Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: BloFin against ApeX Omni+0.015%103s7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

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

costs, in and out, $10k−$440.441% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now +0.015%, 7d avg −0.039%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.055% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.039%. The two prices were read 103 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	12.935	0.0100	pay 0.0013% / 1h	3m 42s	$133K	$672K	50x
Short	BloFin LINK-USDT	12.937	0.0220	get 0.0220% / 8h	5h 03m	$5.2M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.015%Rate

Funding earned: $25.2
Price spread: +0.015% → −0.039%: $5.48
Slippage, 4 orders: −$22.1
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$13.42
Costs to cover: 0.441%
Break-even: 10.7 days

Slippage from ApeX Omni: live order book, 60 min ago; BloFin: live order book, 5 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, 60 min ago	5.76 bp	13.4 bp −$13	66.7 bp −$667	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	1.54 bp	9.2 bp −$9	14.2 bp −$142	29.7 bp −$2,974	62.2 bp −$31.1K

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	12.935	+0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.946	+0.085%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.934	−0.004%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.136%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0063%	8h	12.933	−0.015%	$117K	$1.4M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.931	−0.031%	$941K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.918	−0.134%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	+0.421%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.916	−0.149%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.935	+0.004%	$391K	$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	12.922	−0.097%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.919	−0.124%	$272K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.925	−0.077%	$119.5M	$296.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.930	−0.039%	$83.4M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.914	−0.162%	$27.2M	$81.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.937	+0.015%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.913	−0.170%	$127.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.917	−0.139%	$32.1M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.922	−0.101%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.915	−0.155%	$53.7M	$29.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.917	−0.139%	—	$22.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.940	+0.039%	$341K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.930	−0.039%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.930	−0.037%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.939	+0.032%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	12.935	long leg	$133K	$672K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.941	+0.046%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.932	−0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.951	+0.125%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.935	0.000%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.912	−0.175%	$632K	$705K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.913	−0.166%	$644K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.936	+0.009%	$542K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0152%	1h	12.938	+0.026%	$771K	$177K	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.937	+0.015%	$5.2M	$15.7M	75x
Reya LINKRUSDPERP	+0.0388%	1h	12.931	−0.030%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0557%	1h	12.937	+0.017%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0609%	8h	12.951	+0.124%	$20.0M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0617%	1h	12.932	−0.023%	$81.4M	$27.3M	10x	as long as short
dYdX LINK-USD	+0.0647%	1h	12.917	−0.142%	$342K	$30K	10x	as long as short