Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h −0.005%

Price spread now: dYdX against BloFin+0.030%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1371.374% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.030%, 7d avg +0.001%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and dYdX is 0.029% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.001%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.068% in total (about 3.5% 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	BloFin LINK-USDT	12.979	0.0220	pay 0.0220% / 8h	5h 40m	$5.3M	$15.8M	75x
Short	dYdX LINK-USD	12.983	0.0408	get 0.0051% / 1h	40m 29s	$344K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.030%Rate

Funding earned: $39.52
Price spread: +0.030% → +0.001%: $2.86
Slippage, 4 orders: −$115.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$94.99
Costs to cover: 1.374%
Break-even: 23.8 days

Slippage from BloFin: live order book, 3 min ago; dYdX: live order book, 24 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 BloFin live order book, 3 min ago	1.54 bp	8.6 bp −$9	11.6 bp −$116	20.0 bp −$1,996	58.4 bp −$29.2K
Sell dYdX live order book, 24 min ago	54.59 bp	59.6 bp −$60	144.0 bp −$1,440	199.1 bp −$19.9K	339.7 bp −$169.9K

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	12.977	−0.017%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.984	+0.039%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.978	−0.011%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.461%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.977	−0.015%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.970	−0.069%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.982	+0.025%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	+0.030%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.991	+0.089%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.989	+0.081%	$395K	$315K	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	12.986	+0.057%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.987	+0.060%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.993	+0.108%	$119.8M	$296.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.989	+0.077%	$84.0M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.988	+0.069%	$27.4M	$82.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.003	+0.185%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.988	+0.069%	$128.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.990	+0.085%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.993	+0.108%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.991	+0.092%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.987	+0.062%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.062%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.006	+0.207%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.243%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.247%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.994	+0.116%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.973	−0.050%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.107%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.973	−0.046%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.969	−0.079%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.986	+0.050%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.972	−0.054%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0105%	1h	12.986	+0.054%	$339K	$378K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.975	−0.031%	$771K	$193K	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.979	long leg	$5.3M	$15.8M	75x
Reya LINKRUSDPERP	+0.0386%	1h	12.984	+0.041%	$4K	—	20x	as long as short
dYdX LINK-USDshort	+0.0408%	1h	12.983	+0.030%	$344K	$30K	10x
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.977	−0.012%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0631%	8h	12.987	+0.062%	$20.0M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0680%	1h	13.004	+0.193%	$81.3M	$27.1M	10x	as long as short