Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against BingX−0.046%7-day average +0.004% · 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−$33as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.611%+$61 · spread now −0.046%, 7d avg +0.004%

Together, before fees+0.610%+ Points / potential airdropNado: Active · farm board+$61 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: Nado is 0.050% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.003	0.0100	pay 0.0100% / 8h	5h 11m	—	$22.5M	—
Short	Nado LINK-PERP	12.997	0.0100	get 0.0012% / 1h	11m 19s	$393K	$311K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.004%: −$5.04
Slippage, 4 orders: −$11.41
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$33.45
Costs to cover: 0.284%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Nado: live order book, 51 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, 7 min ago	1.54 bp	7.3 bp −$7	9.6 bp −$96	20.4 bp −$2,040	44.0 bp −$22.0K
Sell Nado live order book, 51 min ago	0.38 bp	7.7 bp −$8	18.1 bp −$181	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 −0.0090% / S +0.0167%	1h	13.000	−0.023%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.000	−0.020%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.003	−0.002%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.637%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.009	+0.046%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.014	+0.085%	$963K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.012	+0.066%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.026	+0.174%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.992	−0.083%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.997	−0.046%	$393K	$311K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.995	−0.059%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.995	−0.065%	$274K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.012	+0.069%	$120.3M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.010	+0.054%	$84.0M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.010	+0.054%	$27.4M	$82.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.013	+0.077%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.999	−0.031%	$128.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.014	+0.085%	$32.6M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.002	−0.008%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.010	+0.054%	$54.1M	$29.7M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.003	long leg	—	$22.5M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.989	−0.108%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.038	+0.269%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	+0.049%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	−0.055%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.108%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.004	+0.008%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.008	+0.037%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	+0.107%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	+0.069%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.238%	$640K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.008	+0.038%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.014	+0.085%	$546K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	+0.054%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0257%	1h	13.017	+0.108%	$773K	$175K	50x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.996	−0.055%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0546%	1h	12.991	−0.091%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.015	+0.093%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0590%	8h	13.026	+0.177%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0652%	1h	13.017	+0.108%	$81.9M	$27.4M	10x	as long as short