Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0187%/8h= −20.4% APRpaid last 24h −0.050%

Price spread now: Injective against BloFin−5.560%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.776%+$78 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 −$6 a day on $10k at the current rate, and Injective is 5.560% cheaper against BloFin than usual: you would sell low and buy high (−$556 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 +0.776%, 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	BloFin LINK-USDT	13.130	0.0220	pay 0.0220% / 8h	2h 02m	$5.2M	$16.9M	75x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	2m 58s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −5.560%Rate

Funding earned: −$39.2
Price spread: −5.560% → 0.000%: −$555.98
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$607.2
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 6 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 BloFin live order book, 6 min ago	0.76 bp	7.4 bp −$7	12.6 bp −$126	29.5 bp −$2,950	doesn't fit
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 −0.0090% / S +0.0167%	1h	13.137	+0.056%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.141	+0.085%	$469K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.142	+0.093%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.137	+0.057%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0013%	1h	13.131	+0.006%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.136	+0.048%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.560%	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0041%	8h	13.137	+0.053%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.142	+0.093%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.136	+0.047%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.138	+0.061%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.149	+0.145%	$77.5M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.138	+0.064%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.137	+0.050%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.139	+0.070%	$121.7M	$302.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.135	+0.038%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.138	+0.061%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.149	+0.145%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.137	+0.053%	$130.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.138	+0.061%	$36.6M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.142	+0.091%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.138	+0.061%	$54.4M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.136	+0.046%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.121	−0.069%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.120	−0.074%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.139%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.126	−0.030%	$153K	$665K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.140	+0.076%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.135	+0.035%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.155	+0.189%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.139	+0.069%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.120	−0.079%	$645K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.136	+0.048%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.142	+0.088%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.126	−0.030%	$988K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0112%	1h	13.149	+0.145%	$366K	$374K	15x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.130	long leg	$5.2M	$16.9M	75x
Reya LINKRUSDPERP	+0.0374%	1h	13.138	+0.057%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0475%	8h	13.155	+0.190%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.149	+0.143%	$6.9M	$8.0M	50x	as long as short