Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h −0.002%

Price spread now: Coinbase International against Orderly+0.031%7-day average 0.000% · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.031%, 7d avg 0.000%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.031% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of 0.000%. Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LINK_USDC	12.865	−0.0007	get 0.0007% / 8h	1h 30m	$93K	$1.1M	20x
Short	Coinbase International LINK-PERP-INTX	12.869	0.0120	get 0.0015% / 1h	30m 54s	$933K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.031%Rate

Funding earned: $26.62
Price spread: +0.031% → 0.000%: $3.08
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $13.7
Costs to cover: 0.160%
Break-even: 3.4 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 3 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 Coinbase International live order book, 3 min ago	2.72 bp	12.7 bp −$13	17.3 bp −$173	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 −0.0088% / S +0.0166%	1h	12.873	+0.060%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDClong	−0.0007%	8h	12.865	long leg	$93K	$1.1M	20x
Kalshi KXLINKPERP	0.0000%	8h	12.872	+0.052%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.873	+0.061%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.614%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.855	−0.081%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.874	+0.069%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.869	+0.035%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.870	+0.043%	$350K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.876	+0.085%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.870	+0.035%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.876	+0.085%	$118.8M	$301.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.870	+0.039%	$83.2M	$73.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.873	+0.062%	$26.9M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.888	+0.179%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.868	+0.023%	$123.8M	$15.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.876	+0.086%	$34.3M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.878	+0.101%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.872	+0.054%	$53.9M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.873	+0.062%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.849	−0.122%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.858	−0.054%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.869	+0.030%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.863	−0.016%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.878	+0.101%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.101%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.891	+0.205%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.874	+0.070%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.848	−0.135%	$631K	$783K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.866	+0.011%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.877	+0.092%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	12.869	+0.031%	$933K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0121%	1h	12.882	+0.132%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.877	+0.092%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.874	+0.070%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0335%	1h	12.887	+0.171%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.869	+0.032%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0449%	1h	12.880	+0.117%	$805K	$266K	50x	as long as short
Phemex LINKUSDT	+0.0584%	8h	12.891	+0.202%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0932%	1h	12.865	+0.002%	$343K	$33K	10x	as long as short