Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.006%

Price spread now: Orderly against ApeX Omni−0.189%7-day average −0.016% · you buy dearer than you sell

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)+0.234%+$23 · spread now −0.189%, 7d avg −0.016%

Together, before fees+0.222%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.173% cheaper against ApeX Omni than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LINKUSDT	13.220	0.0100	pay 0.0013% / 1h	35m 19s	$154K	$667K	50x
Short	Orderly PERP_LINK_USDC	13.195	0.0047	get 0.0047% / 8h	7h 35m	$133K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.189%Rate

Funding earned: −$11.1
Price spread: −0.189% → −0.016%: −$17.27
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$44.36
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 38 min ago; Orderly: no order-book sample. 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 ApeX Omni live order book, 38 min ago	4.96 bp	13.1 bp −$13	58.1 bp −$581	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0091% / S +0.0167%	1h	13.194	−0.199%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.247	+0.203%	$476K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.202	−0.138%	$783K	$209K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.195	−0.185%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.203%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.229	+0.069%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDCshort	+0.0047%	8h	13.195	−0.189%	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.204	−0.121%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.203	−0.129%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.191	−0.223%	$404K	$308K	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	13.208	−0.091%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.206	−0.103%	$277K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.195	−0.189%	$122.7M	$302.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.192	−0.212%	$85.1M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.195	−0.189%	$27.9M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.219	−0.008%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.194	−0.197%	$130.6M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.191	−0.219%	$36.8M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.197	−0.174%	$22.9M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.194	−0.197%	$54.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.192	−0.212%	—	$21.1M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.213	−0.050%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.121%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.182	−0.287%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	13.220	long leg	$154K	$667K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.196	−0.182%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.197	−0.173%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.212	−0.063%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.196	−0.182%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.210	−0.079%	$650K	$853K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.193	−0.202%	$670K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.199	−0.159%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.224	+0.030%	$1.0M	$2.7M	50x	as long as short
dYdX LINK-USD	+0.0193%	1h	13.205	−0.110%	$350K	$48K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.227	+0.053%	$370K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.217	−0.023%	$5.3M	$16.5M	75x	as long as short
Phemex LINKUSDT	+0.0342%	8h	13.234	+0.106%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.203	−0.130%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.188	−0.245%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0579%	1h	13.214	−0.045%	$81.5M	$24.8M	10x	as long as short