Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Binance against Pacifica+0.020%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.345% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.020%, 7d avg −0.012%

Together, before fees−0.021%+ Points / potential airdropPacifica: Active · farm board−$2 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: Binance is 0.032% dearer against Pacifica than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	12.892	0.0100	pay 0.0013% / 1h	0m 25s	$274K	$182K	10x
Short	Binance LINKUSDT	12.895	0.0100	get 0.0100% / 8h	0m 25s	$119.2M	$298.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Pacifica. 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 PacificabpFee BinancebpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.012%: $3.23
Slippage, 4 orders: −$16.49
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$31.26
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Pacifica: live order book, 38 min ago; Binance: live order book, 13 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 Pacifica live order book, 38 min ago	4.27 bp	11.2 bp −$11	20.7 bp −$207	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.39 bp	5.9 bp −$6	12.6 bp −$126	36.3 bp −$3,630	119.0 bp −$59.5K

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
Orderly PERP_LINK_USDC	−0.0098%	8h	12.886	−0.049%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.887	−0.039%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.888	−0.033%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.889	−0.029%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.819%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.894	+0.015%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.893	+0.009%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.892	0.000%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.887	−0.037%	$348K	$336K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.904	+0.091%	$80.5M	$27.9M	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	12.895	+0.020%	$1.2M	$2.4M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	12.892	long leg	$274K	$182K	10x
Binance LINKUSDTshort	+0.0100%	8h	12.895	+0.020%	$119.2M	$298.3M	75x
Bybit LINKUSDT	+0.0100%	8h	12.888	−0.034%	$83.5M	$73.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.894	+0.013%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.910	+0.137%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.895	+0.021%	$133.9M	$18.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.894	+0.013%	$34.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.897	+0.036%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.892	−0.003%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.894	+0.013%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.901	+0.067%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.879	−0.105%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	−0.079%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.889	−0.025%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.881	−0.088%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.896	+0.028%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.881	−0.089%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.901	+0.067%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.888	−0.034%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.868	−0.190%	$629K	$751K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.891	−0.013%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.890	−0.019%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.901	+0.067%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.899	+0.052%	$931K	$3.0M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.885	−0.057%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0316%	1h	12.895	+0.021%	$807K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.890	−0.019%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0547%	1h	12.886	−0.046%	$343K	$45K	10x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.905	+0.098%	$19.9M	$11.4M	50x	as long as short