0377%	1h	12.955	+0.569%	$81.1M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.931	+0.386%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.944	+0.487%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.953	+0.553%	$20.0M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0567%	1h	12.926	+0.348%	$342K	$30K	10x	as long as short