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Price arb /

LINK

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Spread before costs (cost unknown: a leg has no order-book sample)+0.142%
7d average—if it closes, per $10,000$14funding while held, a day+$5.33
Long on PhoenixShort on Extended
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix LINK12.983−0.0074get 0.0009% / 1h58m 22s$4K$41K10x
ShortExtended LINK-USD13.0020.0104get 0.0013% / 1h58m 22s$681K$1.9M25x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$14.16
Funding while held
$5.33
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$7.49
Spread needed to break even
0.120%
Slippage unknown: Phoenix: no order-book sample; Extended: live order book, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0178%
Per $10,000 a day
+$5.33
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix no order-book sample—————
Sell Extended live order book, 2 min ago1.15 bp5.7 bp −$67.2 bp −$72doesn't fitdoesn't fit
Phoenix: 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 price on every exchange

against the cheapest. Click to use as the short leg.
Injective12.400cheapestedgeX12.981+4.687%
Phoenix12.983+4.706%
HTX12.985+4.721%Variational Omni12.988+4.746%Derive12.991+4.766%Reya12.992+4.775%MEXC12.999+4.831%BloFin13.000+4.839%
Extended13.002+4.854%
Polymarket Perps13.002+4.855%Bybit13.003+4.863%Coinbase International13.003+4.863%Gate13.004+4.871%Nado13.004+4.871%KuCoin13.005+4.879%Bitget13.005+4.879%BingX13.005+4.879%Aster13.007+4.893%OKX13.007+4.895%Kraken Futures13.007+4.897%Binance13.007+4.897%GMX13.007+4.897%Aevo13.008+4.901%Kalshi13.008+4.902%SoDEX13.008+4.903%Paradex13.010+4.916%Lighter13.010+4.919%gTrade (Gains Network)13.011+4.926%Orderly13.011+4.927%Phemex13.011+4.927%Deribit13.012+4.937%Pacifica13.014+4.952%Hyperliquid13.015+4.960%dYdX13.015+4.961%Backpack13.017+4.976%SunX13.022+5.015%Arcus13.023+5.024%ApeX Omni13.033+5.105%

LINK on 39 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective LINK/USDC PERP−4.494%+0.0033%1h$4K$106K12xas long as short
edgeX LINKUSDC−0.018%+0.0100%4h$43K$313K20xas long as short
Phoenix LINKlong0.000%−0.0074%1h$4K$41K10x
HTX LINK-USDT+0.015%+0.0100%8h$645K$1.2M75xas long as short
Variational Omni LINK+0.038%+0.0004%8h$3.2M$1.2M—as long as short
Derive LINK-PERP+0.058%+0.0100%1h$28K$10K10xas long as short
Reya LINKRUSDPERP+0.066%+0.0355%1h$4K$40020xas long as short
MEXC LINK_USDT+0.119%+0.0058%8h$33.9M$55.9M300xas long as short
BloFin LINK-USDT+0.127%+0.0179%8h$5.2M$10.5M75xas long as short
Extended LINK-USDshort+0.142%+0.0104%1h$681K$1.9M25x
Show all 39 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Polymarket Perps LINK-USD+0.142%+0.0100%1h$74K$44K10xas long as short
Bybit LINKUSDT+0.150%+0.0022%8h$80.4M$61.4M75xas long as short
Coinbase International LINK-PERP-INTX+0.150%+0.0088%1h$998K$2.7M50xas long as short
Gate LINK_USDT+0.158%+0.0002%8h$132.5M$12.2M75xas long as short
Nado LINK-PERP+0.158%+0.0100%1h$432K$364K10xas long as short
KuCoin LINKUSDTM+0.166%+0.0100%8h$21.3M$17.8M75xas long as short
Bitget LINKUSDT+0.166%+0.0100%8h$54.0M$30.3M75xas long as short
BingX LINK-USDC+0.166%+0.0100%8h—$6.6M—as long as short
Aster LINKUSDT+0.179%+0.0100%8h$1.4M$2.0M50xas long as short
OKX LINK-USDT-SWAP+0.181%+0.0095%8h$27.5M$89.4M50xas long as short
Kraken Futures PF_LINKUSD+0.183%−0.0173%1h$6.1M$6.7M50xas long as short
Binance LINKUSDT+0.183%+0.0059%8h$118.4M$283.9M75xas long as short
GMX LINK/USD [LINK-USDC]+0.183%L −0.0083% / S +0.0156%1h$1.7M—200xas long as short
Aevo LINK-PERP+0.186%+0.0096%1h$547K$3403xas long as short
Kalshi KXLINKPERP+0.188%0.0000%8h$449K$2.2M3.7xas long as short
SoDEX LINK-USD+0.189%+0.0100%1h$8K$45K10xas long as short
Paradex LINK-USD-PERP+0.201%+0.0044%8h$32K$2K20xas long as short
Lighter LINK+0.204%+0.0040%1h$2.0M$2.0M10xas long as short
gTrade (Gains Network) LINK/USD+0.210%L +0.0003% / S −0.0007%1h$177K—150xas long as short
Orderly PERP_LINK_USDC+0.212%+0.0099%8h$222K$1.5M20xas long as short
Phemex LINKUSDT+0.212%+0.0335%8h$20.3M$11.3M50xas long as short
Deribit LINK_USDC-PERPETUAL+0.221%0.0000%1h$702K$77K50xas long as short
Pacifica LINK+0.235%+0.0100%1h$272K$170K10xas long as short
Hyperliquid LINK+0.243%+0.0100%1h$78.9M$20.8M10xas long as short
dYdX LINK-USD+0.243%0.0000%1h$345K$60K10xas long as short
Backpack LINK_USDC_PERP+0.258%+0.0100%1h$387K$360K15xas long as short
SunX LINK-USDT+0.296%+0.0100%8h$34K$1.6M30xas long as short
Arcus LINK-USD+0.304%+0.0100%1h$183K$197K10xas long as short
ApeX Omni LINKUSDT+0.381%+0.0100%1h$132K$654K50xas long as short