Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0092%/8hpaid last 24h −0.008%

Price spread now: Coinbase International against SunX−0.032%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.629% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.032%, 7d avg −0.082%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.050% dearer against SunX than usual: you sell high and buy low (spread −0.032% now, against its 7-day average of −0.082%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 43 hours. At the pace of the last 7 days (−0.082% in total) that is about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.020	0.0100	pay 0.0100% / 8h	4h 06m	$33K	$1.5M	30x
Short	Coinbase International LINK-PERP-INTX	13.016	0.0008	get 0.0001% / 1h	6m 47s	$990K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$19.32
Price spread: −0.032% → −0.082%: $4.97
Slippage, 4 orders: −$44.91
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$77.26
Costs to cover: 0.629%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Coinbase International: live order book, 1 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 SunX live order book, 2 min ago	13.67 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.92 bp	12.6 bp −$13	15.8 bp −$158	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 −0.0091% / S +0.0165%	1h	13.015	−0.042%	$1.7M	—	200x	as long as short
Variational Omni LINK	−0.0077%	8h	13.000	−0.152%	$3.2M	$1.2M	—	as long as short
Phoenix LINK	−0.0019%	1h	13.003	−0.134%	$9K	$78K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.006	−0.108%	$344K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.024	+0.028%	$473K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.016	−0.031%	$691K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	13.015	−0.038%	$118K	—	150x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0008%	1h	13.016	−0.032%	$990K	$2.7M	50x
Bybit LINKUSDT	+0.0012%	8h	13.005	−0.117%	$83.5M	$65.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0018%	1h	13.015	−0.043%	$6.1M	$6.3M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.763%	$4K	$48K	12x	as long as short
OKX LINK-USDT-SWAP	+0.0035%	8h	13.003	−0.132%	$27.0M	$81.3M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0066%	8h	13.015	−0.040%	$150K	$1.6M	20x	as long as short
HTX LINK-USDT	+0.0092%	8h	12.992	−0.216%	$631K	$887K	75x	as long as short
Lighter LINK	+0.0096%	1h	13.013	−0.052%	$2.0M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.005	−0.116%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.005	−0.117%	$391K	$291K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.015	−0.040%	$76.0M	$21.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.012	−0.059%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.003	−0.132%	$272K	$162K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.010	−0.078%	$119.2M	$290.0M	75x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.022	+0.014%	$196K	$153K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.008	−0.094%	$130.2M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.009	−0.086%	$34.9M	$56.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.011	−0.071%	$21.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	−0.124%	$54.0M	$29.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.009	−0.086%	—	$21.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.020	−0.002%	$354K	$361K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.011	−0.070%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.003	−0.131%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.014	−0.048%	$132K	$650K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.012	−0.063%	$78K	$58K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	−0.089%	$24K	$13K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.020	long leg	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	13.008	−0.094%	$5K	$39K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	13.008	−0.097%	$635K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.014	−0.047%	$547K	$340	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	−0.078%	$5.2M	$13.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0369%	1h	13.009	−0.083%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0472%	8h	13.029	+0.068%	$20.2M	$11.3M	50x	as long as short