Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Arcus against OKX+0.154%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$460.462% of the position

Long on OKX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.154%, 7d avg +0.082%

Together, before fees−0.098%−$10 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: Arcus is 0.072% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	12.991	0.0100	pay 0.0100% / 8h	6h 20m	$27.4M	$84.2M	50x
Short	Arcus LINK-USD	13.011	0.0100	get 0.0013% / 1h	20m 09s	$182K	$166K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against OKX. 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 OKXbpFee ArcusbpOrdersPrice spread, now +0.154%Rate

Funding earned: $0
Price spread: +0.154% → +0.082%: $7.16
Slippage, 4 orders: −$31.71
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$39.05
Costs to cover: 0.462%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Arcus: live order book, 48 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 OKX live order book, 4 min ago	0.38 bp	6.4 bp −$6	17.1 bp −$171	32.0 bp −$3,198	doesn't fit
Sell Arcus live order book, 48 min ago	8.71 bp	11.0 bp −$11	19.1 bp −$191	doesn't fit	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	12.990	−0.008%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.012	+0.159%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.992	+0.005%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.549%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	+0.254%	$3K	$86K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0050%	1h	12.993	+0.018%	$772K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.988	−0.023%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.049	+0.446%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.991	0.000%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.993	+0.013%	$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	12.992	+0.012%	$395K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.995	+0.033%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.995	+0.029%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.991	0.000%	$119.3M	$302.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.986	−0.038%	$83.8M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	12.991	long leg	$27.4M	$84.2M	50x
Arcus LINK-USDshort	+0.0100%	1h	13.011	+0.154%	$182K	$166K	10x
Gate LINK_USDT	+0.0100%	8h	12.989	−0.015%	$128.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.991	0.000%	$33.0M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.993	+0.015%	$22.5M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.990	−0.008%	$54.0M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.995	+0.031%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	+0.108%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.033	+0.327%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.032	+0.316%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.038	+0.362%	$134K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.996	+0.038%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.990	−0.010%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.002	+0.086%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.990	−0.008%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.032%	$641K	$858K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.984	−0.050%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.991	+0.001%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0110%	1h	13.005	+0.108%	$338K	$386K	15x	as long as short
dYdX LINK-USD	+0.0298%	1h	12.993	+0.015%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.986	−0.036%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0451%	1h	13.007	+0.123%	$80.4M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.996	+0.041%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0622%	8h	13.006	+0.115%	$20.1M	$11.5M	50x	as long as short