LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0214%/8h= +23.4% APRnext payment +$0.27 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Polymarket Perps+0.099%7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.374%+$37 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.099% dearer against Polymarket Perps than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps LINK-USD	13.194	0.0100	pay 0.0013% / 1h	37m 14s	$82K	$69K	10x
Short	Backpack LINK_USDC_PERP	13.207	0.0314	get 0.0039% / 1h	37m 14s	$365K	$379K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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 Polymarket PerpsbpFee BackpackbpOrdersPrice spread, now +0.099%Rate

Funding earned: $44.84
Price spread: +0.099% → 0.000%: $9.85
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $36.7
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: Polymarket Perps: no order-book sample; Backpack: live order book, 41 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell Backpack live order book, 41 min ago	0.38 bp	6.0 bp −$6	441.4 bp −$4,414	doesn't fit	doesn't fit

Polymarket Perps: 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 −0.0091% / S +0.0167%	1h	13.190	−0.033%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.199	+0.039%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.192	−0.018%	$723K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.192	−0.017%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.204	+0.077%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.018%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.186	−0.061%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.186	−0.061%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.190	−0.028%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.190	−0.027%	$402K	$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	13.194	+0.002%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.194	−0.002%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.185	−0.068%	$122.7M	$304.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.183	−0.083%	$85.1M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.184	−0.076%	$27.8M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.209	+0.114%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.191	−0.023%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.192	−0.015%	$36.7M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.195	+0.008%	$22.6M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.185	−0.068%	$54.8M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.189	−0.038%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.218	+0.181%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.202	+0.061%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.213	+0.145%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.209	+0.114%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USDlong	+0.0100%	1h	13.194	long leg	$82K	$69K	10x
Derive LINK-PERP	+0.0100%	1h	13.186	−0.064%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.201	+0.057%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.186	−0.061%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.186	−0.061%	$649K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.184	−0.078%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.190	−0.028%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.202	+0.061%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.188	−0.045%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0280%	1h	13.206	+0.091%	$78.1M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERPshort	+0.0314%	1h	13.207	+0.099%	$365K	$379K	15x
Reya LINKRUSDPERP	+0.0378%	1h	13.188	−0.045%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0476%	8h	13.203	+0.068%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0476%	1h	13.194	+0.003%	$7.0M	$8.2M	50x	as long as short
dYdX LINK-USD	+0.0495%	1h	13.195	+0.011%	$349K	$48K	10x	as long as short