Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Pacifica against Binance+0.058%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.058%, 7d avg +0.012%

Together, before fees−0.093%+ Points / potential airdropPacifica: Active · farm board−$9 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: Pacifica is 0.046% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	12.904	0.0100	pay 0.0100% / 8h	3h 09m	$119.6M	$300.2M	75x
Short	Pacifica LINK	12.911	0.0100	get 0.0013% / 1h	9m 30s	$276K	$183K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → +0.012%: $4.56
Slippage, 4 orders: −$16.82
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$30.26
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Pacifica: live order book, 44 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	5.4 bp −$5	8.6 bp −$86	31.8 bp −$3,182	113.5 bp −$56.8K
Sell Pacifica live order book, 44 min ago	4.60 bp	10.7 bp −$11	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 −0.0089% / S +0.0166%	1h	12.902	−0.015%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.910	+0.051%	$491K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.903	−0.006%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.902%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.900	−0.027%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.940	+0.285%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.911	+0.058%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	+0.062%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	+0.043%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.902	−0.008%	$1.2M	$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 LINKshort	+0.0100%	1h	12.911	+0.058%	$276K	$183K	10x
Binance LINKUSDTlong	+0.0100%	8h	12.904	long leg	$119.6M	$300.2M	75x
Bybit LINKUSDT	+0.0100%	8h	12.894	−0.074%	$83.2M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.899	−0.035%	$27.3M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.136%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.908	+0.035%	$127.9M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.907	+0.027%	$33.2M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.915	+0.089%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.906	+0.019%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.907	+0.027%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.908	+0.035%	$338K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.902	−0.011%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	+0.234%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	+0.221%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.936	+0.252%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.910	+0.050%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.900	−0.026%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.914	+0.082%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.904	+0.004%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.885	−0.143%	$632K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.898	−0.042%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.906	+0.021%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.923	+0.151%	$921K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0207%	1h	12.909	+0.039%	$786K	$213K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.917	+0.105%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.911	+0.061%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0303%	1h	12.922	+0.143%	$80.6M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.901	−0.022%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0566%	8h	12.922	+0.143%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0841%	1h	12.910	+0.053%	$343K	$32K	10x	as long as short