Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against edgeX−0.247%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.355%+$35 · spread now −0.247%, 7d avg +0.004%

Together, before fees+0.352%+ Points / potential airdropedgeX: Active · Nado: Active · farm board+$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: Nado is 0.251% cheaper against edgeX than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	12.938	0.0100	pay 0.0050% / 4h	1h 54m	$43K	$305K	20x
Short	Nado LINK-PERP	12.906	0.0100	get 0.0012% / 1h	54m 42s	$348K	$337K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.247%Rate

Funding earned: $0
Price spread: −0.247% → +0.004%: −$25.12
Slippage, 4 orders: −$11.64
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$52.76
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from edgeX: live order book, 53 min ago; Nado: live order book, 53 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 edgeX live order book, 53 min ago	2.32 bp	6.8 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell Nado live order book, 53 min ago	1.16 bp	6.5 bp −$6	15.6 bp −$156	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	12.902	−0.282%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.914	−0.190%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.904	−0.263%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0015%	8h	12.898	−0.313%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.162%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.916	−0.170%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.891	−0.367%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.886	−0.408%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.906	−0.247%	$348K	$337K	10x
Aster LINKUSDT	+0.0100%	8h	12.894	−0.344%	$1.2M	$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	12.890	−0.373%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.888	−0.390%	$118.9M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.884	−0.421%	$83.1M	$73.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.887	−0.398%	$27.0M	$81.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.906	−0.251%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.897	−0.321%	$124.1M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.891	−0.367%	$33.0M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.892	−0.359%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.885	−0.413%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.896	−0.328%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.901	−0.288%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	12.938	long leg	$43K	$305K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.911	−0.214%	$586K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.924	−0.112%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.908	−0.236%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.901	−0.288%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.915	−0.181%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.903	−0.274%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.893	−0.350%	$632K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.894	−0.342%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.904	−0.266%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.914	−0.189%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0155%	1h	12.912	−0.205%	$336K	$389K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.905	−0.256%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.905	−0.259%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0223%	1h	12.909	−0.225%	$805K	$254K	50x	as long as short
Hyperliquid LINK	+0.0271%	1h	12.909	−0.228%	$80.5M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.901	−0.289%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0574%	8h	12.919	−0.151%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.1240%	1h	12.889	−0.383%	$343K	$33K	10x	as long as short