Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: ApeX Omni against Orderly+0.336%70s7-day average +0.016% · you sell dearer than you buy

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

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 3 days (all we have)−0.417%−$42 · spread now +0.336%, 7d avg +0.016%

Together, before fees−0.411%−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.320% dearer against Orderly than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.016%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LINK_USDC	13.104	0.0043	pay 0.0043% / 8h	23m 43s	$133K	$1.5M	20x
Short	ApeX Omni LINKUSDT	13.148	0.0100	get 0.0013% / 1h	23m 43s	$153K	$670K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.336%Rate

Funding earned: $11.87
Price spread: +0.336% → +0.016%: $31.99
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $27.87
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 55 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 ApeX Omni live order book, 55 min ago	5.31 bp	13.0 bp −$13	92.6 bp −$926	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 −0.0091% / S +0.0167%	1h	13.112	+0.064%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.141	+0.281%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.106	+0.015%	$723K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.115	+0.084%	$132K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.152	+0.366%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.372%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDClong	+0.0043%	8h	13.104	long leg	$133K	$1.5M	20x
Lighter LINK	+0.0096%	1h	13.099	−0.040%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.108	+0.033%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.118	+0.107%	$400K	$311K	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	13.108	+0.030%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.116	+0.092%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.100	−0.031%	$121.8M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.098	−0.046%	$84.3M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.099	−0.038%	$27.6M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.128	+0.183%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.102	−0.015%	$130.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.101	−0.023%	$36.4M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.104	0.000%	$22.6M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.097	−0.053%	$54.4M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.101	−0.023%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.138	+0.259%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.140	+0.275%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.144	+0.303%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	13.148	+0.336%	$153K	$670K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	13.114	+0.076%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.107	+0.019%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.128	+0.180%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.103	−0.008%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.108	+0.034%	$645K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.097	−0.055%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.106	+0.013%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.123	+0.145%	$993K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.115	+0.084%	$5.2M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0226%	1h	13.111	+0.053%	$362K	$377K	15x	as long as short
Hyperliquid LINK	+0.0281%	1h	13.114	+0.076%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.108	+0.028%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.113	+0.067%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.123	+0.145%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0629%	1h	13.113	+0.068%	$347K	$48K	10x	as long as short