Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.001%

Price spread now: Orderly against Nado+0.023%7-day average +0.048% · you sell dearer than you buy

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

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now +0.023%, 7d avg +0.048%

Together, before fees+0.040%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.025% cheaper against Nado than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	13.173	0.0100	pay 0.0012% / 1h	55m 40s	$403K	$312K	10x
Short	Orderly PERP_LINK_USDC	13.176	0.0043	get 0.0043% / 8h	7h 55m	$133K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. 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 NadobpFee OrderlybpOrdersPrice spread, now +0.023%Rate

Funding earned: −$11.95
Price spread: +0.023% → +0.048%: −$2.5
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.45
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 17 min ago; 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 Nado live order book, 17 min ago	0.38 bp	6.0 bp −$6	16.5 bp −$165	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	13.171	−0.014%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.164	−0.068%	$481K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.181	+0.059%	$743K	$152K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.173	−0.002%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.172	−0.006%	$4K	$89K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.868%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDCshort	+0.0043%	8h	13.176	+0.023%	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.163	−0.079%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.153	−0.152%	$32K	$3K	20x	as long as short
Nado LINK-PERPlong	+0.0100%	1h	13.173	long leg	$403K	$312K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.177	+0.031%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.162	−0.085%	$277K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.157	−0.121%	$122.2M	$306.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.156	−0.129%	$85.0M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.154	−0.144%	$27.9M	$86.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	−0.008%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.182	+0.068%	$130.7M	$12.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.160	−0.099%	$36.6M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.158	−0.114%	$22.8M	$14.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.157	−0.121%	$54.7M	$30.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.176	+0.023%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.175	+0.013%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	+0.043%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.183	+0.078%	$597K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.185	+0.091%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.178	+0.038%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.175	+0.013%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.158%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.181	+0.061%	$5K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	−0.040%	$648K	$875K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.178	+0.038%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	+0.068%	$553K	$2K	3x	as long as short
Phemex LINKUSDT	+0.0105%	8h	13.193	+0.152%	$20.4M	$11.6M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.179	+0.046%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.192	+0.144%	$5.2M	$16.7M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0305%	1h	13.197	+0.182%	$364K	$373K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.191	+0.138%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.166	−0.055%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0419%	1h	13.157	−0.125%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0438%	1h	13.185	+0.091%	$79.2M	$24.6M	10x	as long as short