Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.014%

Price spread now: Binance against Injective+6.113%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.007%−$101 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 6.113% dearer against Injective than usual: you sell high and buy low: +$611 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −1.007%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	6m 59s	$4K	$48K	12x
Short	Binance LINKUSDT	13.158	0.0100	get 0.0100% / 8h	7h 06m	$122.1M	$297.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +6.113%Rate

Funding earned: $14
Price spread: +6.113% → 0.000%: $611.29
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $615.27
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 7 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	0.38 bp	5.5 bp −$5	9.7 bp −$97	38.1 bp −$3,815	114.9 bp −$57.4K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0091% / S +0.0167%	1h	13.174	+6.242%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.182	+6.308%	$464K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.175	+6.251%	$134K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Phoenix LINK	+0.0036%	1h	13.189	+6.363%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0069%	1h	13.181	+6.300%	$783K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.174	+6.242%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.174	+6.243%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.239	+6.769%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.177	+6.262%	$404K	$307K	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	13.178	+6.273%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.185	+6.327%	$276K	$154K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	13.158	+6.113%	$122.1M	$297.9M	75x
Bybit LINKUSDT	+0.0100%	8h	13.156	+6.097%	$84.8M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.156	+6.097%	$27.6M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.196	+6.419%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.170	+6.210%	$130.4M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.163	+6.153%	$36.4M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.170	+6.210%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.163	+6.153%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.156	+6.097%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.169	+6.204%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.193	+6.398%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+6.323%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.199	+6.444%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.178	+6.274%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.174	+6.239%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.189	+6.365%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	+6.234%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	+6.190%	$649K	$866K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.156	+6.099%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.176	+6.258%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.183	+6.315%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0162%	1h	13.180	+6.290%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.169	+6.202%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.181	+6.300%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.169	+6.206%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0438%	1h	13.183	+6.317%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0486%	8h	13.190	+6.371%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0548%	1h	13.191	+6.379%	$81.5M	$25.0M	10x	as long as short