Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Nado against Derive+0.010%7-day average — · you sell dearer than you buy

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

Long on Derive Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LINK-PERP	13.001	0.0100	pay 0.0013% / 1h	46m 50s	$16K	$22K	10x
Short	Nado LINK-PERP	13.002	0.0100	get 0.0012% / 1h	46m 50s	$392K	$310K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → 0.000%: $1.01
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$11.99
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Nado: live order book, 21 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 Nado live order book, 21 min ago	1.14 bp	7.1 bp −$7	16.5 bp −$165	doesn't fit	doesn't fit

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 −0.0090% / S +0.0167%	1h	13.012	+0.080%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.008	+0.056%	$461K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.012	+0.081%	$150K	—	150x	as long as short
dYdX LINK-USD	+0.0027%	1h	13.010	+0.071%	$345K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.624%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.022	+0.162%	$3K	$86K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0065%	1h	13.007	+0.046%	$772K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	13.001	−0.001%	$120K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.001	−0.001%	$956K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.004	+0.022%	$1.9M	$2.7M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0099%	8h	13.065	+0.492%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.002	+0.010%	$392K	$310K	10x
Aster LINKUSDT	+0.0100%	8h	13.006	+0.037%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	+0.067%	$276K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.005	+0.029%	$120.3M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.004	+0.022%	$83.9M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.004	+0.022%	$27.3M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.029	+0.214%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.000	−0.009%	$128.7M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.006	+0.037%	$35.1M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.006	+0.037%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	+0.022%	$53.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.007	+0.045%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.011	+0.075%	$342K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.991	−0.075%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.017	+0.121%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.013	+0.091%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.024	+0.175%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.015	+0.106%	$81K	$70K	10x	as long as short
Derive LINK-PERPlong	+0.0100%	1h	13.001	long leg	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.027	+0.195%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.002	+0.006%	$15K	$42K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.998	−0.021%	$641K	$871K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.997	−0.031%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	−0.008%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.004	+0.022%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	13.009	+0.057%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0470%	1h	13.017	+0.122%	$80.0M	$29.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.005	+0.029%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0567%	8h	13.019	+0.137%	$20.1M	$11.5M	50x	as long as short