Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.021%

Price spread now: dYdX against BingX−0.080%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$261as in the Funding arb table

Net, price: spread back to 7d avg − costs−$297as in the Price arb table

costs, in and out, $10k−$2872.872% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.080%, 7d avg +0.023%

Together, before fees+0.393%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.103% cheaper against BingX than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of +0.023%). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.210	0.0100	pay 0.0100% / 8h	7h 42m	—	$21.3M	—
Short	dYdX LINK-USD	13.199	0.0206	get 0.0026% / 1h	42m 26s	$350K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $22.25
Price spread: −0.080% → +0.023%: −$10.27
Slippage, 4 orders: −$267.15
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$275.18
Costs to cover: 2.872%
Break-even: 93.6 days

Slippage from BingX: live order book, 6 min ago; dYdX: live order book, 32 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, 6 min ago	1.52 bp	6.5 bp −$7	8.1 bp −$81	17.8 bp −$1,780	40.6 bp −$20.3K
Sell dYdX live order book, 32 min ago	44.42 bp	224.7 bp −$225	228.2 bp −$2,282	228.6 bp −$22.9K	238.7 bp −$119.4K

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 −0.0091% / S +0.0167%	1h	13.201	−0.069%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.187	−0.171%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.199	−0.080%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0023%	1h	13.207	−0.023%	$764K	$182K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.132%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.161	−0.368%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0045%	8h	13.198	−0.091%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.204	−0.045%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.202	−0.057%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.211	+0.008%	$405K	$310K	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	13.208	−0.019%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.205	−0.035%	$277K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.212	+0.015%	$122.7M	$305.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.208	−0.015%	$85.1M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.210	0.000%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.219	+0.068%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.208	−0.015%	$130.8M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.203	−0.053%	$36.8M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.204	−0.045%	$22.9M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.209	−0.008%	$55.0M	$30.4M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.210	long leg	—	$21.3M	—
Variational Omni LINK	+0.0100%	8h	13.146	−0.481%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.156	−0.407%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.161	−0.371%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.166	−0.333%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.215	+0.038%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.199	−0.080%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.216	+0.043%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.198	−0.091%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.170	−0.303%	$648K	$871K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.205	−0.036%	$744K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.202	−0.062%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.198	−0.091%	$1.0M	$2.8M	50x	as long as short
Phemex LINKUSDT	+0.0140%	8h	13.210	0.000%	$20.4M	$11.6M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0197%	1h	13.212	+0.015%	$366K	$369K	15x	as long as short
dYdX LINK-USDshort	+0.0206%	1h	13.199	−0.080%	$350K	$48K	10x
BloFin LINK-USDT	+0.0220%	8h	13.196	−0.106%	$5.3M	$16.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.205	−0.041%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.209	−0.005%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0533%	1h	13.233	+0.174%	$80.9M	$25.1M	10x	as long as short