LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.058%

Price spread now: Hyperliquid against Coinbase International+0.106%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.106%, 7d avg +0.071%

Together, before fees+0.031%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.035% dearer against Coinbase International than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.181	0.0104	pay 0.0013% / 1h	18m 20s	$990K	$2.7M	50x
Short	Hyperliquid LINK	13.195	0.0100	get 0.0013% / 1h	18m 20s	$78.0M	$23.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. 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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$0.84
Price spread: +0.106% → +0.071%: $3.53
Slippage, 4 orders: −$21.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$38.07
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 6 min ago; Hyperliquid: live order book, 5 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 Coinbase International live order book, 6 min ago	2.66 bp	16.8 bp −$17	21.2 bp −$212	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.38 bp	8.6 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit

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 −0.0092% / S +0.0166%	1h	13.181	+0.003%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.178	−0.020%	$483K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.185	+0.030%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.182	+0.005%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0017%	1h	13.177	−0.033%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.159	−0.168%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.925%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.175	−0.046%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0087%	8h	13.164	−0.131%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.174	−0.053%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.167	−0.107%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.181	0.000%	$401K	$317K	10x	as long as short
Hyperliquid LINKshort	+0.0100%	1h	13.195	+0.106%	$78.0M	$23.5M	10x
Aster LINKUSDT	+0.0100%	8h	13.183	+0.015%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.171	−0.076%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.181	−0.001%	$122.1M	$300.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.176	−0.038%	$84.7M	$69.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.179	−0.015%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	+0.061%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.182	+0.008%	$131.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.182	+0.008%	$37.4M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.182	+0.008%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.178	−0.023%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.179	−0.015%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.161	−0.149%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	−0.273%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.099%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.184	+0.023%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.176	−0.037%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.196	+0.113%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.179	−0.015%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.181%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.178	−0.022%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	+0.011%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.181	long leg	$990K	$2.7M	50x
Backpack LINK_USDC_PERP	+0.0118%	1h	13.175	−0.046%	$365K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.164	−0.129%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.180	−0.005%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.189	+0.061%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.189	+0.063%	$7.0M	$7.8M	50x	as long as short