Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.007%

Price spread now: SunX against Coinbase International+0.117%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now +0.117%, 7d avg +0.080%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.037% dearer against Coinbase International than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of +0.080%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.077%, 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	13.117	0.0160	pay 0.0020% / 1h	20m 32s	$992K	$2.7M	50x
Short	SunX LINK-USDT	13.132	0.0100	get 0.0100% / 8h	20m 32s	$34K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$12.6
Price spread: +0.117% → +0.080%: $3.72
Slippage, 4 orders: −$45.34
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$72.22
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; SunX: live order book, 4 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, 3 min ago	3.43 bp	13.2 bp −$13	16.9 bp −$169	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	13.69 bp	19.2 bp −$19	doesn't fit	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 −0.0091% / S +0.0167%	1h	13.115	−0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.126	+0.065%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.112	−0.037%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.112	−0.038%	$132K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.129	+0.095%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.466%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.107	−0.076%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.120	+0.027%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.111	−0.044%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.110	−0.050%	$400K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.118	+0.010%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.117	+0.002%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.113	−0.027%	$121.8M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.113	−0.030%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.111	−0.046%	$27.7M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.128	+0.084%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.114	−0.023%	$130.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.115	−0.015%	$36.6M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.125	+0.061%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.112	−0.038%	$54.5M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.113	−0.030%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.115	−0.017%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.103	−0.107%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.117	0.000%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.114	−0.023%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.122	+0.038%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.106	−0.082%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.132	+0.117%	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.107	−0.076%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.110	−0.057%	$645K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.108	−0.072%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.111	−0.047%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0160%	1h	13.117	long leg	$992K	$2.7M	50x
BloFin LINK-USDT	+0.0220%	8h	13.107	−0.076%	$5.2M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.123	+0.046%	$362K	$375K	15x	as long as short
Hyperliquid LINK	+0.0286%	1h	13.139	+0.168%	$77.9M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.116	−0.008%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.115	−0.015%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0489%	8h	13.129	+0.091%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0577%	1h	13.121	+0.034%	$348K	$48K	10x	as long as short