Funding arb · Price arb /

LINK

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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 Arcus−0.108%7-day average −0.061% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.108%, 7d avg −0.061%

Together, before fees+0.260%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.046% cheaper against Arcus than usual: you would sell low and buy high (spread −0.108% now, against its 7-day average of −0.061%). If the spread goes back, that is −$5 on $10k: about 31 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	13.002	0.0100	pay 0.0013% / 1h	9m 14s	$182K	$165K	10x
Short	BloFin LINK-USDT	12.988	0.0220	get 0.0220% / 8h	5h 09m	$5.3M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Arcus. 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 ArcusbpFee BloFinbpOrdersPrice spread, now −0.108%Rate

Funding earned: $25.2
Price spread: −0.108% → −0.061%: −$4.62
Slippage, 4 orders: −$29.91
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.83
Costs to cover: 0.464%
Break-even: 14.2 days

Slippage from Arcus: live order book, 54 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 Arcus live order book, 54 min ago	11.89 bp	15.8 bp −$16	32.2 bp −$322	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	1.15 bp	7.9 bp −$8	10.6 bp −$106	26.7 bp −$2,666	68.4 bp −$34.2K

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	12.983	−0.144%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.993	−0.068%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.983	−0.147%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.630%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	12.979	−0.177%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.994	−0.062%	$964K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.981	−0.160%	$1.9M	$2.8M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0097%	1h	12.986	−0.120%	$774K	$177K	50x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	−0.097%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.984	−0.139%	$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	12.979	−0.179%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.988	−0.106%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.985	−0.134%	$274K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.983	−0.146%	$120.0M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.980	−0.169%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.981	−0.162%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.002	long leg	$182K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	12.983	−0.146%	$128.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.984	−0.138%	$32.5M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	−0.077%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.980	−0.169%	$54.0M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.981	−0.162%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.006	+0.031%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.100%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.993	−0.069%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.066%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.115%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.988	−0.108%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.980	−0.171%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.999	−0.021%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.982	−0.154%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.976	−0.202%	$640K	$691K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.978	−0.184%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.984	−0.142%	$544K	$2K	3x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.988	−0.108%	$5.3M	$15.7M	75x
Reya LINKRUSDPERP	+0.0388%	1h	12.978	−0.184%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.985	−0.128%	$6.8M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0592%	1h	12.987	−0.117%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0606%	8h	13.000	−0.015%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0646%	1h	13.001	−0.008%	$81.8M	$27.3M	10x	as long as short