Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against edgeX+0.049%62s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.283% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.277%+$28 · spread now +0.049%, 7d avg +0.004%

Together, before fees+0.275%+ Points / potential airdropedgeX: Active · Nado: Active · farm board+$27 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: Nado is 0.045% dearer against edgeX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	13.027	0.0100	pay 0.0050% / 4h	1h 55m	$43K	$307K	20x
Short	Nado LINK-PERP	13.033	0.0100	get 0.0012% / 1h	55m 49s	$396K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → +0.004%: $4.52
Slippage, 4 orders: −$12.29
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$23.77
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from edgeX: live order book, 7 min ago; Nado: live order book, 7 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 edgeX live order book, 7 min ago	2.30 bp	6.8 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell Nado live order book, 7 min ago	0.38 bp	7.7 bp −$8	18.1 bp −$181	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	13.036	+0.070%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	−0.264%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.031	+0.035%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.810%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.030	+0.028%	$3K	$83K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.004	−0.173%	$952K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.030	+0.026%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.994	−0.252%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.039	+0.097%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.033	+0.049%	$396K	$316K	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.017	−0.074%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.032	+0.042%	$275K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.994	−0.250%	$119.6M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.990	−0.281%	$84.0M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.993	−0.258%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.052	+0.195%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.014	−0.096%	$128.4M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	−0.104%	$32.2M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.014	−0.096%	$23.1M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.006	−0.158%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.004	−0.173%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.025	−0.012%	$340K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.060%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.027	long leg	$43K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.023	−0.025%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.039	+0.095%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.046	+0.149%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.030	+0.029%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.054	+0.211%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.030	+0.026%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.024	−0.024%	$642K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.008	−0.140%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.033	+0.048%	$547K	$2K	3x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.035	+0.068%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0479%	1h	13.036	+0.071%	$774K	$212K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.032	+0.044%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0567%	8h	13.036	+0.072%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0610%	1h	13.020	−0.050%	$81.4M	$26.6M	10x	as long as short
dYdX LINK-USD	+0.0632%	1h	13.023	−0.028%	$345K	$30K	10x	as long as short