Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.012%

Price spread now: Bitget against Extended+0.001%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.001%, 7d avg +0.029%

Together, before fees+0.033%+ Points / potential airdropExtended: Active · farm board+$3 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: Bitget is 0.028% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	13.042	0.0104	pay 0.0013% / 1h	25m 49s	$695K	$2.0M	25x
Short	Bitget LINKUSDT	13.042	0.0100	get 0.0100% / 8h	6h 25m	$54.2M	$31.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$0.84
Price spread: +0.001% → +0.029%: −$2.82
Slippage, 4 orders: −$12.2
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$32.86
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Bitget: live order book, 3 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 Extended live order book, 3 min ago	1.15 bp	8.9 bp −$9	12.1 bp −$121	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.38 bp	8.2 bp −$8	15.0 bp −$150	31.1 bp −$3,113	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	13.047	+0.037%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.043	+0.006%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.047	+0.036%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.921%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.972	−0.534%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.046	+0.032%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.035	−0.053%	$956K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.051	+0.073%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.045	+0.022%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.041	−0.003%	$396K	$319K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.051	+0.070%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.039	−0.021%	$276K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.044	+0.013%	$119.7M	$303.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.038	−0.029%	$84.2M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.039	−0.022%	$27.5M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.055	+0.101%	$183K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.048	+0.047%	$128.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.044	+0.017%	$33.1M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.050	+0.063%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.042	+0.001%	$54.2M	$31.0M	75x
BingX LINK-USDT	+0.0100%	8h	13.039	−0.022%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.044	+0.019%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.982	−0.460%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.589%	$589K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.992	−0.382%	$133K	$677K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.052	+0.078%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.048	+0.048%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.061	+0.147%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.051	+0.070%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.035%	$643K	$860K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	13.042	long leg	$695K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	13.051	+0.070%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0115%	1h	13.061	+0.147%	$339K	$386K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0271%	1h	13.057	+0.114%	$775K	$212K	50x	as long as short
dYdX LINK-USD	+0.0278%	1h	13.028	−0.107%	$345K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.044	+0.017%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0434%	1h	13.059	+0.132%	$80.6M	$26.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0499%	1h	13.058	+0.123%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0591%	8h	13.063	+0.162%	$20.2M	$11.5M	50x	as long as short