Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Nado against OKX+0.058%49s7-day average +0.007% · you sell dearer than you buy

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−$280.279% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.125%+$12 · spread now +0.058%, 7d avg +0.007%

Together, before fees+0.142%+ Points / potential airdropNado: Active · farm board+$14 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: Nado is 0.052% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 49 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	OKX LINK-USDT-SWAP	12.878	0.0100	pay 0.0100% / 8h	1h 47m	$26.9M	$80.9M	50x
Short	Nado LINK-PERP	12.885	0.0100	get 0.0012% / 1h	47m 45s	$349K	$339K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → +0.007%: $5.16
Slippage, 4 orders: −$10.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$22.75
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Nado: live order book, 60 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, 1 min ago	0.39 bp	6.1 bp −$6	12.7 bp −$127	27.0 bp −$2,705	doesn't fit
Sell Nado live order book, 60 min ago	1.16 bp	6.5 bp −$6	15.6 bp −$156	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 −0.0089% / S +0.0166%	1h	12.886	+0.065%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.897	+0.148%	$511K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.888	+0.077%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0007%	8h	12.880	+0.016%	$94K	$1.1M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.712%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.893	+0.120%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.883	+0.038%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.890	+0.094%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.885	+0.058%	$349K	$339K	10x
Aster LINKUSDT	+0.0100%	8h	12.885	+0.052%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.895	+0.131%	$275K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.879	+0.009%	$118.8M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.875	−0.023%	$83.1M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	12.878	long leg	$26.9M	$80.9M	50x
Arcus LINK-USD	+0.0100%	1h	12.906	+0.217%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.884	+0.047%	$124.0M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.886	+0.062%	$34.5M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.891	+0.101%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.881	+0.023%	$53.8M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.884	+0.047%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.890	+0.096%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.892	+0.110%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	+0.121%	$578K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.897	+0.148%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.890	+0.093%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.885	+0.055%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.899	+0.159%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.885	+0.054%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.876	−0.016%	$631K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.880	+0.015%	$629K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.889	+0.082%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.893	+0.116%	$931K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0138%	1h	12.893	+0.116%	$806K	$259K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0140%	1h	12.894	+0.124%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.891	+0.097%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.893	+0.116%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0323%	1h	12.902	+0.186%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.883	+0.039%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0575%	8h	12.903	+0.194%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0840%	1h	12.880	+0.017%	$343K	$33K	10x	as long as short