Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Arcus−0.177%53s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.531% of the position

Long on Arcus Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.281%+$28 · spread now −0.177%, 7d avg −0.023%

Together, before fees+0.281%+$28 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: ApeX Omni is 0.154% cheaper against Arcus than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 53 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	Arcus LINK-USD	12.981	0.0100	pay 0.0013% / 1h	8m 02s	$181K	$83K	10x
Short	ApeX Omni LINKUSDT	12.958	0.0100	get 0.0013% / 1h	8m 02s	$105K	$680K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Arcus. 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 ArcusbpFee ApeX OmnibpOrdersPrice spread, now −0.177%Rate

Funding earned: $0
Price spread: −0.177% → −0.023%: −$15.4
Slippage, 4 orders: −$38.55
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$68.46
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from Arcus: live order book, 33 min ago; ApeX Omni: live order book, 34 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 Arcus live order book, 33 min ago	9.26 bp	18.0 bp −$18	33.0 bp −$330	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 34 min ago	4.63 bp	12.6 bp −$13	102.0 bp −$1,020	doesn't fit	doesn't fit

LINK on 40 exchanges

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
Orderly PERP_LINK_USDC	−0.0274%	8h	12.956	−0.193%	$84K	$715K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.962	−0.148%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.972	−0.071%	$488K	$2.0M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.962	−0.143%	$115K	—	150x	as long as short
Phoenix LINK	+0.0025%	1h	12.969	−0.094%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.476%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0056%	8h	12.946	−0.270%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.958	−0.180%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	−0.165%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.959	−0.173%	$349K	$273K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.964	−0.130%	$81.5M	$25.3M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.963	−0.141%	$1.2M	$2.6M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.966	−0.112%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.954	−0.208%	$120.6M	$259.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.950	−0.239%	$84.0M	$65.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.954	−0.208%	$27.5M	$72.4M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	12.981	long leg	$181K	$83K	10x
Gate LINK_USDT	+0.0100%	8h	12.960	−0.162%	$133.8M	$17.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.958	−0.177%	$34.5M	$53.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.962	−0.146%	$23.5M	$11.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.954	−0.208%	$54.1M	$25.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.955	−0.200%	—	$23.1M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.961	−0.154%	$328K	$345K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.961	−0.151%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	−0.180%	$589K	$3.2M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.958	−0.177%	$105K	$680K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.966	−0.116%	$83K	$56K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.958	−0.181%	$16K	$17K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.979	−0.019%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.959	−0.169%	$11K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.959	−0.173%	$594K	$727K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.953	−0.218%	$607K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.961	−0.152%	$544K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.970	−0.085%	$988K	$3.0M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0214%	1h	12.963	−0.139%	$6.6M	$7.4M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.984	+0.023%	$5.4M	$15.2M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0275%	1h	12.968	−0.099%	$899K	$370K	50x	as long as short
Phemex LINKUSDT	+0.0367%	8h	12.974	−0.054%	$20.1M	$10.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0412%	1h	12.957	−0.184%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0426%	1h	12.968	−0.097%	$349K	$20K	10x	as long as short