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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against SunX−0.189%55s7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.503% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.189%, 7d avg −0.110%

Together, before fees−0.065%−$6 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: BingX is 0.078% cheaper against SunX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.110%. The two prices were read 55 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	SunX LINK-USDT	12.973	0.0100	pay 0.0100% / 8h	4h 54m	$33K	$1.5M	30x
Short	BingX LINK-USDT	12.948	0.0100	get 0.0100% / 8h	4h 54m	—	$22.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.189%Rate

Funding earned: $0
Price spread: −0.189% → −0.110%: −$7.85
Slippage, 4 orders: −$32.33
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$58.18
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; BingX: live order book, 14 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, 10 min ago	13.68 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	1.54 bp	6.5 bp −$7	8.7 bp −$87	21.0 bp −$2,097	47.9 bp −$24.0K

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	12.949	−0.180%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.952	−0.159%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.951	−0.167%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.413%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.944	−0.220%	$117K	$1.4M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.963	−0.077%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.964	−0.066%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0098%	1h	12.920	−0.406%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.955	−0.136%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.960	−0.093%	$392K	$310K	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	12.959	−0.104%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.962	−0.081%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.952	−0.158%	$119.8M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.945	−0.212%	$83.6M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.946	−0.204%	$27.4M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.970	−0.019%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.956	−0.127%	$128.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.949	−0.181%	$32.3M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.959	−0.104%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.955	−0.135%	$53.8M	$29.6M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	12.948	−0.189%	—	$22.4M	—
Variational Omni LINK	+0.0100%	8h	12.956	−0.124%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.913	−0.461%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	−0.219%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.474%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.959	−0.104%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.945	−0.210%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.973	long leg	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.955	−0.135%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.942	−0.237%	$634K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.950	−0.176%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.948	−0.189%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.963	−0.072%	$773K	$184K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0166%	1h	12.969	−0.027%	$340K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	−0.096%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.951	−0.169%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.959	−0.102%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0450%	1h	12.970	−0.019%	$81.6M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0567%	1h	12.963	−0.073%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0616%	8h	12.967	−0.042%	$20.0M	$11.4M	50x	as long as short