Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against ApeX Omni+0.108%53s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$570.574% of the position

Long on ApeX Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.108%, 7d avg +0.013%

Together, before fees−0.448%−$45 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: Arcus is 0.094% dearer against ApeX Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 53 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	ApeX Omni LINKUSDT	13.017	0.0100	pay 0.0013% / 1h	10m 18s	$133K	$672K	50x
Short	Arcus LINK-USD	13.031	0.0100	get 0.0013% / 1h	10m 18s	$182K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against ApeX Omni. 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 ApeX OmnibpFee ArcusbpOrdersPrice spread, now +0.108%Rate

Funding earned: $0
Price spread: +0.108% → +0.013%: $9.42
Slippage, 4 orders: −$42.85
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$47.94
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 53 min ago; Arcus: live order book, 53 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 ApeX Omni live order book, 53 min ago	5.76 bp	13.4 bp −$13	66.7 bp −$667	doesn't fit	doesn't fit
Sell Arcus live order book, 53 min ago	11.89 bp	14.3 bp −$14	22.9 bp −$229	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	13.006	−0.088%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.000	−0.128%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.008	−0.072%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.740%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.004	−0.100%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.024	+0.054%	$964K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.014	−0.020%	$1.9M	$2.8M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0096%	1h	13.008	−0.068%	$773K	$175K	50x	as long as short
Phoenix LINK	+0.0098%	1h	13.026	+0.066%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.019	+0.016%	$31K	$2K	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	13.013	−0.031%	$394K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.020	+0.022%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.017	+0.004%	$275K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.012	−0.038%	$120.3M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.006	−0.085%	$84.0M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.005	−0.092%	$27.4M	$82.5M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	13.031	+0.108%	$182K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	13.008	−0.069%	$128.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.012	−0.038%	$32.6M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.021	+0.031%	$23.0M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	−0.100%	$54.1M	$29.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.008	−0.069%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.020	+0.023%	$345K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.215%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	−0.059%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	−0.163%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	13.017	long leg	$133K	$672K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.024	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.004	−0.103%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.028	+0.085%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.005	−0.092%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.346%	$640K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.998	−0.145%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.005	−0.096%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	−0.054%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	13.004	−0.096%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.008	−0.067%	$6.8M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0575%	1h	13.016	−0.007%	$345K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0590%	8h	13.026	+0.069%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0651%	1h	13.027	+0.077%	$82.0M	$27.4M	10x	as long as short