Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.030%

Price spread now: edgeX against Deribit+0.071%75s7-day average −0.028% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.310% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 3 days (all we have)−0.153%−$15 · spread now +0.071%, 7d avg −0.028%

Together, before fees+0.084%+ Points / potential airdropedgeX: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.099% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.028%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	13.145	0.0070	pay 0.0009% / 1h	17m 39s	$780K	$211K	50x
Short	edgeX LINKUSDC	13.155	0.0100	get 0.0050% / 4h	3h 17m	$44K	$310K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.071%Rate

Funding earned: $6.3
Price spread: +0.071% → −0.028%: $9.86
Slippage, 4 orders: −$14.95
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$14.79
Costs to cover: 0.310%
Break-even: 23.4 days

Slippage from Deribit: live order book, 56 min ago; edgeX: live order book, 55 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, 56 min ago	1.91 bp	6.2 bp −$6	11.6 bp −$116	doesn't fit	doesn't fit
Sell edgeX live order book, 55 min ago	2.67 bp	7.2 bp −$7	10.3 bp −$103	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 −0.0091% / S +0.0167%	1h	13.131	−0.108%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.130	−0.119%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.134	−0.090%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.670%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.168	+0.168%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0066%	8h	13.139	−0.049%	$133K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0070%	1h	13.145	long leg	$780K	$211K	50x
Lighter LINK	+0.0096%	1h	13.143	−0.019%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.184	+0.295%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.112	−0.254%	$402K	$307K	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	13.147	+0.013%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.144	−0.013%	$275K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.142	−0.023%	$122.0M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.138	−0.056%	$84.7M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.141	−0.033%	$27.5M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.158	+0.096%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.147	+0.012%	$130.2M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.143	−0.018%	$36.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.145	−0.003%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.141	−0.033%	$54.5M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.143	−0.018%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	+0.091%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	13.155	+0.071%	$44K	$310K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	+0.099%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	+0.096%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.123	−0.170%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.139	−0.052%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	−0.168%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	−0.033%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.107	−0.290%	$645K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.139	−0.047%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.143	−0.018%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.114	−0.239%	$999K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0176%	1h	13.159	+0.103%	$364K	$364K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.134	−0.087%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.159	+0.101%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.117	−0.219%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0454%	1h	13.141	−0.036%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0553%	1h	13.167	+0.162%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0728%	8h	13.161	+0.119%	$20.4M	$11.6M	50x	as long as short