Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.031%

Price spread now: BloFin against Polymarket Perps−0.023%45s7-day average — · you buy dearer than you sell

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

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.556%+$56 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.023% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 16 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.556% in total) that is about 7 hours. The two prices were read 45 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	Polymarket Perps LINK-USD	12.843	0.0100	pay 0.0013% / 1h	21m 58s	$80K	$70K	10x
Short	BloFin LINK-USDT	12.840	0.0220	get 0.0220% / 8h	21m 58s	$5.2M	$15.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now −0.023%Rate

Funding earned: $25.2
Price spread: −0.023% → 0.000%: −$2.34
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $2.86
Costs to cover: 0.200%
Break-even: 6.2 days

Slippage unknown: Polymarket Perps: no order-book sample; BloFin: live order book, 2 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 2 min ago	0.78 bp	7.1 bp −$7	13.5 bp −$135	30.2 bp −$3,022	75.9 bp −$38.0K

Polymarket Perps: 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 −0.0087% / S +0.0165%	1h	12.837	−0.045%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0082%	8h	12.831	−0.093%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.847	+0.029%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.838	−0.042%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.449%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.857	+0.105%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.835	−0.065%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.844	+0.007%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.843	0.000%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.843	−0.003%	$80.2M	$28.1M	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	12.838	−0.038%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.847	+0.030%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.836	−0.055%	$118.7M	$299.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.830	−0.101%	$83.0M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.835	−0.062%	$27.0M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.857	+0.109%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.836	−0.055%	$132.0M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.836	−0.055%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.836	−0.055%	$22.6M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.830	−0.101%	$53.6M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.831	−0.093%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.841	−0.016%	$333K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.061%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.846	+0.025%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	−0.030%	$574K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.853	+0.078%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USDlong	+0.0100%	1h	12.843	long leg	$80K	$70K	10x
Derive LINK-PERP	+0.0100%	1h	12.833	−0.077%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.856	+0.098%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.836	−0.055%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.835	−0.065%	$627K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.837	−0.048%	$6.4M	$8.5M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.830	−0.104%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.840	−0.020%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.834	−0.070%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.840	−0.023%	$5.2M	$15.8M	75x
Deribit LINK_USDC-PERPETUAL	+0.0334%	1h	12.845	+0.015%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.833	−0.078%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0552%	8h	12.849	+0.047%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0606%	1h	12.840	−0.022%	$342K	$45K	10x	as long as short