Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against BingX−5.804%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.978%+$98 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.804% cheaper against BingX than usual: you would sell low and buy high (−$580 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.978%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.164	0.0100	pay 0.0100% / 8h	2h 21m	—	$21.8M	—
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	21m 15s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.804%Rate

Funding earned: −$14
Price spread: −5.804% → 0.000%: −$580.37
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$604.39
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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	1.14 bp	6.1 bp −$6	6.1 bp −$61	15.6 bp −$1,557	43.0 bp −$21.5K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0092% / S +0.0166%	1h	13.163	−0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.163	−0.011%	$474K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.171	+0.054%	$714K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.165	+0.011%	$133K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.159	−0.039%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0019%	1h	13.168	+0.032%	$349K	$60K	10x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.804%	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0043%	8h	13.161	−0.023%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0076%	8h	13.148	−0.121%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.172	+0.057%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.166	+0.012%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.165	+0.008%	$399K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.173	+0.068%	$77.9M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.169	+0.039%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.171	+0.051%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.164	+0.001%	$121.7M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.165	+0.008%	$84.7M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.167	+0.023%	$27.8M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.178	+0.106%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.164	0.000%	$130.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.160	−0.030%	$37.3M	$56.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.171	+0.053%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.163	−0.008%	$54.5M	$30.1M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.164	long leg	—	$21.8M	—
edgeX LINKUSDC	+0.0100%	4h	13.151	−0.096%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	−0.144%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.155	−0.068%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.170	+0.046%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.165	+0.006%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.183	+0.143%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.168	+0.030%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.135	−0.223%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.164	+0.003%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.169	+0.041%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.165	+0.008%	$988K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0118%	1h	13.165	+0.008%	$365K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.149	−0.114%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.156	−0.059%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0465%	8h	13.179	+0.114%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.177	+0.102%	$7.0M	$7.8M	50x	as long as short