Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: ApeX Omni against Binance−0.023%59s7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

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

costs, in and out, $10k−$380.383% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.269%+$27 · spread now −0.023%, 7d avg +0.055%

Together, before fees+0.328%+$33 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 0.078% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.055%. The two prices were read 59 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	Binance LINKUSDT	12.968	0.0100	pay 0.0100% / 8h	4h 24m	$119.9M	$297.4M	75x
Short	ApeX Omni LINKUSDT	12.965	0.0100	get 0.0013% / 1h	24m 37s	$133K	$672K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.055%: −$7.85
Slippage, 4 orders: −$18.32
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$46.17
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Binance: live order book, 4 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 Binance live order book, 4 min ago	0.39 bp	6.4 bp −$6	12.3 bp −$123	38.2 bp −$3,824	116.1 bp −$58.0K
Sell ApeX Omni live order book, 34 min ago	3.87 bp	15.0 bp −$15	109.4 bp −$1,094	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 −0.0090% / S +0.0167%	1h	12.969	+0.010%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.973	+0.042%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.970	+0.012%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.380%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.969	+0.008%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.967	−0.008%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.971	+0.023%	$944K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.988	+0.155%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.969	+0.006%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.968	+0.004%	$392K	$310K	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	12.967	−0.010%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.968	+0.001%	$274K	$176K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	12.968	long leg	$119.9M	$297.4M	75x
Bybit LINKUSDT	+0.0100%	8h	12.966	−0.015%	$83.6M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.968	0.000%	$27.4M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.093%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.966	−0.015%	$128.3M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.968	0.000%	$33.1M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	−0.023%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.965	−0.023%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.963	−0.039%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.968	0.000%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	−0.107%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.958	−0.079%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	−0.007%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.965	−0.023%	$133K	$672K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.985	+0.131%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.968	+0.003%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.995	+0.211%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.969	+0.008%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.912	−0.429%	$634K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.959	−0.073%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.970	+0.019%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0159%	1h	12.975	+0.053%	$777K	$200K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	−0.015%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0366%	1h	12.984	+0.123%	$81.3M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.970	+0.014%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.972	+0.029%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0437%	1h	12.965	−0.023%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0531%	8h	12.981	+0.100%	$20.0M	$11.4M	50x	as long as short