Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0447%/8h= +48.9% APRpaid last 24h +0.030%

Price spread now: dYdX against Aster−0.030%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1231.227% of the position

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.261%+$26 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.030%, 7d avg −0.028%

Together, before fees+0.238%+ Points / potential airdropAster: Stage 5 · farm board+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.261% in total (about 13.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	12.956	0.0100	pay 0.0100% / 8h	4h 31m	$1.2M	$2.4M	50x
Short	dYdX LINK-USD	12.953	0.0547	get 0.0068% / 1h	31m 21s	$343K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $93.83
Price spread: −0.030% → −0.028%: −$0.19
Slippage, 4 orders: −$104.7
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$29.06
Costs to cover: 1.227%
Break-even: 9.2 days

Slippage from Aster: live order book, 2 min ago; dYdX: live order book, 28 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 Aster live order book, 2 min ago	0.77 bp	9.1 bp −$9	19.8 bp −$198	doesn't fit	doesn't fit
Sell dYdX live order book, 28 min ago	46.47 bp	51.5 bp −$51	134.3 bp −$1,343	254.7 bp −$25.5K	714.7 bp −$357.4K

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	12.955	−0.010%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.938	−0.140%	$488K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.956	−0.006%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.295%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0058%	8h	12.954	−0.019%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.951	−0.042%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.904	−0.405%	$940K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.882	−0.577%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.957	+0.003%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.945	−0.089%	$391K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDTlong	+0.0100%	8h	12.956	long leg	$1.2M	$2.4M	50x
Pacifica LINK	+0.0100%	1h	12.952	−0.032%	$275K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.958	+0.011%	$119.9M	$297.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.953	−0.027%	$83.5M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.953	−0.027%	$27.3M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.968	+0.089%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.956	−0.004%	$128.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.958	+0.012%	$32.5M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.960	+0.027%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.956	−0.004%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.956	−0.004%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.950	−0.050%	$339K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.860	−0.743%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	−0.558%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.887	−0.539%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.914	−0.328%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.963	+0.050%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.935	−0.166%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.953	−0.028%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.941	−0.119%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.904	−0.403%	$632K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.952	−0.038%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.940	−0.124%	$543K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.921	−0.274%	$5.2M	$15.7M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0283%	1h	12.946	−0.079%	$773K	$197K	50x	as long as short
Hyperliquid LINK	+0.0380%	1h	12.973	+0.128%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.954	−0.015%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.944	−0.092%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USDshort	+0.0547%	1h	12.953	−0.030%	$343K	$30K	10x
Phemex LINKUSDT	+0.0550%	8h	12.953	−0.027%	$20.0M	$11.4M	50x	as long as short