LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0185%/8h= −20.3% APRnext payment −$0.23 per $10,000 · paid last 24h +0.017%

Price spread now: Arcus against Deribit+0.103%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$490.492% of the position

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.108%+$11 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.103%, 7d avg +0.069%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.034% dearer against Deribit than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of +0.069%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 4 days funding on this pair paid +0.108%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	12.896	0.0285	pay 0.0036% / 1h	43m 19s	$806K	$261K	50x
Short	Arcus LINK-USD	12.909	0.0100	get 0.0013% / 1h	43m 19s	$180K	$94K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. 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 DeribitbpFee ArcusbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$38.85
Price spread: +0.103% → +0.069%: $3.41
Slippage, 4 orders: −$37.75
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$84.69
Costs to cover: 0.492%
Break-even: never at this rate

Slippage from Deribit: live order book, 66 min ago; Arcus: live order book, 65 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 Deribit live order book, 66 min ago	4.25 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Arcus live order book, 65 min ago	11.98 bp	14.4 bp −$14	23.8 bp −$238	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 −0.0089% / S +0.0166%	1h	12.893	−0.020%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.892	−0.028%	$512K	$2.3M	3.7x	as long as short
Orderly PERP_LINK_USDC	+0.0002%	8h	12.882	−0.106%	$94K	$1.1M	20x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.893	−0.018%	$156K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.844%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.874	−0.168%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.886	−0.075%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.879	−0.131%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.895	−0.002%	$350K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.889	−0.050%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.885	−0.083%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.886	−0.076%	$119.0M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.880	−0.122%	$83.2M	$74.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.885	−0.083%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	12.909	+0.103%	$180K	$94K	10x
Gate LINK_USDT	+0.0100%	8h	12.885	−0.083%	$124.1M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.895	−0.005%	$34.1M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.895	−0.005%	$22.8M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.885	−0.083%	$53.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.891	−0.036%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.854	−0.321%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.870	−0.198%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.870	−0.198%	$578K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.883	−0.098%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.895	−0.005%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.890	−0.045%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.906	+0.080%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.885	−0.083%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.881	−0.114%	$632K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.885	−0.082%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.890	−0.040%	$541K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0114%	1h	12.894	−0.013%	$336K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.887	−0.067%	$934K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.887	−0.068%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.892	−0.029%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0285%	1h	12.896	long leg	$806K	$261K	50x
Hyperliquid LINK	+0.0329%	1h	12.907	+0.088%	$80.5M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.887	−0.071%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0580%	8h	12.894	−0.013%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0879%	1h	12.884	−0.093%	$343K	$33K	10x	as long as short