Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Derive against Aster−0.046%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.046% cheaper against Aster than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	13.201	0.0100	pay 0.0100% / 8h	1h 02m	$1.4M	$2.9M	50x
Short	Derive LINK-PERP	13.195	0.0100	get 0.0013% / 1h	2m 33s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Aster. 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 AsterbpFee DerivebpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → 0.000%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$18.57
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 1 min ago; Derive: no order-book sample. 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 Aster live order book, 1 min ago	1.89 bp	6.6 bp −$7	15.4 bp −$154	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 −0.0090% / S +0.0167%	1h	13.199	−0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	+0.150%	$493K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.203	+0.012%	$724K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.200	−0.012%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.069%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.192	−0.068%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.196	−0.039%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0053%	1h	13.196	−0.042%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.202	+0.003%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.198	−0.022%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.198	−0.020%	$404K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.213	+0.089%	$78.1M	$24.1M	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	13.201	long leg	$1.4M	$2.9M	50x
Pacifica LINK	+0.0100%	1h	13.203	+0.014%	$277K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.200	−0.009%	$122.7M	$303.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.198	−0.024%	$85.2M	$70.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.201	−0.001%	$27.8M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.217	+0.120%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.199	−0.017%	$130.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.201	−0.001%	$36.4M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.198	−0.024%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.201	−0.001%	$55.0M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.200	−0.009%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.189	−0.094%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.193	−0.064%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	−0.024%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.188	−0.100%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.202	+0.006%	$82K	$69K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	13.195	−0.046%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.216	+0.114%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.200	−0.009%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.196	−0.041%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.197	−0.029%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.203	+0.011%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.208	+0.052%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.206	+0.036%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0222%	1h	13.206	+0.036%	$364K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.199	−0.018%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0463%	8h	13.213	+0.089%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.207	+0.046%	$7.0M	$8.1M	50x	as long as short