Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: ApeX Omni against Gate+0.325%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.176%−$18 · spread now +0.325%, 7d avg +0.061%

Together, before fees−0.090%−$9 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: ApeX Omni is 0.265% dearer against Gate than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.912	0.0100	pay 0.0100% / 8h	1h 57m	$124.2M	$15.0M	75x
Short	ApeX Omni LINKUSDT	12.954	0.0100	get 0.0013% / 1h	57m 24s	$132K	$673K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.325%Rate

Funding earned: $0
Price spread: +0.325% → +0.061%: $26.46
Slippage, 4 orders: −$34.37
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$32.91
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; ApeX Omni: live order book, 51 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 Gate live order book, 2 min ago	0.39 bp	10.8 bp −$11	15.5 bp −$155	31.2 bp −$3,120	76.6 bp −$38.3K
Sell ApeX Omni live order book, 51 min ago	8.12 bp	16.4 bp −$16	101.4 bp −$1,014	doesn't fit	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	12.913	+0.009%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.947	+0.273%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.914	+0.016%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0017%	8h	12.903	−0.070%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.965%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0052%	1h	12.939	+0.211%	$806K	$254K	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.358%	$3K	$81K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.925	+0.098%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.922	+0.079%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.915	+0.019%	$349K	$344K	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	12.917	+0.041%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.927	+0.118%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.915	+0.023%	$119.1M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.904	−0.062%	$83.3M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.908	−0.031%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.931	+0.147%	$181K	$94K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.912	long leg	$124.2M	$15.0M	75x
MEXC LINK_USDT	+0.0100%	8h	12.917	+0.039%	$33.1M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.919	+0.054%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.908	−0.031%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.914	+0.015%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.945	+0.256%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.938	+0.205%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.951	+0.298%	$579K	$2.9M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.954	+0.325%	$132K	$673K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.919	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.932	+0.154%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.956	+0.342%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.933	+0.163%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.899	−0.100%	$632K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.908	−0.033%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.911	−0.008%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.945	+0.256%	$934K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.934	+0.170%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.944	+0.248%	$5.2M	$15.9M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0220%	1h	12.938	+0.201%	$337K	$389K	15x	as long as short
Hyperliquid LINK	+0.0262%	1h	12.930	+0.139%	$80.6M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.914	+0.015%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0574%	8h	12.951	+0.302%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.1035%	1h	12.927	+0.117%	$344K	$33K	10x	as long as short