Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Bybit against KuCoin−0.192%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days+0.197%+$20 · spread now −0.192%, 7d avg −0.015%

Together, before fees+0.183%+$18 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: Bybit is 0.178% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.007	0.0100	pay 0.0100% / 8h	5h 58m	$23.1M	$13.7M	75x
Short	Bybit LINKUSDT	12.982	0.0100	get 0.0100% / 8h	5h 58m	$84.0M	$71.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.192%Rate

Funding earned: $0
Price spread: −0.192% → −0.015%: −$17.76
Slippage, 4 orders: −$16.57
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$57.33
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 1 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 KuCoin live order book, 6 min ago	1.15 bp	12.7 bp −$13	20.8 bp −$208	58.4 bp −$5,843	doesn't fit
Sell Bybit live order book, 1 min ago	0.38 bp	7.2 bp −$7	13.8 bp −$138	35.2 bp −$3,517	doesn't fit

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	13.000	−0.054%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.023	+0.122%	$345K	$30K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.014	+0.055%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.002	−0.038%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.667%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.030	+0.178%	$3K	$83K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.018	+0.085%	$953K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.997	−0.077%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.000	−0.053%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.020	+0.099%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.012	+0.042%	$396K	$317K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.007	−0.001%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.021	+0.108%	$275K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.993	−0.106%	$119.6M	$297.5M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	12.982	−0.192%	$84.0M	$71.2M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.981	−0.200%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.035	+0.215%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.003	−0.031%	$128.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	−0.015%	$32.3M	$56.6M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.007	long leg	$23.1M	$13.7M	75x
Bitget LINKUSDT	+0.0100%	8h	13.000	−0.054%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.002	−0.038%	—	$22.7M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.019	+0.094%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.027	+0.150%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.036	+0.221%	$589K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.028	+0.161%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.023	+0.123%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.000	−0.057%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.031	+0.184%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.999	−0.062%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.010	+0.022%	$642K	$687K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.996	−0.085%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	−0.057%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0159%	1h	13.031	+0.185%	$340K	$379K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0242%	1h	13.005	−0.013%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	13.001	−0.050%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.000	−0.057%	$6.8M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0586%	1h	13.023	+0.123%	$81.4M	$26.5M	10x	as long as short
Phemex LINKUSDT	+0.0595%	8h	13.007	0.000%	$20.1M	$11.6M	50x	as long as short