Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: OKX against Derive+0.008%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Derive Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LINK-PERP	12.845	0.0100	pay 0.0013% / 1h	41m 18s	$16K	$22K	10x
Short	OKX LINK-USDT-SWAP	12.846	0.0100	get 0.0100% / 8h	2h 41m	$27.2M	$80.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Derive. 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 DerivebpFee OKXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → 0.000%: $0.76
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$15.24
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; OKX: live order book, 3 min ago. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.39 bp	7.7 bp −$8	14.6 bp −$146	25.8 bp −$2,576	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	12.849	+0.028%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.844	−0.010%	$499K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.849	+0.028%	$183K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.465%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0046%	1h	12.854	+0.068%	$786K	$228K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.838	−0.055%	$101K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.879	+0.265%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.849	+0.028%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.856	+0.087%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.862	+0.132%	$341K	$340K	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	12.846	+0.011%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.866	+0.163%	$274K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.845	0.000%	$118.6M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.845	0.000%	$82.8M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.846	+0.008%	$27.2M	$80.0M	50x
Arcus LINK-USD	+0.0100%	1h	12.872	+0.210%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.850	+0.039%	$123.8M	$14.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.850	+0.039%	$32.9M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.856	+0.085%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.848	+0.023%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.847	+0.015%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.878	+0.257%	$338K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.896	+0.399%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	+0.289%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.898	+0.412%	$585K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.884	+0.303%	$132K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.859	+0.109%	$81K	$71K	10x	as long as short
Derive LINK-PERPlong	+0.0100%	1h	12.845	long leg	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	12.863	+0.138%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.848	+0.023%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.807	−0.295%	$629K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.843	−0.016%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.851	+0.048%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.856	+0.085%	$914K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.849	+0.031%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0257%	1h	12.868	+0.179%	$80.3M	$27.5M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.851	+0.048%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.852	+0.055%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0580%	8h	12.865	+0.155%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.1042%	1h	12.862	+0.134%	$342K	$32K	10x	as long as short