Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Bybit against SunX−0.143%7-day average −0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.143%, 7d avg −0.123%

Together, before fees−0.100%−$10 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: Bybit is 0.020% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.196	0.0100	pay 0.0100% / 8h	2h 17m	$34K	$1.5M	30x
Short	Bybit LINKUSDT	13.177	0.0100	get 0.0100% / 8h	2h 17m	$84.9M	$69.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → −0.123%: −$2.01
Slippage, 4 orders: −$35.81
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$56.83
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Bybit: live order book, 1 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, 7 min ago	13.64 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.38 bp	7.7 bp −$8	16.2 bp −$162	41.6 bp −$4,158	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 −0.0092% / S +0.0166%	1h	13.181	−0.110%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.191	−0.034%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.185	−0.083%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.182	−0.108%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0017%	1h	13.177	−0.146%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.159	−0.280%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.031%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.175	−0.158%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0087%	8h	13.164	−0.243%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.196	+0.003%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.167	−0.220%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.181	−0.113%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.192	−0.030%	$78.0M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.186	−0.078%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.171	−0.189%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.193	−0.018%	$122.2M	$300.9M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.177	−0.143%	$84.9M	$69.7M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.174	−0.166%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	−0.052%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.183	−0.098%	$131.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.180	−0.120%	$37.5M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.186	−0.075%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.173	−0.174%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.179	−0.128%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.161	−0.262%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	−0.386%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.211%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.184	−0.090%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.176	−0.150%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.196	long leg	$34K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	13.179	−0.128%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.294%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.180	−0.117%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	−0.102%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.181	−0.113%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.186	−0.075%	$365K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.164	−0.242%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.180	−0.118%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.189	−0.052%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.189	−0.050%	$7.0M	$7.8M	50x	as long as short