Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: BloFin against Arcus+0.015%7-day average −0.061% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 3 days (all we have)−0.015%−$2 · spread now +0.015%, 7d avg −0.061%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.076% dearer against Arcus than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	13.191	0.0100	pay 0.0013% / 1h	20m 29s	$185K	$172K	10x
Short	BloFin LINK-USDT	13.193	0.0220	get 0.0220% / 8h	1h 20m	$5.3M	$17.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.015%Rate

Funding earned: $25.2
Price spread: +0.015% → −0.061%: $7.58
Slippage, 4 orders: −$28.84
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$12.56
Costs to cover: 0.453%
Break-even: 10.5 days

Slippage from Arcus: live order book, 63 min ago; BloFin: live order book, 3 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, 63 min ago	11.01 bp	16.0 bp −$16	32.5 bp −$325	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.76 bp	8.6 bp −$9	13.2 bp −$132	26.8 bp −$2,684	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 −0.0090% / S +0.0167%	1h	13.168	−0.172%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.173	−0.136%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.205	+0.104%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.199	+0.062%	$721K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.168	−0.171%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.997%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.193	+0.015%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.154	−0.280%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.177	−0.106%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.173	−0.139%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.175	−0.121%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.183	−0.060%	$77.8M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.174	−0.128%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.175	−0.122%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.166	−0.191%	$122.2M	$303.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.161	−0.227%	$84.9M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.158	−0.250%	$27.7M	$86.0M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.191	long leg	$185K	$172K	10x
Gate LINK_USDT	+0.0100%	8h	13.169	−0.167%	$130.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.169	−0.167%	$36.3M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.170	−0.159%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.168	−0.174%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.172	−0.144%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.547%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.515%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.430%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.440%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.172	−0.144%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.192	+0.006%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.209	+0.139%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.195	+0.030%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.169	−0.163%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.170	−0.156%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.198	+0.053%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.200	+0.068%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0214%	1h	13.189	−0.015%	$365K	$375K	15x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	13.193	+0.015%	$5.3M	$17.0M	75x
Reya LINKRUSDPERP	+0.0376%	1h	13.167	−0.179%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0466%	8h	13.210	+0.144%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.201	+0.079%	$7.0M	$8.1M	50x	as long as short