Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.014%

Price spread now: Orderly against Injective+6.298%58s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.961%−$96 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Orderly is 6.298% dearer against Injective than usual: you sell high and buy low: +$630 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.961%, so the current rate has only just turned in your favour. The two prices were read 58 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	7m 52s	$4K	$48K	12x
Short	Orderly PERP_LINK_USDC	13.181	0.0070	get 0.0070% / 8h	7h 07m	$133K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now +6.298%Rate

Funding earned: $7.66
Price spread: +6.298% → 0.000%: $629.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $631.48
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0091% / S +0.0167%	1h	13.182	+6.309%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.191	+6.377%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.184	+6.324%	$134K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Phoenix LINK	+0.0036%	1h	13.187	+6.344%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDCshort	+0.0070%	8h	13.181	+6.298%	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.186	+6.335%	$2.0M	$2.8M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0099%	1h	13.189	+6.360%	$783K	$212K	50x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.228	+6.675%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.170	+6.214%	$404K	$307K	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	13.183	+6.312%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.179	+6.279%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.184	+6.323%	$122.4M	$298.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.180	+6.290%	$84.9M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.181	+6.298%	$27.6M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.194	+6.403%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.178	+6.274%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.182	+6.306%	$36.6M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.183	+6.315%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.181	+6.298%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.183	+6.315%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.169	+6.204%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	+6.240%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+6.321%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	+6.290%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.185	+6.331%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.181	+6.297%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.195	+6.415%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.183	+6.315%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	+6.194%	$649K	$866K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.175	+6.246%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.183	+6.312%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.178	+6.274%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0165%	1h	13.188	+6.355%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.170	+6.210%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.194	+6.404%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.179	+6.283%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0425%	1h	13.176	+6.259%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0478%	8h	13.198	+6.435%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0550%	1h	13.202	+6.464%	$81.5M	$25.0M	10x	as long as short