Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.030%

Price spread now: Nado against BloFin−0.066%7-day average −0.018% · 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−$280.278% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.066%, 7d avg −0.018%

Together, before fees−0.099%+ Points / potential airdropNado: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Nado is 0.048% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.913	0.0220	pay 0.0220% / 8h	5h 06m	$5.4M	$15.0M	75x
Short	Nado LINK-PERP	12.905	0.0100	get 0.0012% / 1h	6m 48s	$346K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.066%Rate

Funding earned: −$25.2
Price spread: −0.066% → −0.018%: −$4.81
Slippage, 4 orders: −$8.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$57.81
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Nado: live order book, 39 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 BloFin live order book, 5 min ago	0.78 bp	6.8 bp −$7	13.2 bp −$132	26.8 bp −$2,683	doesn't fit
Sell Nado live order book, 39 min ago	0.39 bp	7.1 bp −$7	17.1 bp −$171	doesn't fit	doesn't fit

LINK on 40 exchanges

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
Orderly PERP_LINK_USDC	−0.0240%	8h	12.900	−0.101%	$84K	$842K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.914	+0.008%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.912	−0.009%	$479K	$2.0M	3.7x	as long as short
Phoenix LINK	0.0000%	1h	12.896	−0.128%	$3K	$81K	10x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.899	−0.108%	$114K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.973%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0075%	8h	12.874	−0.300%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.910	−0.024%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.907	−0.048%	$31K	$600	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.905	−0.066%	$346K	$274K	10x

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.922	+0.070%	$81.3M	$25.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.912	−0.006%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.911	−0.015%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.912	−0.009%	$120.1M	$264.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.905	−0.062%	$84.0M	$66.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.910	−0.023%	$27.5M	$72.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.922	+0.070%	$181K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.914	+0.008%	$133.2M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.915	+0.015%	$36.0M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.919	+0.046%	$23.0M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.909	−0.031%	$54.0M	$25.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.913	0.000%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.921	+0.062%	$325K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	−0.227%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.890	−0.180%	$585K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.170%	$104K	$685K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.913	0.000%	$82K	$65K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.902	−0.082%	$16K	$18K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.924	+0.082%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.910	−0.023%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	−0.166%	$605K	$674K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.907	−0.044%	$625K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.911	−0.017%	$541K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0174%	1h	12.912	−0.010%	$6.6M	$7.5M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	12.910	−0.023%	$989K	$3.1M	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.913	long leg	$5.4M	$15.0M	75x
Deribit LINK_USDC-PERPETUAL	+0.0377%	1h	12.917	+0.032%	$890K	$361K	50x	as long as short
Phemex LINKUSDT	+0.0380%	8h	12.926	+0.101%	$20.0M	$10.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0410%	1h	12.895	−0.138%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0482%	1h	12.907	−0.049%	$347K	$24K	10x	as long as short