Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.005%

Price spread now: Extended against OKX−0.046%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.046%, 7d avg −0.037%

Together, before fees+0.040%+ Points / potential airdropExtended: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	13.119	0.0100	pay 0.0100% / 8h	23m 15s	$27.6M	$85.4M	50x
Short	Extended LINK-USD	13.113	0.0104	get 0.0013% / 1h	23m 15s	$667K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0.84
Price spread: −0.046% → −0.037%: −$0.89
Slippage, 4 orders: −$14.09
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$29.13
Costs to cover: 0.291%
Break-even: 249.8 days

Slippage from OKX: live order book, 6 min ago; Extended: live order book, 5 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 OKX live order book, 6 min ago	0.38 bp	8.3 bp −$8	16.3 bp −$163	28.7 bp −$2,867	doesn't fit
Sell Extended live order book, 5 min ago	2.28 bp	5.5 bp −$6	7.0 bp −$70	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 −0.0091% / S +0.0167%	1h	13.112	−0.050%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.113	−0.045%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.121	+0.014%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.113	−0.044%	$132K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.129	+0.077%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.481%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.116	−0.023%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.117	−0.013%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.104	−0.113%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.101	−0.141%	$400K	$312K	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	13.118	−0.004%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.106	−0.096%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.118	−0.008%	$121.9M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.115	−0.030%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	13.119	long leg	$27.6M	$85.4M	50x
Arcus LINK-USD	+0.0100%	1h	13.120	+0.008%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.108	−0.084%	$130.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.109	−0.076%	$36.3M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.111	−0.061%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.115	−0.030%	$54.5M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.112	−0.053%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.138	+0.145%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.118	−0.011%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.144	+0.189%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.118	−0.008%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.112	−0.053%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.114	−0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.120	+0.008%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.118	−0.008%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.094	−0.194%	$644K	$884K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.113	−0.046%	$667K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.119	+0.001%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.123	+0.030%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.111	−0.061%	$5.2M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0226%	1h	13.111	−0.061%	$362K	$377K	15x	as long as short
Hyperliquid LINK	+0.0282%	1h	13.122	+0.023%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.106	−0.101%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.128	+0.066%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0487%	8h	13.121	+0.015%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0612%	1h	13.114	−0.042%	$347K	$48K	10x	as long as short