Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.043%

Price spread now: BloFin against SoDEX−0.054%56s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 0.054% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 36 hours of funding at the current rate (+$4 a day). The two prices were read 56 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	SoDEX LINK-USD	12.950	0.0100	pay 0.0013% / 1h	19m 26s	$9K	$64K	10x
Short	BloFin LINK-USDT	12.943	0.0220	get 0.0220% / 8h	3h 19m	$5.3M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now −0.054%Rate

Funding earned: $25.2
Price spread: −0.054% → 0.000%: −$5.41
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$0.21
Costs to cover: 0.200%
Break-even: 7.1 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 4 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	0.39 bp	8.1 bp −$8	11.2 bp −$112	21.6 bp −$2,156	50.3 bp −$25.2K

SoDEX: 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 −0.0089% / S +0.0166%	1h	12.935	−0.117%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.947	−0.023%	$491K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.936	−0.108%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.247%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0050%	8h	12.934	−0.124%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.914	−0.277%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.943	−0.055%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.929	−0.164%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.931	−0.143%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.941	−0.070%	$1.2M	$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	12.935	−0.114%	$277K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.936	−0.108%	$120.2M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.936	−0.108%	$83.5M	$73.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.938	−0.093%	$27.4M	$80.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.954	+0.031%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.936	−0.108%	$128.2M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.938	−0.093%	$32.9M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.940	−0.077%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.936	−0.108%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.934	−0.124%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.948	−0.015%	$339K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.935	−0.114%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	−0.122%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	−0.139%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.946	−0.031%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.944	−0.046%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.934	−0.123%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.960	+0.073%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USDlong	+0.0100%	1h	12.950	long leg	$9K	$64K	10x
HTX LINK-USDT	+0.0100%	8h	12.904	−0.356%	$633K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.932	−0.140%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.938	−0.089%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.954	+0.031%	$924K	$2.7M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.943	−0.054%	$5.3M	$15.7M	75x
Deribit LINK_USDC-PERPETUAL	+0.0236%	1h	12.957	+0.052%	$787K	$210K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.955	+0.042%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0313%	1h	12.952	+0.015%	$80.9M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.935	−0.112%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.953	+0.023%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0879%	1h	12.936	−0.110%	$344K	$32K	10x	as long as short