Funding you earn now, next payment 05:00 UTC+0.0778%/8h= +85.2% APRnext payment +$0.97 per $10,000 · paid last 24h +0.055%
Price spread now: dYdX against Deribit−0.025%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$920.920% of the position
Funding, last 7 days+0.497%+$50 on $10k
+Price spread, last 4 days (all we have)−0.098%−$10 · spread now −0.025%, 7d avg +0.004%
=Funding pays, the price is against you. dYdX is 0.030% cheaper against Deribit than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.004%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.497% in total) that is about 10 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.497% in total (about 25.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.97 per $10,000. 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 | Deribit LINK_USDC-PERPETUAL | 12.921 | 0.0075 | pay 0.0009% / 1h | 11m 39s | $784K | $210K | 50x |
| Short | dYdX LINK-USD | 12.917 | 0.0853 | get 0.0107% / 1h | 11m 39s | $343K | $32K | 10x |
Deribit LINK_USDC-PERPETUAL
dYdX LINK-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $163.46
- Price spread: −0.025% → +0.004%
- −$2.98
- Slippage, 4 orders
- −$75.01
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- $68.47
- Costs to cover
- 0.920%
- Break-even
- 4.1 days
Slippage from Deribit: live order book, 42 min ago; dYdX: live order book, 42 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, 42 min ago | 3.07 bp | 6.6 bp −$7 | 13.8 bp −$138 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 42 min ago | 33.30 bp | 38.3 bp −$38 | 149.8 bp −$1,498 | 173.8 bp −$17.4K | 212.3 bp −$106.1K |
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 | 12.914 | −0.051% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.930 | +0.074% | $491K | $2.3M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0006% | 1h | 12.915 | −0.039% | $184K | — | 150x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −4.028% | $4K | $48K | 12x | as long as short |
| Orderly PERP_LINK_USDC | +0.0051% | 8h | 12.915 | −0.043% | $115K | $1.1M | 20x | as long as short |
| Phoenix LINK | +0.0074% | 1h | 12.950 | +0.231% | $3K | $82K | 10x | as long as short |
| Deribit LINK_USDC-PERPETUALlong | +0.0075% | 1h | 12.921 | long leg | $784K | $210K | 50x | |
| Lighter LINK | +0.0096% | 1h | 12.917 | −0.026% | $1.9M | $2.8M | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.910 | −0.084% | $31K | $2K | 20x | as long as short |
| Nado LINK-PERP | +0.0100% | 1h | 12.925 | +0.035% | $390K | $307K | 10x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Injective LINK/USDC PERP
Orderly PERP_LINK_USDC
Phoenix LINK
Lighter LINK
Paradex LINK-USD-PERP
Nado LINK-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster LINKUSDT | +0.0100% | 8h | 12.918 | −0.021% | $1.2M | $2.4M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 12.918 | −0.019% | $277K | $182K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.915 | −0.041% | $119.9M | $300.2M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.910 | −0.081% | $83.3M | $73.1M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.911 | −0.074% | $27.3M | $80.8M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.929 | +0.066% | $181K | $167K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.917 | −0.027% | $128.0M | $13.1M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.914 | −0.050% | $33.2M | $57.2M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.923 | +0.019% | $22.7M | $13.3M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.912 | −0.066% | $53.8M | $29.7M | 75x | as long as short |
| BingX LINK-USDC | +0.0100% | 8h | 12.914 | −0.050% | — | $6.6M | — | as long as short |
| Backpack LINK_USDC_PERP | +0.0100% | 1h | 12.920 | −0.004% | $339K | $391K | 15x | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.933 | +0.099% | $3.3M | $1.6M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.942 | +0.170% | $43K | $308K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 12.939 | +0.143% | $581K | $2.8M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.962 | +0.321% | $133K | $673K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.924 | +0.027% | $81K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.914 | −0.053% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.928 | +0.061% | $33K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.916 | −0.035% | $9K | $64K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.912 | −0.068% | $633K | $690K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.912 | −0.064% | $628K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.918 | −0.016% | $542K | $2K | 3x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0104% | 1h | 12.923 | +0.019% | $921K | $2.7M | 50x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.937 | +0.128% | $5.2M | $15.7M | 75x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0245% | 1h | 12.919 | −0.010% | $6.6M | $8.2M | 50x | as long as short |
| Hyperliquid LINK | +0.0305% | 1h | 12.930 | +0.074% | $80.7M | $27.5M | 10x | as long as short |
| Reya LINKRUSDPERP | +0.0393% | 1h | 12.914 | −0.050% | $4K | — | 20x | as long as short |
| Phemex LINKUSDT | +0.0563% | 8h | 12.933 | +0.097% | $20.0M | $11.3M | 50x | as long as short |
| dYdX LINK-USDshort | +0.0853% | 1h | 12.917 | −0.025% | $343K | $32K | 10x |
Aster LINKUSDT
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDC
Backpack LINK_USDC_PERP
Variational Omni LINK
edgeX LINKUSDC
GRVT LINK_USDT_Perp
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
Coinbase International LINK-PERP-INTX
BloFin LINK-USDT
Kraken Futures PF_LINKUSD
Hyperliquid LINK
Reya LINKRUSDPERP
Phemex LINKUSDT