Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: SunX against Injective+5.218%7-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 SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.949%−$95 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 +$2 a day on $10k at the current rate, and SunX is 5.218% dearer against Injective than usual: you sell high and buy low: +$522 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 −0.949%, so the current rate has only just turned in your favour.

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	2m 57s	$4K	$48K	12x
Short	SunX LINK-USDT	13.047	0.0100	get 0.0100% / 8h	6h 02m	$33K	$1.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +5.218%Rate

Funding earned: $14
Price spread: +5.218% → 0.000%: $521.77
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $527.75
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 12 min ago. 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 SunX live order book, 12 min ago	13.68 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit

Injective: 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 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	13.029	+5.071%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.049	+5.230%	$470K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.031	+5.090%	$160K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Phoenix LINK	+0.0049%	1h	13.036	+5.125%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.036	+5.129%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.033	+5.105%	$953K	$2.6M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.040	+5.161%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.035	+5.117%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.034	+5.109%	$396K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.041	+5.167%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.036	+5.129%	$276K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.025	+5.044%	$119.8M	$298.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.020	+5.000%	$84.2M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.021	+5.008%	$27.5M	$82.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.047	+5.218%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.039	+5.153%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.028	+5.065%	$33.1M	$59.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.032	+5.097%	$23.1M	$13.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.021	+5.008%	$54.1M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.024	+5.032%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	+4.744%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	+4.628%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.003	+4.863%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.976	+4.645%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.042	+5.177%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.037	+5.134%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.047	+5.218%	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	13.039	+5.153%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.957	+4.494%	$639K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.035	+5.123%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.039	+5.152%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0145%	1h	13.032	+5.097%	$339K	$377K	15x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	13.030	+5.080%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0418%	1h	13.033	+5.108%	$345K	$31K	10x	as long as short
Hyperliquid LINK	+0.0481%	1h	13.042	+5.181%	$81.3M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.046	+5.209%	$6.8M	$8.0M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0525%	1h	13.042	+5.179%	$775K	$212K	50x	as long as short
Phemex LINKUSDT	+0.0606%	8h	13.046	+5.210%	$20.1M	$11.6M	50x	as long as short