Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.001%

Price spread now: OKX against Coinbase International+0.015%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 3 days (all we have)−0.082%−$8 · spread now +0.015%, 7d avg −0.036%

Together, before fees−0.077%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.051% dearer against Coinbase International than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.001	0.0072	pay 0.0009% / 1h	47m 19s	$956K	$2.7M	50x
Short	OKX LINK-USDT-SWAP	13.003	0.0100	get 0.0100% / 8h	6h 47m	$27.3M	$84.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.015%Rate

Funding earned: $5.88
Price spread: +0.015% → −0.036%: $5.12
Slippage, 4 orders: −$22.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.91
Costs to cover: 0.429%
Break-even: 45.0 days

Slippage from Coinbase International: live order book, 2 min ago; OKX: live order book, 2 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	3.46 bp	11.7 bp −$12	16.4 bp −$164	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.38 bp	10.7 bp −$11	15.1 bp −$151	32.0 bp −$3,203	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	13.012	+0.082%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.008	+0.058%	$461K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.012	+0.082%	$150K	—	150x	as long as short
dYdX LINK-USD	+0.0027%	1h	13.010	+0.072%	$345K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.623%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.022	+0.164%	$3K	$86K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0065%	1h	13.007	+0.048%	$772K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	13.001	0.000%	$120K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0072%	1h	13.001	long leg	$956K	$2.7M	50x
Lighter LINK	+0.0096%	1h	13.004	+0.023%	$1.9M	$2.7M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0099%	8h	13.065	+0.494%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.002	+0.012%	$392K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.014	+0.102%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	+0.068%	$276K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.003	+0.015%	$120.2M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.003	+0.015%	$83.8M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	13.003	+0.015%	$27.3M	$84.0M	50x
Arcus LINK-USD	+0.0100%	1h	13.029	+0.215%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.010	+0.069%	$128.8M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.002	+0.008%	$35.1M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.016	+0.115%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.998	−0.023%	$53.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.014	+0.100%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.021	+0.154%	$342K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.991	−0.073%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.017	+0.123%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.013	+0.093%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.024	+0.177%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.015	+0.108%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.001	+0.001%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.027	+0.197%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.002	+0.008%	$15K	$42K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.998	−0.020%	$641K	$871K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.994	−0.054%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	−0.006%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.004	+0.023%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	13.009	+0.058%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0471%	1h	13.026	+0.192%	$80.0M	$29.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.005	+0.031%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0567%	8h	13.019	+0.138%	$20.1M	$11.5M	50x	as long as short