Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.041%

Price spread now: Extended against BloFin−0.120%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.120%, 7d avg −0.058%

Together, before fees−0.224%+ Points / potential airdropExtended: Active · farm board−$22 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 Extended is 0.062% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.058%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	13.004	0.0220	pay 0.0220% / 8h	5h 12m	$5.3M	$15.8M	75x
Short	Extended LINK-USD	12.988	0.0104	get 0.0013% / 1h	12m 56s	$647K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$24.36
Price spread: −0.120% → −0.058%: −$6.16
Slippage, 4 orders: −$7.56
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$55.08
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Extended: live order book, 1 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, 6 min ago	0.77 bp	6.8 bp −$7	9.8 bp −$98	27.1 bp −$2,709	doesn't fit
Sell Extended live order book, 1 min ago	1.54 bp	4.8 bp −$5	6.3 bp −$63	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	13.004	−0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.006	+0.014%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.005	+0.005%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.645%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	12.994	−0.077%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.041	+0.285%	$965K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0073%	1h	13.002	−0.015%	$772K	$175K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.999	−0.040%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.026	+0.166%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.012	+0.062%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.006	+0.015%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.999	−0.041%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.017	+0.102%	$275K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.999	−0.038%	$120.2M	$296.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.997	−0.054%	$84.0M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.996	−0.062%	$27.4M	$82.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.030	+0.200%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.993	−0.085%	$128.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.995	−0.069%	$32.4M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.998	−0.046%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.997	−0.054%	$54.1M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.995	−0.069%	—	$22.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.999	−0.038%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.038	+0.261%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.032	+0.212%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.034	+0.231%	$589K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.039	+0.269%	$134K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.017	+0.100%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.996	−0.063%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.031	+0.207%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.998	−0.046%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.976	−0.214%	$640K	$690K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	12.988	−0.120%	$647K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	13.001	−0.026%	$545K	$2K	3x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.004	long leg	$5.3M	$15.8M	75x
Reya LINKRUSDPERP	+0.0387%	1h	13.007	+0.022%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0490%	1h	13.012	+0.061%	$345K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.002	−0.018%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0596%	8h	13.011	+0.054%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0653%	1h	13.017	+0.100%	$81.9M	$27.3M	10x	as long as short