Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.007%

Price spread now: Coinbase International against SunX−0.114%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.114%, 7d avg −0.081%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.033% cheaper against SunX than usual: you would sell low and buy high (spread −0.114% now, against its 7-day average of −0.081%). If the spread goes back, that is −$3 on $10k: about 5.5 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.079%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.236	0.0100	pay 0.0100% / 8h	59m 30s	$34K	$1.6M	30x
Short	Coinbase International LINK-PERP-INTX	13.221	0.0120	get 0.0015% / 1h	59m 30s	$999K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.114%Rate

Funding earned: $4.2
Price spread: −0.114% → −0.081%: −$3.31
Slippage, 4 orders: −$44.14
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$61.26
Costs to cover: 0.621%
Break-even: 109.1 days

Slippage from SunX: live order book, 5 min ago; Coinbase International: live order book, 4 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, 5 min ago	13.69 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	3.03 bp	12.6 bp −$13	16.2 bp −$162	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 −0.0090% / S +0.0167%	1h	13.217	−0.142%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.231	−0.041%	$488K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.217	−0.147%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0007%	1h	13.226	−0.076%	$725K	$128K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.317%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.203	−0.249%	$4K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.216	−0.152%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0055%	1h	13.214	−0.170%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.214	−0.168%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.209	−0.205%	$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	13.207	−0.216%	$404K	$313K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.216	−0.151%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.214	−0.168%	$277K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.218	−0.137%	$123.0M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.213	−0.175%	$85.3M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.219	−0.129%	$27.9M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.226	−0.076%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.211	−0.190%	$130.9M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.215	−0.159%	$37.0M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.216	−0.152%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.210	−0.197%	$55.0M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.215	−0.159%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.320%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.239%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.203	−0.250%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	−0.220%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.216	−0.152%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.219	−0.133%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.236	long leg	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.222	−0.107%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.200	−0.277%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.207	−0.221%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.224	−0.091%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	13.221	−0.114%	$999K	$2.8M	50x
BloFin LINK-USDT	+0.0220%	8h	13.206	−0.227%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.231	−0.039%	$365K	$380K	15x	as long as short
Hyperliquid LINK	+0.0302%	1h	13.228	−0.061%	$78.2M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.210	−0.195%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0460%	8h	13.234	−0.016%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0691%	1h	13.228	−0.060%	$7.0M	$8.2M	50x	as long as short