Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.006%

Price spread now: Coinbase International against BingX+0.236%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 3 days (all we have)−0.205%−$20 · spread now +0.236%, 7d avg +0.032%

Together, before fees−0.258%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.204% dearer against BingX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.032%. Mind the row above: over the last 7 days funding on this pair cost −0.053%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.152	0.0100	pay 0.0100% / 8h	7h 06m	—	$22.4M	—
Short	Coinbase International LINK-PERP-INTX	13.183	0.0120	get 0.0015% / 1h	6m 36s	$1.0M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.236%Rate

Funding earned: $4.2
Price spread: +0.236% → +0.032%: $20.37
Slippage, 4 orders: −$19.87
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$15.3
Costs to cover: 0.399%
Break-even: 32.5 days

Slippage from BingX: live order book, 2 min ago; Coinbase International: live order book, 2 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 BingX live order book, 2 min ago	1.52 bp	7.0 bp −$7	9.3 bp −$93	18.2 bp −$1,816	42.4 bp −$21.2K
Sell Coinbase International live order book, 2 min ago	1.90 bp	11.8 bp −$12	15.9 bp −$159	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 −0.0091% / S +0.0167%	1h	13.174	+0.168%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.182	+0.230%	$464K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.175	+0.176%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.718%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.189	+0.281%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0069%	1h	13.181	+0.222%	$783K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.174	+0.167%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.158	+0.044%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.220	+0.521%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.156	+0.034%	$403K	$307K	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	13.160	+0.064%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.161	+0.070%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	−0.038%	$122.0M	$297.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.145	−0.053%	$84.7M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.147	−0.038%	$27.5M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.169	+0.129%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.156	+0.030%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.154	+0.015%	$36.4M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.161	+0.068%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.151	−0.008%	$54.5M	$30.1M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.152	long leg	—	$22.4M	—
Variational Omni LINK	+0.0100%	8h	13.169	+0.132%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.193	+0.314%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+0.243%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.199	+0.357%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.178	+0.198%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.174	+0.164%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.189	+0.284%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	+0.160%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	+0.118%	$649K	$866K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.145	−0.055%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.176	+0.182%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	13.183	+0.236%	$1.0M	$2.7M	50x
Backpack LINK_USDC_PERP	+0.0162%	1h	13.180	+0.213%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.169	+0.129%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.181	+0.222%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.169	+0.133%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0430%	1h	13.158	+0.043%	$348K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0486%	8h	13.190	+0.289%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0547%	1h	13.174	+0.167%	$81.4M	$25.0M	10x	as long as short