Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0234%/8h= +25.6% APRpaid last 24h +0.025%

Price spread now: Polymarket Perps against Orderly+0.138%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 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 +$7 a day on $10k at the current rate, and Polymarket Perps is 0.138% dearer against Orderly than usual: you sell high and buy low: +$14 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 −0.339%, 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	Orderly PERP_LINK_USDC	13.008	−0.0134	get 0.0134% / 8h	6h 59m	$91K	$909K	20x
Short	Polymarket Perps LINK-USD	13.026	0.0100	get 0.0013% / 1h	59m 07s	$83K	$70K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Orderly. 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 OrderlybpFee Polymarket PerpsbpOrdersPrice spread, now +0.138%Rate

Funding earned: $49.16
Price spread: +0.138% → 0.000%: $13.84
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $49
Costs to cover: 0.140%
Break-even: 0.0 days

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Orderly and Polymarket Perps: 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 39 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_USDClong	−0.0134%	8h	13.008	long leg	$91K	$909K	20x
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.056	+0.371%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.030	+0.171%	$500K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.046	+0.294%	$107K	—	150x	as long as short
SoDEX LINK-USD	+0.0016%	1h	13.010	+0.015%	$12K	$61K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.674%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0044%	1h	13.018	+0.074%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.051	+0.333%	$3K	$84K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.012	+0.034%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.018	+0.080%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.018	+0.077%	$350K	$312K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.028	+0.154%	$81.3M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.016	+0.058%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.027	+0.148%	$277K	$167K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.011	+0.023%	$120.5M	$287.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.012	+0.031%	$84.3M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.014	+0.046%	$27.3M	$77.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.039	+0.238%	$182K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.015	+0.054%	$134.7M	$17.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	+0.038%	$35.9M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.017	+0.069%	$23.2M	$12.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.013	+0.038%	$54.5M	$28.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.019	+0.085%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.022	+0.108%	$338K	$369K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.038	+0.231%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.049	+0.319%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.050	+0.321%	$593K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.058	+0.384%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USDshort	+0.0100%	1h	13.026	+0.138%	$83K	$70K	10x
SunX LINK-USDT	+0.0100%	8h	13.024	+0.123%	$34K	$1.3M	30x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.008	+0.004%	$624K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.006	−0.012%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.013	+0.041%	$546K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0180%	1h	13.018	+0.078%	$874K	$333K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0208%	1h	13.016	+0.062%	$941K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.013	+0.038%	$5.3M	$15.9M	75x	as long as short
Phemex LINKUSDT	+0.0381%	8h	13.029	+0.161%	$20.1M	$11.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0405%	1h	13.012	+0.028%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0830%	1h	13.024	+0.121%	$350K	$48K	10x	as long as short