Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.043%

Price spread now: BloFin against SoDEX−0.023%56s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.023% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 16 hours of funding at the current rate (+$4 a day). The two prices were read 56 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	SoDEX LINK-USD	12.897	0.0100	pay 0.0013% / 1h	40m 20s	$11K	$63K	10x
Short	BloFin LINK-USDT	12.894	0.0220	get 0.0220% / 8h	4h 40m	$5.2M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now −0.023%Rate

Funding earned: $25.2
Price spread: −0.023% → 0.000%: −$2.33
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $2.87
Costs to cover: 0.200%
Break-even: 6.2 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 4 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	0.39 bp	9.0 bp −$9	14.5 bp −$145	33.5 bp −$3,352	doesn't fit

SoDEX: 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 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 −0.0090% / S +0.0167%	1h	12.902	+0.039%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.910	+0.102%	$486K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.900	+0.023%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.854%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0059%	8h	12.898	+0.008%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.893	−0.033%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.916	+0.147%	$941K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.894	−0.020%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	+0.118%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.912	+0.120%	$390K	$311K	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	12.912	+0.115%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.914	+0.133%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.906	+0.068%	$119.3M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.899	+0.016%	$83.2M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.900	+0.023%	$27.2M	$81.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.913	+0.124%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.901	+0.031%	$127.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.912	+0.116%	$32.2M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.917	+0.155%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.899	+0.016%	$53.6M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.904	+0.054%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.907	+0.078%	$337K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.888	−0.069%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	+0.023%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.886	−0.084%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.047%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.917	+0.155%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.899	+0.017%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.925	+0.220%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USDlong	+0.0100%	1h	12.897	long leg	$11K	$63K	10x
HTX LINK-USDT	+0.0100%	8h	12.892	−0.038%	$631K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.898	+0.005%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.903	+0.045%	$541K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0122%	1h	12.906	+0.072%	$771K	$193K	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.894	−0.023%	$5.2M	$15.6M	75x
Hyperliquid LINK	+0.0357%	1h	12.926	+0.225%	$80.9M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.906	+0.069%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0396%	1h	12.896	−0.005%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0574%	8h	12.907	+0.078%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0681%	1h	12.915	+0.136%	$342K	$30K	10x	as long as short