Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: BloFin against Pacifica+0.107%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.271%+$27 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.107%, 7d avg −0.014%

Together, before fees+0.190%+ Points / potential airdropPacifica: Active · farm board+$19 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 BloFin is 0.120% dearer against Pacifica than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	12.857	0.0100	pay 0.0013% / 1h	32m 45s	$274K	$183K	10x
Short	BloFin LINK-USDT	12.871	0.0220	get 0.0220% / 8h	1h 32m	$5.2M	$15.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.107%Rate

Funding earned: $25.2
Price spread: +0.107% → −0.014%: $12.03
Slippage, 4 orders: −$22.2
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.96
Costs to cover: 0.422%
Break-even: 8.4 days

Slippage from Pacifica: live order book, 10 min ago; BloFin: live order book, 6 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, 10 min ago	4.66 bp	14.2 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.17 bp	8.6 bp −$9	10.3 bp −$103	22.9 bp −$2,290	56.9 bp −$28.5K

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
GMX LINK/USD [LINK-USDC]	L −0.0089% / S +0.0166%	1h	12.853	−0.035%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0005%	8h	12.857	−0.002%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.862	+0.040%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.867	+0.075%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.557%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.855	−0.021%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.868	+0.085%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.864	+0.052%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.866	+0.064%	$349K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.869	+0.093%	$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 LINKlong	+0.0100%	1h	12.857	long leg	$274K	$183K	10x
Binance LINKUSDT	+0.0100%	8h	12.865	+0.059%	$118.7M	$301.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.856	−0.010%	$83.1M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.857	−0.002%	$26.9M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.879	+0.169%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.864	+0.052%	$124.0M	$15.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.869	+0.091%	$34.3M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.872	+0.114%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.864	+0.052%	$53.8M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.868	+0.083%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.849	−0.063%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.870	+0.100%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.866	+0.068%	$581K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.873	+0.122%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.867	+0.075%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.042%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.879	+0.167%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.865	+0.060%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.852	−0.042%	$631K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.863	+0.044%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.868	+0.084%	$540K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0112%	1h	12.878	+0.161%	$336K	$388K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.848	−0.072%	$931K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.873	+0.121%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.871	+0.107%	$5.2M	$15.8M	75x
Hyperliquid LINK	+0.0334%	1h	12.883	+0.200%	$80.3M	$27.7M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0364%	1h	12.870	+0.096%	$805K	$266K	50x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.860	+0.018%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0585%	8h	12.883	+0.200%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0962%	1h	12.865	+0.062%	$343K	$33K	10x	as long as short