Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Arcus against Bybit+0.085%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.085%, 7d avg +0.092%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	12.897	0.0100	pay 0.0100% / 8h	4h 43m	$83.2M	$72.0M	75x
Short	Arcus LINK-USD	12.908	0.0100	get 0.0013% / 1h	43m 26s	$181K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.092%: −$0.64
Slippage, 4 orders: −$34.95
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$51.09
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; Arcus: live order book, 15 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 Bybit live order book, 6 min ago	0.39 bp	7.9 bp −$8	12.5 bp −$125	38.0 bp −$3,801	doesn't fit
Sell Arcus live order book, 15 min ago	13.93 bp	16.3 bp −$16	26.0 bp −$260	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	12.912	+0.118%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.909	+0.094%	$486K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.891	−0.050%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.854%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0060%	8h	12.912	+0.116%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.911	+0.109%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.904	+0.054%	$940K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.897	+0.002%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.905	+0.059%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.900	+0.023%	$390K	$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	12.912	+0.116%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.915	+0.136%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.899	+0.012%	$119.3M	$297.2M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.897	long leg	$83.2M	$72.0M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.891	−0.047%	$27.2M	$81.3M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	12.908	+0.085%	$181K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	12.909	+0.093%	$127.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.894	−0.023%	$32.1M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.896	−0.008%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.891	−0.047%	$53.6M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.906	+0.070%	—	$22.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.923	+0.202%	$338K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.878	−0.146%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.875	−0.169%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.886	−0.084%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.047%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.904	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.907	+0.076%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.927	+0.230%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.912	+0.116%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.894	−0.024%	$631K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.901	+0.030%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.912	+0.116%	$541K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0168%	1h	12.914	+0.133%	$771K	$190K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.885	−0.093%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0357%	1h	12.905	+0.062%	$80.8M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.886	−0.086%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0396%	1h	12.914	+0.129%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0558%	1h	12.915	+0.136%	$342K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0597%	8h	12.929	+0.248%	$19.9M	$11.4M	50x	as long as short