Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Bybit against Arcus−0.158%7-day average −0.090% · 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−$450.446% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.158%, 7d avg −0.090%

Together, before fees+0.095%+$10 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: Bybit is 0.068% cheaper against Arcus than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	13.255	0.0100	pay 0.0013% / 1h	48m 43s	$186K	$172K	10x
Short	Bybit LINKUSDT	13.234	0.0100	get 0.0100% / 8h	48m 43s	$85.4M	$71.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.158%Rate

Funding earned: $0
Price spread: −0.158% → −0.090%: −$6.81
Slippage, 4 orders: −$29.15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$51.46
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Arcus: live order book, 29 min ago; Bybit: 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, 29 min ago	6.07 bp	21.5 bp −$22	37.5 bp −$375	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.38 bp	6.3 bp −$6	11.0 bp −$110	35.0 bp −$3,504	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	13.238	−0.132%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.245	−0.078%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.233	−0.164%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.239	−0.123%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.240	−0.114%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.450%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.227	−0.211%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.241	−0.109%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.236	−0.142%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.245	−0.074%	$406K	$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	13.249	−0.049%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.244	−0.084%	$278K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.242	−0.096%	$123.3M	$303.6M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.234	−0.158%	$85.4M	$71.0M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.241	−0.106%	$28.0M	$86.1M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.255	long leg	$186K	$172K	10x
Gate LINK_USDT	+0.0100%	8h	13.244	−0.083%	$131.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.242	−0.098%	$36.8M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.249	−0.045%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.236	−0.143%	$55.1M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.243	−0.091%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.238	−0.129%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.245	−0.076%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.244	−0.085%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.251	−0.030%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.242	−0.098%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.226	−0.218%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.252	−0.026%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.234	−0.158%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.230	−0.186%	$651K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.246	−0.069%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.236	−0.142%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0152%	1h	13.239	−0.120%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.233	−0.166%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.236	−0.143%	$5.2M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0293%	1h	13.260	+0.038%	$78.5M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0365%	1h	13.245	−0.075%	$366K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.235	−0.148%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0467%	8h	13.250	−0.038%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.240	−0.111%	$7.0M	$8.2M	50x	as long as short