Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.001%

Price spread now: Orderly against Aevo−0.012%7-day average +0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.015%−$2 · spread now −0.012%, 7d avg +0.017%

Together, before fees−0.016%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.029% cheaper against Aevo than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	13.145	0.0104	pay 0.0013% / 1h	26m 30s	$551K	$2K	3x
Short	Orderly PERP_LINK_USDC	13.143	0.0044	get 0.0044% / 8h	26m 30s	$133K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.012%Rate

Funding earned: −$12.71
Price spread: −0.012% → +0.017%: −$2.91
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$37.61
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 53 min ago; Orderly: no order-book sample. Net counts fees only.

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, 53 min ago	21.65 bp	36.5 bp −$36	178.7 bp −$1,787	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0091% / S +0.0167%	1h	13.143	−0.014%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.149	+0.037%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.149	+0.033%	$726K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.128	−0.129%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.152	+0.056%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.665%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDCshort	+0.0044%	8h	13.143	−0.012%	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.141	−0.028%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	−0.060%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.143	−0.012%	$401K	$311K	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	13.144	−0.007%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.148	+0.023%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.140	−0.036%	$122.1M	$304.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.138	−0.050%	$84.6M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.134	−0.081%	$27.7M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.156	+0.086%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.143	−0.012%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.128	−0.127%	$36.5M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.141	−0.028%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.134	−0.081%	$54.6M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.139	−0.043%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	+0.010%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.140	−0.035%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.004%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.026%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.138	−0.050%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.143	−0.015%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.156	+0.087%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	−0.028%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.138%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.135	−0.076%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	13.145	long leg	$551K	$2K	3x
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.139	−0.043%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.146	+0.010%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0239%	1h	13.161	+0.125%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0281%	1h	13.151	+0.048%	$77.9M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.133	−0.090%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.151	+0.051%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.156	+0.086%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0667%	1h	13.151	+0.046%	$348K	$48K	10x	as long as short