Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Binance against Nado−0.082%48s7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.258% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.479%−$48 · spread now −0.082%, 7d avg +0.010%

Together, before fees−0.481%+ Points / potential airdropNado: Active · farm board−$48 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: Binance is 0.091% cheaper against Nado than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.010%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.877	0.0100	pay 0.0012% / 1h	34m 47s	$349K	$335K	10x
Short	Binance LINKUSDT	12.867	0.0100	get 0.0100% / 8h	7h 34m	$118.8M	$297.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Nado. 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 NadobpFee BinancebpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → +0.010%: −$9.11
Slippage, 4 orders: −$8.84
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$34.96
Costs to cover: 0.258%
Break-even: 3591580093634347.5 days

Slippage from Nado: live order book, 63 min ago; Binance: 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 Nado live order book, 63 min ago	0.78 bp	5.7 bp −$6	16.1 bp −$161	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.39 bp	7.6 bp −$8	12.0 bp −$120	29.9 bp −$2,990	106.9 bp −$53.5K

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
Orderly PERP_LINK_USDC	−0.0114%	8h	12.868	−0.074%	$90K	$976K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.873	−0.035%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.877	−0.003%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.874	−0.023%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.708%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.875	−0.017%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.886	+0.070%	$3K	$85K	10x	as long as short
Bybit LINKUSDT	+0.0087%	8h	12.863	−0.113%	$83.3M	$72.9M	75x	as long as short
Lighter LINK	+0.0096%	1h	12.873	−0.036%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.865	−0.095%	$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-PERPlong	+0.0100%	1h	12.877	long leg	$349K	$335K	10x
Hyperliquid LINK	+0.0100%	1h	12.878	+0.004%	$80.4M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.875	−0.018%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.869	−0.070%	$274K	$181K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	12.867	−0.082%	$118.8M	$297.0M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.864	−0.105%	$27.0M	$79.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.889	+0.089%	$180K	$98K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.873	−0.035%	$133.5M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.872	−0.043%	$35.6M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.872	−0.043%	$22.8M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.873	−0.035%	$53.7M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.871	−0.050%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.880	+0.019%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.870	−0.055%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	+0.049%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.879	+0.010%	$579K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.895	+0.136%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.883	+0.043%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.874	−0.023%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.888	+0.082%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.871	−0.050%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.860	−0.134%	$628K	$717K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.866	−0.092%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.873	−0.036%	$540K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0107%	1h	12.877	−0.005%	$805K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.924	+0.361%	$930K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.871	−0.050%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.866	−0.089%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0502%	8h	12.889	+0.089%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.1400%	1h	12.874	−0.025%	$345K	$48K	10x	as long as short