Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Pacifica−0.071%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Pacifica Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.071%, 7d avg −0.033%

Together, before fees+0.071%+ Points / potential airdropPacifica: Active · farm board+$7 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: Bitget is 0.038% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.195	0.0100	pay 0.0013% / 1h	13m 19s	$276K	$154K	10x
Short	Bitget LINKUSDT	13.186	0.0100	get 0.0100% / 8h	7h 13m	$54.7M	$30.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.033%: −$3.76
Slippage, 4 orders: −$19.13
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.89
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Pacifica: live order book, 60 min ago; Bitget: live order book, 6 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, 60 min ago	3.82 bp	11.5 bp −$12	19.9 bp −$199	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	0.38 bp	8.1 bp −$8	9.8 bp −$98	21.0 bp −$2,101	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	13.188	−0.056%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.199	+0.029%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.190	−0.038%	$135K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.028%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.142	−0.408%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0061%	1h	13.196	+0.008%	$784K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.189	−0.048%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.197	+0.010%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.226	+0.230%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.184	−0.082%	$404K	$309K	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	13.201	+0.044%	$1.4M	$3.0M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.195	long leg	$276K	$154K	10x
Binance LINKUSDT	+0.0100%	8h	13.189	−0.048%	$122.4M	$299.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.186	−0.071%	$85.0M	$70.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.189	−0.048%	$27.6M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.206	+0.081%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.192	−0.026%	$130.6M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.187	−0.063%	$36.9M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.191	−0.033%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.186	−0.071%	$54.7M	$30.2M	75x
BingX LINK-USDT	+0.0100%	8h	13.187	−0.063%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.310%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.176	−0.150%	$44K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.179	−0.121%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	−0.117%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.189	−0.048%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.189	−0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.203	+0.059%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.188	−0.056%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.190	−0.038%	$650K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.186	−0.072%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.193	−0.017%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.193	−0.018%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0181%	1h	13.221	+0.194%	$366K	$363K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.184	−0.086%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.192	−0.028%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.182	−0.104%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0437%	1h	13.193	−0.015%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0561%	1h	13.203	+0.058%	$81.5M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0577%	8h	13.216	+0.156%	$20.4M	$11.5M	50x	as long as short