Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.008%

Price spread now: OKX against Aevo−0.067%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on Aevo Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.067%, 7d avg −0.022%

Together, before fees−0.080%−$8 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: OKX is 0.045% cheaper against Aevo than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	12.873	0.0104	pay 0.0013% / 1h	18m 16s	$540K	$2K	3x
Short	OKX LINK-USDT-SWAP	12.864	0.0100	get 0.0100% / 8h	18m 16s	$27.0M	$79.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Aevo. 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 AevobpFee OKXbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$0.84
Price spread: −0.067% → −0.022%: −$4.51
Slippage, 4 orders: −$56.98
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$88.32
Costs to cover: 0.830%
Break-even: never at this rate

Slippage from Aevo: live order book, 21 min ago; OKX: live order book, 6 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 Aevo live order book, 21 min ago	20.57 bp	33.2 bp −$33	185.7 bp −$1,857	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.39 bp	6.3 bp −$6	14.5 bp −$145	30.4 bp −$3,039	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	12.866	−0.048%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0085%	8h	12.859	−0.106%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.870	−0.019%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.867	−0.044%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.671%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.842	−0.234%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.867	−0.047%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.870	−0.021%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.864	−0.067%	$346K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.878	+0.042%	$80.4M	$28.1M	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	12.871	−0.013%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.869	−0.030%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.870	−0.020%	$119.0M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.862	−0.082%	$83.2M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.864	−0.067%	$27.0M	$79.9M	50x
Arcus LINK-USD	+0.0100%	1h	12.883	+0.081%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.868	−0.036%	$132.3M	$17.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.868	−0.036%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.873	+0.003%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.864	−0.067%	$53.7M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.866	−0.051%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.875	+0.019%	$334K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.823	−0.383%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.838	−0.268%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.830	−0.330%	$575K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.845	−0.215%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.868	−0.036%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.865	−0.057%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.883	+0.085%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.870	−0.020%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.837	−0.274%	$627K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.872	−0.006%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.863	−0.077%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	12.873	long leg	$540K	$2K	3x
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.832	−0.316%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.870	−0.020%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0278%	1h	12.877	+0.030%	$805K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.858	−0.113%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0549%	8h	12.882	+0.073%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0651%	1h	12.861	−0.088%	$343K	$45K	10x	as long as short