Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0039%/8h= +4.2% APRpaid last 24h +0.007%

Price spread now: Aevo against Orderly+0.021%7-day average −0.015% · you sell dearer than you buy

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.021%, 7d avg −0.015%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aevo is 0.036% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread 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	Orderly PERP_LINK_USDC	13.023	0.0065	pay 0.0065% / 8h	5h 32m	$118K	$1.5M	20x
Short	Aevo LINK-PERP	13.026	0.0104	get 0.0013% / 1h	32m 57s	$546K	$2K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now +0.021%Rate

Funding earned: $8.14
Price spread: +0.021% → −0.015%: $3.63
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$10.23
Costs to cover: 0.220%
Break-even: 15.8 days

Slippage unknown: Orderly: no order-book sample; Aevo: live order book, 31 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo live order book, 31 min ago	19.56 bp	36.9 bp −$37	178.2 bp −$1,782	doesn't fit	doesn't fit

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 −0.0090% / S +0.0167%	1h	13.024	+0.005%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.023	−0.004%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.024	+0.011%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.784%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.007	−0.123%	$938K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDClong	+0.0065%	8h	13.023	long leg	$118K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.026	+0.025%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.016	−0.053%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.024	+0.011%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.023	0.000%	$396K	$315K	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	13.028	+0.038%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.022	−0.010%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.028	+0.038%	$120.1M	$295.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.026	+0.023%	$84.2M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.029	+0.046%	$27.5M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.033	+0.077%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.025	+0.015%	$128.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.028	+0.038%	$32.1M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.029	+0.046%	$23.1M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.029	+0.046%	$54.2M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.030	+0.054%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.034	+0.084%	$344K	$379K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.994	−0.223%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.004	−0.149%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.016	−0.054%	$585K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.005	−0.138%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.031	+0.061%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.023	0.000%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.040	+0.127%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.026	+0.023%	$23K	$53K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.982	−0.313%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.026	+0.025%	$659K	$2.0M	25x	as long as short
Aevo LINK-PERPshort	+0.0104%	1h	13.026	+0.021%	$546K	$2K	3x
BloFin LINK-USDT	+0.0220%	8h	13.025	+0.015%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0364%	1h	13.029	+0.047%	$774K	$183K	50x	as long as short
dYdX LINK-USD	+0.0365%	1h	13.014	−0.066%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.025	+0.014%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.029	+0.048%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0609%	8h	13.042	+0.146%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0645%	1h	13.048	+0.192%	$81.8M	$27.1M	10x	as long as short