Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h −0.030%

Price spread now: Deribit against BingX+0.008%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$21 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now +0.008%, 7d avg +0.015%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.215%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	12.949	0.0100	pay 0.0100% / 8h	6h 32m	—	$23.0M	—
Short	Deribit LINK_USDC-PERPETUAL	12.950	0.0175	get 0.0022% / 1h	32m 45s	$769K	$212K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.008%Rate

Funding earned: $15.75
Price spread: +0.008% → +0.015%: −$0.73
Slippage, 4 orders: −$12.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$14.63
Costs to cover: 0.297%
Break-even: 13.5 days

Slippage from BingX: live order book, 11 min ago; Deribit: live order book, 36 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 BingX live order book, 11 min ago	0.77 bp	5.8 bp −$6	6.8 bp −$68	17.1 bp −$1,715	44.3 bp −$22.1K
Sell Deribit live order book, 36 min ago	3.04 bp	10.2 bp −$10	16.3 bp −$163	doesn't fit	doesn't fit

LINK on 39 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	12.946	−0.023%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.953	+0.029%	$472K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.944	−0.037%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.240%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	+0.225%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.942	−0.054%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.958	+0.070%	$953K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.974	+0.191%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.016	+0.518%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.945	−0.033%	$394K	$322K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.956	+0.051%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.972	+0.180%	$275K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.974	+0.193%	$119.2M	$306.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.967	+0.139%	$83.6M	$72.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.969	+0.154%	$27.3M	$84.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.983	+0.263%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.951	+0.015%	$127.9M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.974	+0.193%	$33.6M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.974	+0.193%	$22.6M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.972	+0.178%	$54.0M	$31.2M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	12.949	long leg	—	$23.0M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.950	+0.008%	$337K	$394K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.955	+0.050%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.955	+0.044%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	+0.099%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	+0.070%	$133K	$684K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.948	−0.008%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.942	−0.058%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.958	+0.071%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.945	−0.031%	$14K	$44K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.928	−0.159%	$638K	$864K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.955	+0.043%	$658K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.949	−0.001%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0175%	1h	12.950	+0.008%	$769K	$212K	50x
dYdX LINK-USD	+0.0313%	1h	12.963	+0.112%	$343K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.942	−0.055%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0395%	1h	12.980	+0.239%	$79.6M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	12.949	−0.002%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0665%	8h	12.959	+0.077%	$20.0M	$11.5M	50x	as long as short