Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Extended against BingX−0.028%7-day average −0.046% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days−0.014%−$1 · spread now −0.028%, 7d avg −0.046%

Together, before fees−0.025%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.045	0.0100	pay 0.0100% / 8h	3h 53m	—	$22.5M	—
Short	Extended LINK-USD	13.041	0.0104	get 0.0013% / 1h	53m 10s	$631K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0.84
Price spread: −0.028% → −0.046%: $1.85
Slippage, 4 orders: −$10.3
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.62
Costs to cover: 0.253%
Break-even: 195.5 days

Slippage from BingX: live order book, 10 min ago; Extended: 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 BingX live order book, 10 min ago	1.54 bp	7.2 bp −$7	8.9 bp −$89	17.3 bp −$1,728	41.4 bp −$20.7K
Sell Extended live order book, 5 min ago	1.93 bp	5.2 bp −$5	7.0 bp −$70	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 −0.0089% / S +0.0166%	1h	13.040	−0.039%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.028	−0.129%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.041	−0.034%	$186K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.944%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.044	−0.008%	$118K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.981	−0.494%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.048	+0.021%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.024	−0.158%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.027	−0.142%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.036	−0.065%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.022	−0.174%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.049	+0.031%	$121.4M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.045	0.000%	$84.3M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.048	+0.023%	$27.6M	$81.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.039	−0.046%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.031	−0.107%	$129.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.050	+0.038%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.053	+0.061%	$22.9M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.048	+0.023%	$54.3M	$29.5M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.045	long leg	—	$22.5M	—
Variational Omni LINK	+0.0100%	8h	13.005	−0.305%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.022	−0.174%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.353%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.023	−0.169%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.042	−0.023%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.043	−0.013%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.053	+0.059%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.047	+0.015%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.016	−0.222%	$639K	$694K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.041	−0.028%	$631K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	13.049	+0.027%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.015	−0.230%	$947K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0207%	1h	13.058	+0.100%	$344K	$389K	15x	as long as short
dYdX LINK-USD	+0.0208%	1h	13.017	−0.212%	$345K	$30K	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.043	−0.015%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0242%	1h	13.053	+0.062%	$6.7M	$8.1M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0379%	1h	13.052	+0.056%	$785K	$202K	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.037	−0.058%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0407%	1h	13.053	+0.061%	$81.7M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0518%	8h	13.061	+0.123%	$20.2M	$11.3M	50x	as long as short