Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against Deribit−0.080%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$610.615% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.234%+$23 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now −0.080%, 7d avg −0.076%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.076%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	13.132	0	get 0.0000% / 1h	29m 45s	$712K	$120K	50x
Short	HTX LINK-USDT	13.122	0.0100	get 0.0100% / 8h	2h 29m	$645K	$911K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $21
Price spread: −0.080% → −0.076%: −$0.35
Slippage, 4 orders: −$42.49
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$40.85
Costs to cover: 0.615%
Break-even: 20.6 days

Slippage from Deribit: live order book, 59 min ago; HTX: live order book, 59 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, 59 min ago	3.78 bp	7.3 bp −$7	14.8 bp −$148	doesn't fit	doesn't fit
Sell HTX live order book, 59 min ago	5.79 bp	30.6 bp −$31	222.2 bp −$2,222	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 −0.0090% / S +0.0165%	1h	13.133	+0.009%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.137	+0.040%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALlong	0.0000%	1h	13.132	long leg	$712K	$120K	50x
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.134	+0.014%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.118	−0.106%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0024%	1h	13.138	+0.042%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.575%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0046%	8h	13.124	−0.062%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0068%	8h	13.128	−0.032%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.141	+0.065%	$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	13.133	+0.007%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.137	+0.037%	$399K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.149	+0.129%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.140	+0.060%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.137	+0.037%	$275K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.134	+0.017%	$121.4M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.133	+0.007%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.137	+0.037%	$27.7M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.147	+0.113%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.136	+0.030%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.134	+0.014%	$36.6M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.140	+0.060%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.135	+0.022%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.135	+0.022%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.140	+0.060%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.116	−0.120%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.106	−0.200%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.121	−0.085%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.139	+0.053%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.126	−0.046%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.150	+0.136%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.128	−0.031%	$5K	$40K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.122	−0.080%	$645K	$911K	75x
Extended LINK-USD	+0.0104%	1h	13.134	+0.017%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.130	−0.013%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.077%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.125	−0.054%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.136	+0.026%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0477%	8h	13.142	+0.075%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.135	+0.025%	$6.9M	$7.8M	50x	as long as short