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 −0.002%

Price spread now: OKX against Extended+0.124%7-day average +0.049% · 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−$18as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 7 days−0.083%−$8 · spread now +0.124%, 7d avg +0.049%

Together, before fees−0.119%+ Points / potential airdropExtended: Active · farm board−$12 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: OKX is 0.076% dearer against Extended than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	12.893	0.0104	pay 0.0013% / 1h	22m 25s	$628K	$2.0M	25x
Short	OKX LINK-USDT-SWAP	12.909	0.0100	get 0.0100% / 8h	3h 22m	$27.3M	$80.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$0.84
Price spread: +0.124% → +0.049%: $7.57
Slippage, 4 orders: −$10.53
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.8
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	1.55 bp	4.8 bp −$5	5.8 bp −$58	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.39 bp	7.8 bp −$8	13.6 bp −$136	31.2 bp −$3,118	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	12.910	+0.136%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.935	+0.330%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.911	+0.137%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.823%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	12.906	+0.101%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.946	+0.409%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.907	+0.105%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.901	+0.064%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.903	+0.078%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.913	+0.157%	$1.2M	$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	12.909	+0.128%	$275K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.910	+0.132%	$119.8M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.907	+0.109%	$83.3M	$72.9M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.909	+0.124%	$27.3M	$80.6M	50x
Arcus LINK-USD	+0.0100%	1h	12.919	+0.202%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.904	+0.086%	$127.8M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.912	+0.148%	$32.6M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.912	+0.148%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.907	+0.109%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.913	+0.155%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.925	+0.249%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.938	+0.350%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.952	+0.456%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.938	+0.353%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.955	+0.481%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	+0.194%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.925	+0.247%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.940	+0.366%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.926	+0.256%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.918	+0.195%	$634K	$690K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.893	long leg	$628K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.910	+0.132%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.936	+0.334%	$920K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0145%	1h	12.932	+0.305%	$785K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.926	+0.256%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.930	+0.285%	$6.6M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0317%	1h	12.926	+0.256%	$80.8M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.908	+0.115%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0548%	8h	12.940	+0.365%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0884%	1h	12.914	+0.160%	$343K	$31K	10x	as long as short