Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.038%

Price spread now: Coinbase International against BloFin−0.202%58s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as 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−$430.425% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.202%, 7d avg +0.023%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.224% cheaper against BloFin than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.023%). Swap the legs. The two prices were read 58 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	BloFin LINK-USDT	12.892	0.0220	pay 0.0220% / 8h	2h 33m	$5.2M	$15.8M	75x
Short	Coinbase International LINK-PERP-INTX	12.866	0.0128	get 0.0016% / 1h	33m 49s	$915K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.202%Rate

Funding earned: −$19.32
Price spread: −0.202% → +0.023%: −$22.43
Slippage, 4 orders: −$20.53
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$84.28
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Coinbase International: 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 BloFin live order book, 5 min ago	2.73 bp	8.7 bp −$9	11.8 bp −$118	19.6 bp −$1,956	doesn't fit
Sell Coinbase International live order book, 5 min ago	3.50 bp	13.8 bp −$14	17.7 bp −$177	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	12.846	−0.357%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.873	−0.145%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.848	−0.338%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.816%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	12.842	−0.388%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.887	−0.035%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.846	−0.357%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.855	−0.289%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.854	−0.295%	$343K	$342K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.841	−0.395%	$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 LINK	+0.0100%	1h	12.857	−0.269%	$274K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.837	−0.427%	$118.4M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.833	−0.458%	$82.8M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.835	−0.442%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.872	−0.155%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.840	−0.403%	$123.8M	$14.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.839	−0.411%	$32.9M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.847	−0.349%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.833	−0.458%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.838	−0.419%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.851	−0.318%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	−0.151%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.869	−0.175%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.880	−0.093%	$589K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.877	−0.116%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.857	−0.271%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.844	−0.373%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.866	−0.204%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.847	−0.349%	$10K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.846	−0.356%	$630K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.834	−0.453%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.849	−0.333%	$539K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0124%	1h	12.851	−0.315%	$788K	$233K	50x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0128%	1h	12.866	−0.202%	$915K	$2.8M	50x
BloFin LINK-USDTlong	+0.0220%	8h	12.892	long leg	$5.2M	$15.8M	75x
Hyperliquid LINK	+0.0226%	1h	12.850	−0.326%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.848	−0.343%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.847	−0.348%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0591%	8h	12.861	−0.240%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0793%	1h	12.860	−0.252%	$343K	$33K	10x	as long as short