Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: OKX against Arcus−0.171%7-day average −0.085% · 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−$53as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.171%, 7d avg −0.085%

Together, before fees+0.107%+$11 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: OKX is 0.087% cheaper against Arcus than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	12.857	0.0100	pay 0.0013% / 1h	21m 57s	$180K	$99K	10x
Short	OKX LINK-USDT-SWAP	12.835	0.0100	get 0.0100% / 8h	21m 57s	$27.0M	$79.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → −0.085%: −$8.65
Slippage, 4 orders: −$29.83
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$52.98
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Arcus: live order book, 16 min ago; OKX: live order book, 2 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, 16 min ago	12.42 bp	15.9 bp −$16	26.6 bp −$266	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.39 bp	6.3 bp −$6	14.5 bp −$145	30.4 bp −$3,039	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 −0.0087% / S +0.0165%	1h	12.837	−0.154%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0082%	8h	12.831	−0.202%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.847	−0.080%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.838	−0.151%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.554%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.857	−0.004%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.835	−0.174%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.844	−0.102%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.843	−0.109%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.843	−0.112%	$80.2M	$28.1M	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	12.838	−0.147%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.847	−0.079%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.836	−0.163%	$118.7M	$299.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.830	−0.210%	$83.0M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.835	−0.171%	$27.0M	$79.7M	50x
Arcus LINK-USDlong	+0.0100%	1h	12.857	long leg	$180K	$99K	10x
Gate LINK_USDT	+0.0100%	8h	12.836	−0.163%	$132.0M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.836	−0.163%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.836	−0.163%	$22.6M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.830	−0.210%	$53.6M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.831	−0.202%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.841	−0.124%	$333K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.170%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.846	−0.083%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	−0.139%	$574K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.853	−0.031%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.843	−0.109%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.833	−0.185%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.856	−0.011%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.836	−0.163%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.835	−0.174%	$627K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.837	−0.157%	$6.4M	$8.5M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.830	−0.213%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.840	−0.129%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.834	−0.179%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.840	−0.132%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0334%	1h	12.845	−0.094%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.833	−0.187%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0552%	8h	12.849	−0.062%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0606%	1h	12.840	−0.131%	$342K	$45K	10x	as long as short