Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.003%

Price spread now: Coinbase International against Gate+0.023%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.023%, 7d avg +0.029%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	13.241	0.0100	pay 0.0100% / 8h	49m 32s	$131.2M	$12.7M	75x
Short	Coinbase International LINK-PERP-INTX	13.244	0.0160	get 0.0020% / 1h	49m 32s	$1.0M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.023%Rate

Funding earned: $12.6
Price spread: +0.023% → +0.029%: −$0.65
Slippage, 4 orders: −$27.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$40.26
Costs to cover: 0.522%
Break-even: 29.4 days

Slippage from Gate: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago	1.51 bp	10.2 bp −$10	18.5 bp −$185	32.6 bp −$3,262	73.8 bp −$36.9K
Sell Coinbase International live order book, 4 min ago	3.39 bp	13.0 bp −$13	16.2 bp −$162	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 −0.0090% / S +0.0167%	1h	13.247	+0.046%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.247	+0.044%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.245	+0.031%	$726K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.248	+0.050%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.240	−0.008%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.351%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.241	0.000%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.242	+0.005%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.239	−0.015%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.259	+0.136%	$406K	$313K	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	13.248	+0.056%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.246	+0.037%	$278K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.239	−0.015%	$123.3M	$303.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.238	−0.023%	$85.5M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.242	+0.008%	$28.0M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.259	+0.136%	$186K	$172K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.241	long leg	$131.2M	$12.7M	75x
MEXC LINK_USDT	+0.0100%	8h	13.243	+0.015%	$36.9M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.250	+0.068%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.237	−0.030%	$55.1M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.242	+0.008%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.238	−0.024%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.245	+0.030%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.244	+0.020%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.258	+0.128%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.257	+0.121%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.239	−0.019%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.265	+0.179%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.242	+0.008%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.239	−0.011%	$651K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.239	−0.018%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.245	+0.034%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0113%	1h	13.241	−0.003%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0160%	1h	13.244	+0.023%	$1.0M	$2.8M	50x
BloFin LINK-USDT	+0.0220%	8h	13.240	−0.008%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0292%	1h	13.261	+0.151%	$78.5M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0377%	1h	13.249	+0.060%	$366K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.248	+0.052%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.256	+0.113%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.247	+0.046%	$7.0M	$8.2M	50x	as long as short