Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: Coinbase International against Binance+0.169%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.169%, 7d avg +0.020%

Together, before fees−0.108%−$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: Coinbase International is 0.149% dearer against Binance than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	13.024	0.0100	pay 0.0100% / 8h	3h 51m	$121.2M	$299.7M	75x
Short	Coinbase International LINK-PERP-INTX	13.046	0.0104	get 0.0013% / 1h	51m 44s	$950K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.169%Rate

Funding earned: $0.84
Price spread: +0.169% → +0.020%: $14.93
Slippage, 4 orders: −$18.2
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$22.43
Costs to cover: 0.382%
Break-even: 193.9 days

Slippage from Binance: live order book, 7 min ago; Coinbase International: 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 Binance live order book, 7 min ago	0.38 bp	6.6 bp −$7	10.8 bp −$108	32.2 bp −$3,216	114.7 bp −$57.3K
Sell Coinbase International live order book, 2 min ago	3.07 bp	14.0 bp −$14	18.1 bp −$181	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 −0.0089% / S +0.0166%	1h	13.046	+0.166%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.052	+0.213%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.047	+0.174%	$186K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.791%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.043	+0.146%	$118K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.981	−0.333%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.027	+0.020%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.024	+0.003%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.052	+0.217%	$394K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.045	+0.160%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.024	−0.001%	$276K	$179K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	13.024	long leg	$121.2M	$299.7M	75x
Bybit LINKUSDT	+0.0100%	8h	13.021	−0.023%	$84.2M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.025	+0.008%	$27.6M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.066	+0.322%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.044	+0.154%	$129.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.038	+0.107%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.050	+0.200%	$22.9M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.027	+0.023%	$54.2M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.032	+0.061%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.144%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.022	−0.013%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.192%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.023	−0.008%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.058	+0.261%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.043	+0.143%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.056	+0.244%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.044	+0.154%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.016	−0.061%	$639K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.035	+0.083%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.047	+0.177%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0104%	1h	13.046	+0.169%	$950K	$2.8M	50x
dYdX LINK-USD	+0.0156%	1h	13.022	−0.018%	$345K	$30K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0210%	1h	13.049	+0.191%	$785K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.043	+0.146%	$5.3M	$15.8M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0222%	1h	13.053	+0.223%	$344K	$390K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.044	+0.156%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.049	+0.192%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0398%	1h	13.044	+0.154%	$81.7M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0521%	8h	13.057	+0.253%	$20.2M	$11.3M	50x	as long as short