Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: Aevo against Coinbase International−0.231%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$200as in the Price arb table

costs, in and out, $10k−$1771.774% of the position

Long on Coinbase International Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)+0.281%+$28 · spread now −0.231%, 7d avg −0.009%

Together, before fees+0.348%+$35 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: Aevo is 0.222% cheaper against Coinbase International than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.038	0.0104	pay 0.0013% / 1h	54m 00s	$945K	$2.8M	50x
Short	Aevo LINK-PERP	13.008	0.0104	get 0.0013% / 1h	54m 00s	$545K	$2K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Coinbase International. 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 Coinbase InternationalbpFee AevobpOrdersPrice spread, now −0.231%Rate

Funding earned: $0
Price spread: −0.231% → −0.009%: −$22.18
Slippage, 4 orders: −$151.37
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$199.55
Costs to cover: 1.774%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Aevo: live order book, 65 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 Coinbase International live order book, 5 min ago	2.31 bp	10.5 bp −$11	15.4 bp −$154	doesn't fit	doesn't fit
Sell Aevo live order book, 65 min ago	33.99 bp	48.1 bp −$48	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	13.008	−0.227%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.031	−0.055%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.010	−0.217%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.893%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.004	−0.261%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.001	−0.281%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.440%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.034	−0.034%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.017	−0.161%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.009	−0.226%	$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 LINK	+0.0100%	1h	13.041	+0.022%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.014	−0.184%	$121.1M	$299.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.009	−0.222%	$84.1M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.008	−0.230%	$27.5M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.046	+0.061%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.003	−0.268%	$129.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.009	−0.222%	$33.0M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.020	−0.138%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	−0.261%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.013	−0.192%	—	$6.7M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.251%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.997	−0.317%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.299%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.012	−0.199%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.028	−0.077%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.003	−0.269%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	−0.160%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.004	−0.261%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.991	−0.359%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.003	−0.271%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERPshort	+0.0104%	1h	13.008	−0.231%	$545K	$2K	3x
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.038	long leg	$945K	$2.8M	50x
Deribit LINK_USDC-PERPETUAL	+0.0111%	1h	13.008	−0.227%	$782K	$202K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0209%	1h	13.008	−0.230%	$343K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.036	−0.015%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.004	−0.260%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0249%	1h	13.034	−0.033%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.009	−0.223%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0396%	1h	13.018	−0.152%	$81.5M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0522%	8h	13.016	−0.169%	$20.1M	$11.3M	50x	as long as short