Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.045%

Price spread now: BloFin against SoDEX+0.083%56s7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 +$4 a day on $10k at the current rate, and BloFin is 0.083% dearer against SoDEX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 56 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	SoDEX LINK-USD	13.238	0.0100	pay 0.0013% / 1h	51m 58s	$5K	$36K	10x
Short	BloFin LINK-USDT	13.249	0.0220	get 0.0220% / 8h	51m 58s	$5.3M	$17.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now +0.083%Rate

Funding earned: $25.2
Price spread: +0.083% → 0.000%: $8.31
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $13.51
Costs to cover: 0.200%
Break-even: 3.2 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 7 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 7 min ago	0.38 bp	7.3 bp −$7	12.6 bp −$126	29.3 bp −$2,933	doesn't fit

SoDEX: 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	13.240	+0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.249	+0.085%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.243	+0.036%	$726K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.237	−0.011%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.224	−0.107%	$4K	$84K	10x	as long as short
dYdX LINK-USD	+0.0033%	1h	13.248	+0.075%	$351K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.330%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.234	−0.030%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.236	−0.012%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.240	+0.013%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.244	+0.049%	$406K	$314K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.241	+0.023%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.244	+0.049%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.244	+0.045%	$123.3M	$303.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.241	+0.023%	$85.4M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.249	+0.083%	$27.9M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.259	+0.159%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.239	+0.008%	$131.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.249	+0.083%	$37.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.242	+0.030%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.248	+0.076%	$55.2M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.241	+0.023%	—	$21.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.231	−0.055%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.250	+0.090%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	+0.076%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.228	−0.076%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.245	+0.053%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.234	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.254	+0.120%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USDlong	+0.0100%	1h	13.238	long leg	$5K	$36K	10x
HTX LINK-USDT	+0.0100%	8h	13.239	+0.005%	$651K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.247	+0.065%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.242	+0.032%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.244	+0.045%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	13.249	+0.083%	$5.3M	$17.3M	75x
Hyperliquid LINK	+0.0293%	1h	13.252	+0.106%	$78.4M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.240	+0.014%	$5K	—	20x	as long as short
Backpack LINK_USDC_PERP	+0.0384%	1h	13.246	+0.060%	$366K	$381K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.244	+0.048%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.254	+0.121%	$20.5M	$11.5M	50x	as long as short