LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0076%/8h= −8.4% APRnext payment −$0.10 per $10,000 · paid last 24h −0.004%

Price spread now: Pacifica against Backpack−0.345%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.389%+$39 · spread now −0.345%, 7d avg −0.028%

Together, before fees+0.291%+ Points / potential airdropPacifica: Active · farm board+$29 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 Pacifica is 0.318% cheaper against Backpack than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.159	0.0176	pay 0.0022% / 1h	17m 56s	$364K	$364K	15x
Short	Pacifica LINK	13.114	0.0100	get 0.0013% / 1h	17m 56s	$275K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Backpack. 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 BackpackbpFee PacificabpOrdersPrice spread, now −0.345%Rate

Funding earned: −$16.04
Price spread: −0.345% → −0.028%: −$31.79
Slippage, 4 orders: −$17.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$82.9
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Backpack: live order book, 56 min ago; Pacifica: live order book, 55 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 Backpack live order book, 56 min ago	0.38 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 55 min ago	3.82 bp	9.8 bp −$10	doesn't fit	doesn't fit	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 −0.0091% / S +0.0167%	1h	13.131	−0.212%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.130	−0.223%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.134	−0.193%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.768%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.168	+0.065%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0066%	8h	13.139	−0.152%	$133K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0070%	1h	13.145	−0.103%	$780K	$211K	50x	as long as short
Lighter LINK	+0.0096%	1h	13.142	−0.130%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.191	+0.241%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.112	−0.357%	$402K	$307K	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	13.137	−0.164%	$1.4M	$3.0M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	13.114	−0.345%	$275K	$154K	10x
Binance LINKUSDT	+0.0100%	8h	13.151	−0.064%	$122.1M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.148	−0.084%	$84.8M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.149	−0.076%	$27.5M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.132	−0.205%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.150	−0.068%	$130.3M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.152	−0.053%	$36.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.153	−0.046%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.148	−0.084%	$54.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.148	−0.084%	—	$20.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	−0.013%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.155	−0.033%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	−0.005%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	−0.008%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.123	−0.274%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.139	−0.155%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	−0.271%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	−0.137%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.107	−0.393%	$645K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.146	−0.097%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.143	−0.121%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.114	−0.342%	$999K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0176%	1h	13.159	long leg	$364K	$364K	15x
BloFin LINK-USDT	+0.0220%	8h	13.134	−0.190%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.159	−0.002%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.117	−0.322%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0422%	1h	13.111	−0.363%	$347K	$48K	10x	as long as short
Hyperliquid LINK	+0.0554%	1h	13.168	+0.068%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0728%	8h	13.161	+0.015%	$20.4M	$11.6M	50x	as long as short