Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.038%

Price spread now: BloFin against Extended+0.080%54s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as 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−$240.239% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.080%, 7d avg +0.051%

Together, before fees+0.242%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.028% dearer against Extended than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.051%. The two prices were read 54 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	Extended LINK-USD	12.956	0.0104	pay 0.0013% / 1h	22m 11s	$632K	$2.0M	25x
Short	BloFin LINK-USDT	12.966	0.0220	get 0.0220% / 8h	4h 22m	$5.2M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $24.36
Price spread: +0.080% → +0.051%: $2.81
Slippage, 4 orders: −$6.85
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $3.32
Costs to cover: 0.239%
Break-even: 6.0 days

Slippage from Extended: live order book, 1 min ago; BloFin: live order book, 12 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 Extended live order book, 1 min ago	1.54 bp	6.1 bp −$6	7.3 bp −$73	doesn't fit	doesn't fit
Sell BloFin live order book, 12 min ago	0.39 bp	6.9 bp −$7	11.3 bp −$113	32.0 bp −$3,201	69.3 bp −$34.6K

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	12.956	+0.006%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.962	+0.046%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.958	+0.015%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.289%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.955	−0.005%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.957	+0.013%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.965	+0.072%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.970	+0.113%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	+0.030%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.955	−0.005%	$392K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.961	+0.044%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.959	+0.025%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.954	−0.014%	$119.9M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.946	−0.075%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.946	−0.075%	$27.4M	$81.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.188%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	+0.041%	$128.2M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.961	+0.041%	$33.0M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	+0.072%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.960	+0.033%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.957	+0.010%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.966	+0.080%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	−0.012%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.967	+0.090%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	+0.088%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	+0.149%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.968	+0.095%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	+0.011%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.973	+0.130%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.958	+0.018%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.944	−0.094%	$635K	$693K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.956	long leg	$632K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.960	+0.029%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.964	+0.067%	$779K	$202K	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.966	+0.080%	$5.2M	$15.7M	75x
Hyperliquid LINK	+0.0368%	1h	12.976	+0.157%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.956	+0.001%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.961	+0.045%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0414%	1h	12.958	+0.014%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0535%	8h	12.967	+0.087%	$20.0M	$11.4M	50x	as long as short