Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.007%

Price spread now: Extended against Binance−0.008%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.008%, 7d avg −0.053%

Together, before fees−0.039%+ Points / potential airdropExtended: Active · farm board−$4 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: Extended is 0.044% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	13.247	0.0100	pay 0.0100% / 8h	48m 58s	$123.4M	$303.6M	75x
Short	Extended LINK-USD	13.246	0.0104	get 0.0013% / 1h	48m 58s	$670K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0.84
Price spread: −0.008% → −0.053%: $4.44
Slippage, 4 orders: −$9.37
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$19.09
Costs to cover: 0.244%
Break-even: 166.1 days

Slippage from Binance: live order book, 10 min ago; Extended: live order book, 5 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, 10 min ago	0.38 bp	5.5 bp −$5	10.8 bp −$108	31.0 bp −$3,101	112.6 bp −$56.3K
Sell Extended live order book, 5 min ago	1.13 bp	6.3 bp −$6	7.9 bp −$79	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	13.238	−0.071%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.245	−0.017%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.233	−0.103%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.239	−0.062%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.240	−0.053%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.394%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.227	−0.151%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.234	−0.101%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.239	−0.060%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.245	−0.013%	$406K	$311K	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	13.245	−0.014%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.246	−0.008%	$278K	$150K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	13.247	long leg	$123.4M	$303.6M	75x
Bybit LINKUSDT	+0.0100%	8h	13.242	−0.037%	$85.5M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.246	−0.007%	$28.0M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.259	+0.091%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.244	−0.022%	$131.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.249	+0.015%	$36.7M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.251	+0.031%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.246	−0.007%	$55.1M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.244	−0.022%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.238	−0.069%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.245	−0.015%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.244	−0.025%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.251	+0.031%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.242	−0.037%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.226	−0.157%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.252	+0.034%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.234	−0.098%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.230	−0.125%	$651K	$888K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.246	−0.008%	$670K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.236	−0.081%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0113%	1h	13.241	−0.048%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.233	−0.105%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.236	−0.083%	$5.2M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0287%	1h	13.250	+0.023%	$78.4M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0365%	1h	13.245	−0.015%	$366K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.235	−0.087%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0467%	8h	13.250	+0.023%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.240	−0.050%	$7.0M	$8.2M	50x	as long as short