Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against SunX−0.085%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.085%, 7d avg −0.057%

Together, before fees−0.038%−$4 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: ApeX Omni is 0.028% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.911	0.0100	pay 0.0100% / 8h	53m 09s	$33K	$1.4M	30x
Short	ApeX Omni LINKUSDT	12.900	0.0100	get 0.0013% / 1h	53m 09s	$132K	$669K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.057%: −$2.84
Slippage, 4 orders: −$49
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$69.84
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; ApeX Omni: live order book, 50 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 SunX live order book, 11 min ago	13.68 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 50 min ago	6.98 bp	14.6 bp −$15	112.2 bp −$1,122	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 −0.0087% / S +0.0165%	1h	12.892	−0.146%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0053%	8h	12.886	−0.194%	$91K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.903	−0.065%	$513K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.899	−0.096%	$806K	$268K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.892	−0.144%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.958%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.902	−0.070%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.895	−0.125%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.899	−0.092%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.897	−0.108%	$354K	$339K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.903	−0.062%	$80.8M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.900	−0.086%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.899	−0.089%	$274K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.898	−0.101%	$119.2M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.894	−0.132%	$83.3M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.896	−0.116%	$27.0M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.912	+0.008%	$180K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.893	−0.139%	$133.5M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.895	−0.124%	$33.6M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.898	−0.101%	$22.8M	$12.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.897	−0.108%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.895	−0.124%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.900	−0.085%	$335K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	−0.293%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	−0.087%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.896	−0.116%	$581K	$3.0M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.900	−0.085%	$132K	$669K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.900	−0.085%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.888	−0.176%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.911	long leg	$33K	$1.4M	30x
SoDEX LINK-USD	+0.0100%	1h	12.892	−0.147%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.896	−0.120%	$630K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.896	−0.116%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.885	−0.201%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.893	−0.141%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.903	−0.062%	$929K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.898	−0.101%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.888	−0.180%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0555%	8h	12.909	−0.015%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0575%	1h	12.902	−0.071%	$344K	$45K	10x	as long as short