Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0195%/8hpaid last 24h +0.039%

Price spread now: BloFin against Coinbase International+0.023%7-day average −0.010% · you sell dearer than you buy

to open and close $10k−$39fees + slippage, both legs, in and out

costs, in % of the position0.386%what the two incomes have to cover

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$25 on $10k

Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.023%, 7d avg −0.010%

Together, before fees+0.218%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.033% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	12.917	0.0008	pay 0.0001% / 1h	46m 53s	$999K	$2.6M	50x
Short	BloFin LINK-USDT	12.920	0.0203	get 0.0203% / 8h	4h 46m	$5.2M	$13.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.023%Rate

Funding earned: $40.99
Price spread: +0.023% → −0.010%: $3.31
Slippage, 4 orders: −$16.56
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.74
Costs to cover: 0.386%
Break-even: 6.0 days

Slippage from Coinbase International: live order book, 2 min ago; BloFin: live order book, 6 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, 2 min ago	1.94 bp	13.6 bp −$14	16.5 bp −$165	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.77 bp	7.5 bp −$7	10.5 bp −$105	22.3 bp −$2,227	55.8 bp −$27.9K

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
Variational Omni LINK	−0.0115%	8h	12.916	−0.005%	$3.2M	$1.2M	—	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0165%	1h	12.926	+0.072%	$1.7M	—	200x	as long as short
Bybit LINKUSDT	−0.0087%	8h	12.923	+0.046%	$82.3M	$64.3M	75x	as long as short
Phoenix LINK	−0.0019%	1h	12.926	+0.067%	$9K	$78K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	12.925	+0.065%	$342K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.928	+0.084%	$468K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.928	+0.084%	$687K	$106K	50x	as long as short
OKX LINK-USDT-SWAP	+0.0003%	8h	12.924	+0.054%	$27.0M	$80.8M	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.926	+0.071%	$118K	—	150x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0008%	1h	12.917	long leg	$999K	$2.6M	50x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_LINKUSD	+0.0018%	1h	12.928	+0.086%	$6.0M	$6.3M	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.002%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.928	+0.085%	$146K	$1.6M	20x	as long as short
MEXC LINK_USDT	+0.0082%	8h	12.927	+0.077%	$34.5M	$54.8M	300x	as long as short
Binance LINKUSDT	+0.0083%	8h	12.927	+0.077%	$117.8M	$288.1M	75x	as long as short
HTX LINK-USDT	+0.0087%	8h	12.906	−0.087%	$626K	$889K	75x	as long as short
Lighter LINK	+0.0096%	1h	12.926	+0.066%	$2.0M	$2.2M	10x	as long as short
Paradex LINK-USD-PERP	+0.0097%	8h	12.926	+0.069%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.921	+0.035%	$390K	$291K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.934	+0.132%	$75.5M	$22.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.929	+0.093%	$1.4M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.924	+0.056%	$270K	$165K	10x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.938	+0.163%	$181K	$139K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.926	+0.070%	$129.4M	$11.9M	75x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.927	+0.077%	$21.4M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.923	+0.046%	$54.0M	$29.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.926	+0.070%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.915	−0.016%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.905	−0.090%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.916	−0.008%	$130K	$651K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.925	+0.062%	$77K	$56K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.921	+0.028%	$24K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.937	+0.156%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.922	+0.039%	$4K	$39K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.922	+0.039%	$631K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.927	+0.074%	$544K	$340	3x	as long as short
Backpack LINK_USDC_PERP	+0.0113%	1h	12.935	+0.139%	$352K	$371K	15x	as long as short
BloFin LINK-USDTshort	+0.0203%	8h	12.920	+0.023%	$5.2M	$13.8M	75x
Reya LINKRUSDPERP	+0.0367%	1h	12.918	+0.011%	$4K	$200	20x	as long as short
Phemex LINKUSDT	+0.0459%	8h	12.941	+0.186%	$20.1M	$11.2M	50x	as long as short