Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Pacifica against Gate+0.072%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.072%, 7d avg +0.023%

Together, before fees+0.016%+ Points / potential airdropPacifica: Active · farm board+$2 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: Pacifica is 0.049% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.887	0.0100	pay 0.0100% / 8h	4h 49m	$127.3M	$12.8M	75x
Short	Pacifica LINK	12.896	0.0100	get 0.0013% / 1h	49m 15s	$273K	$176K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → +0.023%: $4.9
Slippage, 4 orders: −$31.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$50.07
Costs to cover: 0.550%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Pacifica: live order book, 9 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, 5 min ago	1.55 bp	16.8 bp −$17	22.8 bp −$228	40.2 bp −$4,017	83.4 bp −$41.7K
Sell Pacifica live order book, 9 min ago	3.88 bp	12.8 bp −$13	doesn't fit	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	12.883	−0.028%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.895	+0.059%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.883	−0.027%	$158K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0022%	1h	12.889	+0.019%	$769K	$189K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.779%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.880	−0.054%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.886	−0.010%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.884	−0.023%	$939K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.925	+0.295%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.896	+0.072%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.893	+0.043%	$390K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.883	−0.033%	$1.3M	$2.3M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	12.896	+0.072%	$273K	$176K	10x
Binance LINKUSDT	+0.0100%	8h	12.886	−0.008%	$119.1M	$296.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.881	−0.047%	$83.2M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.882	−0.039%	$27.2M	$81.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.904	+0.132%	$180K	$165K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.887	long leg	$127.3M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	12.883	−0.031%	$32.0M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.888	+0.008%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.884	−0.023%	$53.6M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.885	−0.016%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.891	+0.031%	$338K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.903	+0.126%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.943	+0.438%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.939	+0.400%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.914	+0.210%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.889	+0.016%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.881	−0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.900	+0.099%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.885	−0.016%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.883	−0.027%	$631K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.879	−0.066%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.889	+0.017%	$541K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.886	−0.008%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0387%	1h	12.899	+0.093%	$80.8M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.878	−0.066%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0396%	1h	12.887	+0.002%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0608%	8h	12.901	+0.109%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0770%	1h	12.896	+0.069%	$342K	$30K	10x	as long as short