Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.003%

Price spread now: edgeX against Coinbase International−0.141%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.141%, 7d avg −0.039%

Together, before fees+0.056%+ Points / potential airdropedgeX: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and edgeX is 0.103% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.039%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.056%, 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	Coinbase International LINK-PERP-INTX	13.000	0.0200	pay 0.0025% / 1h	57m 16s	$977K	$3.2M	50x
Short	edgeX LINKUSDC	12.982	0.0100	get 0.0050% / 4h	1h 57m	$43K	$309K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$21
Price spread: −0.141% → −0.039%: −$10.26
Slippage, 4 orders: −$17.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$67.28
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; edgeX: live order book, 53 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 Coinbase International live order book, 5 min ago	2.31 bp	12.4 bp −$12	16.7 bp −$167	doesn't fit	doesn't fit
Sell edgeX live order book, 53 min ago	2.33 bp	6.9 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit

LINK on 39 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	−0.0190%	8h	12.978	−0.169%	$85K	$878K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.989	−0.086%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.998	−0.012%	$485K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.986	−0.104%	$115K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.010	+0.075%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.615%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0084%	8h	12.979	−0.158%	$609K	$676K	75x	as long as short
Lighter LINK	+0.0096%	1h	12.987	−0.098%	$1.9M	$2.3M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	12.977	−0.173%	$3.4M	$1.8M	—	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.984	−0.126%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.983	−0.131%	$349K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.998	−0.015%	$81.8M	$25.4M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.993	−0.052%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.988	−0.092%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.986	−0.108%	$120.5M	$268.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.982	−0.138%	$83.9M	$66.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.982	−0.138%	$27.3M	$74.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.004	+0.031%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.988	−0.092%	$134.2M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.985	−0.115%	$35.7M	$54.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.990	−0.077%	$23.0M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.984	−0.123%	$54.4M	$26.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.988	−0.092%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.002	+0.015%	$336K	$352K	15x	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	12.982	−0.141%	$43K	$309K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	−0.031%	$583K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.998	−0.015%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.990	−0.077%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.000	0.000%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.985	−0.115%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.979	−0.160%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.988	−0.093%	$545K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.988	−0.089%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0200%	1h	13.000	long leg	$977K	$3.2M	50x
BloFin LINK-USDT	+0.0220%	8h	12.987	−0.100%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0397%	1h	12.994	−0.046%	$890K	$355K	50x	as long as short
Reya LINKRUSDPERP	+0.0407%	1h	12.980	−0.151%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0438%	8h	13.001	+0.008%	$20.1M	$10.5M	50x	as long as short
dYdX LINK-USD	+0.0612%	1h	12.993	−0.054%	$349K	$46K	10x	as long as short