Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Derive against Bybit−0.015%7-day average — · you buy dearer than you sell

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

Long on Bybit 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—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	13.085	0.0100	pay 0.0100% / 8h	11m 08s	$84.2M	$71.2M	75x
Short	Derive LINK-PERP	13.083	0.0100	get 0.0013% / 1h	11m 08s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Bybit. 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 BybitbpFee DerivebpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → 0.000%: −$1.47
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Derive: 3 bp × 2 orders: −$6
Net: −$18.47
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.38 bp	7.7 bp −$8	12.8 bp −$128	32.0 bp −$3,204	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 −0.0091% / S +0.0167%	1h	13.088	+0.024%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.100	+0.113%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.092	+0.051%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.090	+0.036%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.108	+0.180%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.235%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.084	−0.008%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.087	+0.012%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.087	+0.013%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.090	+0.038%	$400K	$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	13.092	+0.056%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.092	+0.056%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.085	0.000%	$121.6M	$304.9M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	13.085	long leg	$84.2M	$71.2M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.088	+0.023%	$27.5M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.106	+0.160%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.086	+0.008%	$129.8M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.087	+0.015%	$36.1M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.092	+0.053%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.086	+0.008%	$54.4M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.088	+0.023%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.083	−0.018%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.101	+0.119%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.100	+0.114%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.106	+0.160%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.089	+0.031%	$81K	$69K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	13.083	−0.015%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.100	+0.113%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.086	+0.008%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.085	+0.002%	$644K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.082	−0.023%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.088	+0.021%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.097	+0.092%	$992K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.097	+0.092%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.088	+0.023%	$5.2M	$16.8M	75x	as long as short
Hyperliquid LINK	+0.0291%	1h	13.104	+0.145%	$77.7M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.084	−0.006%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.094	+0.069%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0488%	8h	13.104	+0.145%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0552%	1h	13.094	+0.071%	$347K	$48K	10x	as long as short