Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.007%

Price spread now: Bybit against Extended−0.106%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days+0.140%+$14 · spread now −0.106%, 7d avg +0.037%

Together, before fees+0.076%+ Points / potential airdropExtended: Active · farm board+$8 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: Bybit is 0.143% cheaper against Extended than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	13.035	0.0104	pay 0.0013% / 1h	51m 45s	$631K	$2.0M	25x
Short	Bybit LINKUSDT	13.021	0.0100	get 0.0100% / 8h	3h 51m	$84.2M	$72.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$0.84
Price spread: −0.106% → +0.037%: −$14.32
Slippage, 4 orders: −$11.95
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.11
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago	2.30 bp	6.3 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.38 bp	7.4 bp −$7	12.4 bp −$124	35.1 bp −$3,508	doesn't fit

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 −0.0089% / S +0.0166%	1h	13.046	+0.082%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.052	+0.129%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.047	+0.090%	$186K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.870%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.043	+0.063%	$118K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.981	−0.416%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.027	−0.063%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.024	−0.080%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.052	+0.133%	$394K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.045	+0.076%	$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	13.024	−0.084%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.024	−0.083%	$121.2M	$299.7M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.021	−0.106%	$84.2M	$72.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.025	−0.076%	$27.6M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.066	+0.239%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.044	+0.070%	$129.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.038	+0.024%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.050	+0.116%	$22.9M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.027	−0.060%	$54.2M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.032	−0.022%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.227%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.022	−0.096%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.275%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.023	−0.091%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.058	+0.178%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.043	+0.060%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.056	+0.161%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.044	+0.070%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.016	−0.144%	$639K	$694K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	13.035	long leg	$631K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	13.047	+0.094%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.046	+0.086%	$950K	$2.8M	50x	as long as short
dYdX LINK-USD	+0.0156%	1h	13.022	−0.101%	$345K	$30K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0210%	1h	13.049	+0.108%	$785K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.043	+0.063%	$5.3M	$15.8M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0222%	1h	13.053	+0.139%	$344K	$390K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.044	+0.073%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.049	+0.108%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0398%	1h	13.044	+0.070%	$81.7M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0521%	8h	13.057	+0.170%	$20.2M	$11.3M	50x	as long as short