Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit+0.006%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

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

costs, in and out, $10k−$260.264% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.006%, 7d avg −0.026%

Together, before fees+0.012%+ Points / potential airdropExtended: Active · farm board+$1 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: Extended is 0.032% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	13.032	0.0100	pay 0.0100% / 8h	6h 02m	$84.3M	$71.4M	75x
Short	Extended LINK-USD	13.033	0.0104	get 0.0013% / 1h	2m 09s	$703K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0.84
Price spread: +0.006% → −0.026%: $3.23
Slippage, 4 orders: −$10.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.3
Costs to cover: 0.264%
Break-even: 192.9 days

Slippage from Bybit: live order book, 2 min ago; Extended: live order book, 1 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 Bybit live order book, 2 min ago	0.38 bp	6.7 bp −$7	11.2 bp −$112	31.1 bp −$3,109	doesn't fit
Sell Extended live order book, 1 min ago	2.30 bp	7.0 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit

LINK on 39 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	13.037	+0.036%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.033	+0.007%	$470K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.038	+0.046%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.850%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.036	+0.027%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.036	+0.031%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.042	+0.077%	$954K	$2.6M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.037	+0.042%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.027	−0.039%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.024	−0.058%	$396K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.038	+0.045%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.026	−0.046%	$276K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.039	+0.055%	$119.9M	$298.2M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	13.032	long leg	$84.3M	$71.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.036	+0.031%	$27.5M	$82.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.042	+0.077%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.038	+0.046%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.038	+0.046%	$33.2M	$59.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.043	+0.084%	$23.1M	$13.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.039	+0.054%	$54.2M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.037	+0.038%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	−0.336%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.446%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.003	−0.223%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.976	−0.430%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.036	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.036	+0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.051	+0.143%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.039	+0.054%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.018	−0.106%	$642K	$689K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.033	+0.006%	$703K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	13.036	+0.033%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0145%	1h	13.046	+0.107%	$339K	$378K	15x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	13.031	−0.004%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0411%	1h	13.026	−0.047%	$345K	$30K	10x	as long as short
Hyperliquid LINK	+0.0486%	1h	13.055	+0.176%	$81.4M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.041	+0.071%	$6.8M	$8.0M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0525%	1h	13.041	+0.072%	$775K	$212K	50x	as long as short
Phemex LINKUSDT	+0.0621%	8h	13.055	+0.176%	$20.1M	$11.5M	50x	as long as short