Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0056%/8h= −6.2% APRpaid last 24h −0.001%

Price spread now: Orderly against edgeX−0.114%71s7-day average +0.051% · you buy dearer than you sell

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.216%+$22 · spread now −0.114%, 7d avg +0.051%

Together, before fees+0.210%+ Points / potential airdropedgeX: Active · farm board+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.165% cheaper against edgeX than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.051%). Swap the legs. The two prices were read 71 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	13.140	0.0100	pay 0.0050% / 4h	25m 42s	$44K	$307K	20x
Short	Orderly PERP_LINK_USDC	13.125	0.0044	get 0.0044% / 8h	25m 42s	$133K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.114%Rate

Funding earned: −$11.86
Price spread: −0.114% → +0.051%: −$16.52
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$43.39
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 52 min ago; Orderly: no order-book sample. 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 edgeX live order book, 52 min ago	2.28 bp	6.8 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0091% / S +0.0167%	1h	13.127	−0.096%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.148	+0.059%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.128	−0.092%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.128	−0.094%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.152	+0.091%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.632%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDCshort	+0.0044%	8h	13.125	−0.114%	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.119	−0.162%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	−0.025%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.143	+0.023%	$401K	$311K	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	13.126	−0.107%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.123	−0.131%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.119	−0.160%	$121.9M	$304.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.118	−0.167%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.117	−0.175%	$27.7M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.156	+0.122%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.123	−0.129%	$130.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.120	−0.152%	$36.5M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.126	−0.107%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.122	−0.137%	$54.6M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.122	−0.137%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.138	−0.015%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.140	long leg	$44K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.039%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.061%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.138	−0.015%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.121	−0.142%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.149	+0.066%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.124	−0.122%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.126	−0.103%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.117	−0.172%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.126	−0.106%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.137	−0.023%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.146	+0.046%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0235%	1h	13.131	−0.068%	$362K	$377K	15x	as long as short
Hyperliquid LINK	+0.0282%	1h	13.140	+0.003%	$77.9M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.133	−0.055%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.132	−0.065%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0482%	8h	13.142	+0.015%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0648%	1h	13.124	−0.119%	$348K	$48K	10x	as long as short