Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Pacifica+0.332%51s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

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

costs, in and out, $10k−$510.515% of the position

Long on Pacifica Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.467%+$47 · spread now +0.332%, 7d avg +0.046%

Together, before fees+0.559%+ Points / potential airdropPacifica: Active · farm board+$56 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: ApeX Omni is 0.287% dearer against Pacifica than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 51 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	Pacifica LINK	12.995	0.0100	pay 0.0013% / 1h	20m 03s	$275K	$170K	10x
Short	ApeX Omni LINKUSDT	13.038	0.0100	get 0.0013% / 1h	20m 03s	$134K	$675K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Pacifica. 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 PacificabpFee ApeX OmnibpOrdersPrice spread, now +0.332%Rate

Funding earned: $0
Price spread: +0.332% → +0.046%: $28.68
Slippage, 4 orders: −$33.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$22.78
Costs to cover: 0.515%
Break-even: never at this rate

Slippage from Pacifica: live order book, 48 min ago; ApeX Omni: live order book, 48 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 Pacifica live order book, 48 min ago	5.31 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 48 min ago	6.07 bp	14.1 bp −$14	110.3 bp −$1,103	doesn't fit	doesn't fit

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
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	12.990	−0.037%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.012	+0.130%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.992	−0.025%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.577%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	+0.225%	$3K	$86K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0050%	1h	12.993	−0.011%	$772K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.988	−0.052%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.049	+0.417%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.991	−0.029%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.993	−0.017%	$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	12.992	−0.018%	$395K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.995	+0.002%	$1.3M	$3.0M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	12.995	long leg	$275K	$170K	10x
Binance LINKUSDT	+0.0100%	8h	13.007	+0.093%	$119.5M	$302.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.003	+0.063%	$84.0M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.005	+0.078%	$27.4M	$84.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.011	+0.125%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.989	−0.045%	$128.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	+0.078%	$33.1M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.008	+0.101%	$22.5M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	+0.071%	$54.1M	$30.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.996	+0.009%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	+0.079%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.033	+0.297%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.032	+0.286%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	13.038	+0.332%	$134K	$675K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.996	+0.009%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.990	−0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.002	+0.057%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.990	−0.037%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.061%	$641K	$858K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.000	+0.038%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.991	−0.029%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0110%	1h	13.005	+0.078%	$338K	$386K	15x	as long as short
dYdX LINK-USD	+0.0298%	1h	12.993	−0.015%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.986	−0.065%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0451%	1h	13.007	+0.094%	$80.4M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.996	+0.011%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0622%	8h	13.006	+0.086%	$20.1M	$11.5M	50x	as long as short