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: SunX against Deribit+0.057%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Deribit Short on SunX

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)−0.044%−$4 · spread now +0.057%, 7d avg +0.097%

Together, before fees+0.192%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.040% cheaper against Deribit than usual: you would sell low and buy high (spread +0.057% now, against its 7-day average of +0.097%). If the spread goes back, that is −$4 on $10k: about 32 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	13.079	0	get 0.0000% / 1h	44m 36s	$701K	$111K	50x
Short	SunX LINK-USDT	13.086	0.0100	get 0.0100% / 8h	2h 44m	$34K	$1.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.057%Rate

Funding earned: $21
Price spread: +0.057% → +0.097%: −$4.01
Slippage, 4 orders: −$39.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$37.82
Costs to cover: 0.548%
Break-even: 19.6 days

Slippage from Deribit: live order book, 44 min ago; SunX: 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, 44 min ago	3.78 bp	7.3 bp −$7	14.8 bp −$148	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	13.67 bp	19.2 bp −$19	doesn't fit	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 +0.0165%	1h	13.079	+0.001%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.086	+0.052%	$456K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALlong	0.0000%	1h	13.079	long leg	$701K	$111K	50x
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.080	+0.009%	$82K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	−0.043%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.190%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0043%	8h	13.084	+0.036%	$3.3M	$1.5M	—	as long as short
dYdX LINK-USD	+0.0047%	1h	13.082	+0.024%	$347K	$60K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.071	−0.060%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.078	−0.009%	$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	13.077	−0.011%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.075	−0.025%	$397K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.082	+0.024%	$77.2M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.077	−0.013%	$1.5M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.077	−0.012%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.078	−0.006%	$120.9M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.079	+0.002%	$84.3M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.080	+0.009%	$27.5M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.092	+0.101%	$184K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.079	+0.002%	$130.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.078	−0.006%	$35.6M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.077	−0.014%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.078	−0.006%	$54.0M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.078	−0.006%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.084	+0.040%	$362K	$369K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.086	+0.055%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.076	−0.025%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.091	+0.093%	$152K	$662K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.080	+0.009%	$80K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.074	−0.040%	$22K	$16K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.086	+0.057%	$34K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.029%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.069	−0.076%	$639K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.077	−0.013%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.081	+0.019%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.082	+0.024%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.078	−0.006%	$5.2M	$16.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.078	−0.007%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0501%	8h	13.092	+0.101%	$20.2M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.087	+0.062%	$7.0M	$7.7M	50x	as long as short