Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.007%

Price spread now: edgeX against Coinbase International−0.190%77s7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.376% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 3 days (all we have)+0.148%+$15 · spread now −0.190%, 7d avg −0.040%

Together, before fees+0.221%+ Points / potential airdropedgeX: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.150% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.190% now, against its 7-day average of −0.040%). If the spread goes back, that is −$15 on $10k: about 18 days of funding at the current rate (+$1 a day). The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.049	0.0072	pay 0.0009% / 1h	21m 47s	$957K	$2.7M	50x
Short	edgeX LINKUSDC	13.024	0.0100	get 0.0050% / 4h	2h 21m	$43K	$308K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.190%Rate

Funding earned: $5.88
Price spread: −0.190% → −0.040%: −$14.99
Slippage, 4 orders: −$18.56
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$46.67
Costs to cover: 0.376%
Break-even: 62.6 days

Slippage from Coinbase International: live order book, 2 min ago; edgeX: live order book, 46 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	3.07 bp	13.7 bp −$14	18.7 bp −$187	doesn't fit	doesn't fit
Sell edgeX live order book, 46 min ago	2.65 bp	7.2 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit

LINK on 39 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	13.039	−0.075%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.051	+0.015%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.039	−0.079%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.974%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	−0.192%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.035	−0.107%	$118K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0072%	1h	13.043	−0.043%	$775K	$212K	50x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0072%	1h	13.049	long leg	$957K	$2.7M	50x
Lighter LINK	+0.0096%	1h	13.015	−0.261%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.012	−0.287%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.041	−0.061%	$396K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.026	−0.176%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.018	−0.239%	$276K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.014	−0.270%	$119.5M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.010	−0.299%	$84.0M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.010	−0.299%	$27.4M	$84.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.058	+0.069%	$183K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.028	−0.161%	$128.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.012	−0.284%	$33.0M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.017	−0.245%	$22.5M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.017	−0.245%	$54.2M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.020	−0.222%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.044	−0.036%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	13.024	−0.190%	$43K	$308K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.047	−0.015%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.048	−0.008%	$134K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.050	+0.008%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.038	−0.085%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.054	+0.038%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.034	−0.115%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.025	−0.186%	$642K	$859K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.017	−0.245%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.039	−0.074%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0119%	1h	13.041	−0.061%	$339K	$386K	15x	as long as short
dYdX LINK-USD	+0.0261%	1h	13.016	−0.254%	$345K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.044	−0.039%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0450%	1h	13.032	−0.130%	$80.5M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.039	−0.080%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0580%	8h	13.048	−0.008%	$20.1M	$11.5M	50x	as long as short