Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: BloFin against Derive−0.018%7-day average — · you buy dearer than you sell

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

Long on Derive Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LINK-PERP	12.966	0.0100	pay 0.0013% / 1h	6m 11s	$16K	$22K	10x
Short	BloFin LINK-USDT	12.964	0.0220	get 0.0220% / 8h	1h 06m	$5.2M	$15.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Derive. 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 DerivebpFee BloFinbpOrdersPrice spread, now −0.018%Rate

Funding earned: $25.2
Price spread: −0.018% → 0.000%: −$1.82
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.38
Costs to cover: 0.180%
Break-even: 5.5 days

Slippage unknown: Derive: no order-book sample; BloFin: live order book, 3 min ago. 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 Derive no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.39 bp	6.5 bp −$7	12.1 bp −$121	25.7 bp −$2,569	71.7 bp −$35.8K

Derive: 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 −0.0087% / S +0.0165%	1h	12.969	+0.024%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0035%	8h	12.956	−0.080%	$94K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.974	+0.060%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.965	−0.008%	$156K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.368%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.963	−0.029%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.956	−0.082%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.968	+0.016%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.964	−0.018%	$355K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.959	−0.055%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.969	+0.020%	$276K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.956	−0.079%	$119.6M	$299.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.950	−0.126%	$83.7M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.955	−0.088%	$27.1M	$80.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.982	+0.121%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.958	−0.064%	$135.0M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.958	−0.064%	$34.6M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.958	−0.064%	$22.9M	$12.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.953	−0.103%	$54.1M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.958	−0.064%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.945	−0.164%	$3.3M	$1.9M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	−0.106%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.952	−0.109%	$584K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.962	−0.034%	$133K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.971	+0.036%	$81K	$70K	10x	as long as short
Derive LINK-PERPlong	+0.0100%	1h	12.966	long leg	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	12.985	+0.141%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.956	−0.080%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.944	−0.169%	$632K	$784K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.947	−0.146%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.955	−0.089%	$543K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0108%	1h	12.965	−0.010%	$337K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.963	−0.026%	$933K	$2.8M	50x	as long as short
Hyperliquid LINK	+0.0158%	1h	12.965	−0.010%	$81.1M	$28.0M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0192%	1h	12.956	−0.082%	$6.6M	$8.4M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.964	−0.018%	$5.2M	$15.9M	75x
Deribit LINK_USDC-PERPETUAL	+0.0229%	1h	12.961	−0.041%	$810K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.961	−0.038%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0549%	8h	12.972	+0.043%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0553%	1h	12.970	+0.030%	$346K	$45K	10x	as long as short