Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h +0.010%

Price spread now: MEXC against Deribit−0.038%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.038%, 7d avg −0.001%

Together, before fees+0.160%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and MEXC is 0.037% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.001%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.160%, 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	12.888	0.0239	pay 0.0030% / 1h	1m 50s	$806K	$268K	50x
Short	MEXC LINK_USDT	12.883	0.0100	get 0.0100% / 8h	1m 50s	$34.6M	$58.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$29.19
Price spread: −0.038% → −0.001%: −$3.67
Slippage, 4 orders: −$11.92
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$51.78
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Deribit: live order book, 37 min ago; MEXC: live order book, 2 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, 37 min ago	3.10 bp	6.6 bp −$7	15.2 bp −$152	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.39 bp	0.5 bp −$1	4.1 bp −$41	24.7 bp −$2,474	45.6 bp −$22.8K

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
Orderly PERP_LINK_USDC	−0.0097%	8h	12.873	−0.116%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.881	−0.050%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.896	+0.063%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.884	−0.030%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.786%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.898	+0.081%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.881	−0.050%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.891	+0.024%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.889	+0.012%	$347K	$336K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.892	+0.032%	$80.4M	$27.9M	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	12.885	−0.026%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.893	+0.043%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.884	−0.030%	$119.1M	$298.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.876	−0.092%	$83.4M	$73.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.880	−0.061%	$27.1M	$79.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.906	+0.140%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.883	−0.038%	$133.8M	$18.1M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	12.883	−0.038%	$34.6M	$58.9M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.883	−0.038%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.880	−0.061%	$53.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.880	−0.061%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.890	+0.016%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.882	−0.048%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.891	+0.024%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	+0.047%	$589K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.895	+0.055%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.894	+0.047%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.881	−0.055%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.907	+0.151%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.883	−0.038%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.868	−0.154%	$629K	$751K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.884	−0.029%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.876	−0.093%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.886	−0.019%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.885	−0.023%	$929K	$3.0M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.896	+0.063%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0239%	1h	12.888	long leg	$806K	$268K	50x
Reya LINKRUSDPERP	+0.0402%	1h	12.879	−0.066%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.896	+0.063%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0552%	1h	12.886	−0.013%	$343K	$45K	10x	as long as short