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 +0.013%

Price spread now: Pacifica against Bybit+0.111%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.111%, 7d avg +0.037%

Together, before fees−0.058%+ Points / potential airdropPacifica: Active · farm board−$6 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 0.074% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	12.994	0.0100	pay 0.0100% / 8h	3h 57m	$83.9M	$72.2M	75x
Short	Pacifica LINK	13.008	0.0100	get 0.0013% / 1h	57m 06s	$276K	$179K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → +0.037%: $7.41
Slippage, 4 orders: −$20.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$32.57
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Pacifica: live order book, 61 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, 2 min ago	0.38 bp	6.7 bp −$7	12.3 bp −$123	35.3 bp −$3,534	doesn't fit
Sell Pacifica live order book, 61 min ago	3.88 bp	12.8 bp −$13	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	12.998	+0.032%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.006	+0.091%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.999	+0.038%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.571%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.999	+0.038%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.001	+0.052%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.103%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.006	+0.091%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.999	+0.042%	$392K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.002	+0.059%	$1.3M	$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	13.008	+0.111%	$276K	$179K	10x
Binance LINKUSDT	+0.0100%	8h	13.002	+0.065%	$120.5M	$298.6M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.994	long leg	$83.9M	$72.2M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.997	+0.023%	$27.5M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.017	+0.177%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.000	+0.046%	$128.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.002	+0.062%	$32.9M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.004	+0.077%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.998	+0.031%	$54.0M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.000	+0.046%	—	$22.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.990	−0.029%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.989	−0.041%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.977	−0.132%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.995	+0.008%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.006	+0.092%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.996	+0.019%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.013	+0.143%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	+0.046%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.979	−0.112%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.993	−0.007%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.001	+0.050%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.012	+0.139%	$942K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0197%	1h	13.008	+0.108%	$341K	$386K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.999	+0.038%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0227%	1h	13.005	+0.082%	$782K	$202K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.004	+0.079%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	12.997	+0.023%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0405%	1h	13.015	+0.163%	$81.5M	$27.4M	10x	as long as short
dYdX LINK-USD	+0.0486%	1h	13.003	+0.067%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0517%	8h	13.014	+0.154%	$20.1M	$11.4M	50x	as long as short