Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.030%

Price spread now: Pacifica against BloFin+0.031%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

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

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.268%−$27 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.031%, 7d avg +0.006%

Together, before fees−0.329%+ Points / potential airdropPacifica: Active · farm board−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.025% dearer against BloFin than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of +0.006%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	13.149	0.0220	pay 0.0220% / 8h	2h 22m	$5.2M	$16.9M	75x
Short	Pacifica LINK	13.153	0.0100	get 0.0013% / 1h	22m 06s	$276K	$150K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.031%Rate

Funding earned: −$25.2
Price spread: +0.031% → +0.006%: $2.47
Slippage, 4 orders: −$18.2
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$60.93
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Pacifica: 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, 7 min ago	1.90 bp	8.5 bp −$9	10.6 bp −$106	19.3 bp −$1,926	doesn't fit
Sell Pacifica live order book, 1 min ago	3.04 bp	10.3 bp −$10	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 −0.0092% / S +0.0166%	1h	13.159	+0.080%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.163	+0.103%	$474K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.161	+0.089%	$713K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.159	+0.079%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.152	+0.019%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0019%	1h	13.151	+0.017%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.696%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.151	+0.015%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0076%	8h	13.148	−0.007%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.159	+0.078%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.148	−0.006%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.158	+0.068%	$400K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.169	+0.150%	$77.9M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.159	+0.076%	$1.6M	$2.7M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	13.153	+0.031%	$276K	$150K	10x
Binance LINKUSDT	+0.0100%	8h	13.154	+0.034%	$121.6M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.154	+0.038%	$84.7M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.152	+0.023%	$27.8M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.168	+0.144%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.156	+0.053%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.154	+0.038%	$36.7M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.162	+0.099%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.162	+0.099%	$54.5M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.154	+0.038%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.144	−0.035%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.146	−0.019%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.147	−0.015%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.162	+0.099%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.153	+0.034%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.170	+0.160%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.156	+0.053%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.135	−0.110%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.154	+0.037%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.159	+0.077%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.153	+0.030%	$989K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0118%	1h	13.165	+0.122%	$365K	$372K	15x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.149	long leg	$5.2M	$16.9M	75x
Reya LINKRUSDPERP	+0.0373%	1h	13.158	+0.069%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0469%	8h	13.169	+0.152%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.166	+0.130%	$7.0M	$7.8M	50x	as long as short