Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: Bybit against ApeX Omni+0.061%109s7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as 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−$410.407% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−0.324%−$32 · spread now +0.061%, 7d avg −0.080%

Together, before fees−0.421%−$42 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: Bybit is 0.141% dearer against ApeX Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.080%. The two prices were read 109 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	ApeX Omni LINKUSDT	13.012	0.0100	pay 0.0013% / 1h	53m 45s	$133K	$674K	50x
Short	Bybit LINKUSDT	13.020	0.0100	get 0.0100% / 8h	3h 53m	$84.1M	$72.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → −0.080%: $14.14
Slippage, 4 orders: −$19.7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.56
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 65 min ago; Bybit: live order book, 5 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 ApeX Omni live order book, 65 min ago	3.87 bp	11.2 bp −$11	84.7 bp −$847	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.38 bp	7.9 bp −$8	12.8 bp −$128	37.0 bp −$3,700	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 −0.0089% / S +0.0166%	1h	13.008	−0.028%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.031	+0.144%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.010	−0.018%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.703%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.004	−0.061%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.014	+0.015%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.241%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.034	+0.166%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.017	+0.038%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.013	+0.009%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.041	+0.222%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.021	+0.072%	$121.2M	$299.3M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.020	+0.061%	$84.1M	$72.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.025	+0.100%	$27.5M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.046	+0.261%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.013	+0.008%	$128.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.009	−0.023%	$33.0M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.020	+0.061%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.009	−0.023%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.013	+0.008%	—	$6.7M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.052%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.997	−0.118%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.100%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	13.012	long leg	$133K	$674K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.028	+0.123%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.003	−0.070%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	+0.039%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.004	−0.061%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.991	−0.160%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.003	−0.072%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.008	−0.032%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.038	+0.200%	$945K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0111%	1h	13.008	−0.028%	$782K	$202K	50x	as long as short
dYdX LINK-USD	+0.0208%	1h	13.017	+0.041%	$345K	$30K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0209%	1h	13.008	−0.031%	$343K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.036	+0.184%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.004	−0.061%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0388%	1h	13.029	+0.131%	$81.6M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.009	−0.023%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0522%	8h	13.016	+0.031%	$20.1M	$11.3M	50x	as long as short