LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0211%/8h= +23.1% APRnext payment +$0.26 per $10,000 · paid last 24h +0.078%

Price spread now: Hyperliquid against Deribit+0.084%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$280.285% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.266%+$27 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.084%, 7d avg +0.087%

Together, before fees+0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.087%, so right now this pair is about funding alone: +$6 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	12.979	0.0143	pay 0.0018% / 1h	34m 07s	$788K	$210K	50x
Short	Hyperliquid LINK	12.990	0.0354	get 0.0044% / 1h	34m 07s	$81.2M	$27.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.084%Rate

Funding earned: $44.21
Price spread: +0.084% → +0.087%: −$0.29
Slippage, 4 orders: −$12.49
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $15.42
Costs to cover: 0.285%
Break-even: 4.6 days

Slippage from Deribit: live order book, 20 min ago; Hyperliquid: live order book, 10 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, 20 min ago	3.07 bp	6.6 bp −$7	13.8 bp −$138	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.38 bp	5.7 bp −$6	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 −0.0089% / S +0.0166%	1h	12.974	−0.041%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.966	−0.098%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.973	−0.046%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.462%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.970	−0.070%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.008	+0.220%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.973	−0.047%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.981	+0.011%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.975	−0.028%	$392K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.977	−0.012%	$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	12.988	+0.065%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.975	−0.032%	$120.7M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.975	−0.032%	$83.9M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.976	−0.024%	$27.4M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.987	+0.061%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.978	−0.008%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.974	−0.039%	$32.8M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.979	−0.001%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.981	+0.015%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.977	−0.016%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.982	+0.022%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.976	−0.022%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.005	+0.200%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.982	+0.024%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.013	+0.261%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	+0.007%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.972	−0.053%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.996	+0.132%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.974	−0.039%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.928	−0.395%	$634K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.970	−0.072%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	+0.158%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.987	+0.061%	$924K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0143%	1h	12.979	long leg	$788K	$210K	50x
BloFin LINK-USDT	+0.0220%	8h	12.985	+0.045%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.977	−0.020%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINKshort	+0.0354%	1h	12.990	+0.084%	$81.2M	$27.5M	10x
Reya LINKRUSDPERP	+0.0392%	1h	12.968	−0.082%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0541%	8h	12.991	+0.092%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0575%	1h	12.988	+0.067%	$344K	$30K	10x	as long as short